Page 170 - Global Project Management Handbook

7-20 STATE OF THE ART OF GLOBAL PROJECT MANAGEMENT

With regard to design of the project portfolio of a project-oriented organization, vari-
ous quality criteria can be applied, such as the ideal number of projects per type of project,
the minimum/maximum project portfolio budget, the maximum use of scarce resources in
the project portfolio, the maximum number of cooperation projects with one supplier, the
maximum number of projects with the same person as project manager, etc. The results
of project portfolio coordination are, on the one hand, optimized structures of the project
portfolio regarding these quality criteria and an optimized project portfolio risk.
On the other hand, overall optimization of the relationships to the project and program
environments; optimization of the project and program results with regard to progress,
costs, and income; assurance of the realization of the investment strategies of the
project-oriented organization; and optimization of the implementation of organizational
and personnel strategies in project portfolio coordination constitute the results of project
portfolio coordination.
Measures for implementing organization and personnel strategies are, for example, the
assignment of multirole performers to several projects, the application of guidelines for
project and program management, the use of project management consulting and project
management auditing for quality assurance purposes in projects and programs, and the
targeted development of project management personnel. The current status of a project
portfolio considering these different criteria can be visualized in a project portfolio score
card (Fig. 7.14).

Project Portfolio Database
The project portfolio database forms the basis for project portfolio management. A proj-
ect portfolio database is a database of information accumulated from past projects and

Project portfolio structure 15.3. 15.4.
Number of project per project type
Project portfolio budget
Project portfolio resources
Project portfolio risks
15.3. 15.4. Progresses
Project and program environments Project and program results 15.3. 15.4.
Relationships with customers Project- Schedules
portfolio
Relationships with partners Resources
as of as of
Relationships with authorities 15.03. 15.04 Costs
Relationships with suppliers Income
Project management application 15.3.15.4. Investment strategies 15.3. 15.4.
Persons performing multiple project roles Innovation strategies
Application of PM guidelines Finance strategies
PM consulting/PM auditing Customer strategies
Development of PM personnel Process strategies

Legend
Very poor
Poor
Average
Good
Very good
FIGURE 7.14 Project portfolio score card.