Portfolio monitoring offers management a holistic representation of the health of the project portfolio. This process guide will walk managers through the following four key steps within the project portfolio monitoring process:
- Collect - Gather pertinent project data and compile it in a central location.
- Analyze - Evaluate individual project status, examine risks and issues, and assess the impact and status of the portfolio as a whole.
- Act - Make informed decisions and effectively monitor projects to ensure issues are quickly recognized and acted upon.
- Review - Sustain the project portfolio by continuously examining, tracking, updating, evaluating, and re-prioritizing projects and investment of IT resources.
Adhering to this process will allow managers to more accurately assess the status and measure the ongoing value of individual projects.