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Audit the Project Portfolio

View the portfolio through the lens of your stakeholders.

  • As a CIO you know you should audit your portfolio, but you don’t know where to start.
  • There is a lack of portfolio and project visibility.
  • Projects are out of scope, over budget, and over schedule.

Our Advice

Critical Insight

  • Organizations establish processes and assume people are following them.
  • There is a dilution of practices from external influences and rapid turnover rates.
  • Many organizations build their processes around existing frameworks. These frameworks are great resources but they’re often missing context and clear links to tools, templates, and fiduciary duty.

Impact and Result

  • The best way to get insight into your current state is to get an objective set of observations of your processes.
  • Use Info-Tech’s framework to audit your portfolios and projects:
    • Triage at a high level to assess the need for an audit by using the Audit Standard Triage Tool to assess your current state and the importance of conducting a deeper audit.
    • Complete Info-Tech’s Project Portfolio Audit Tool:
      • Validate the inputs.
      • Analyze the data.
      • Review the findings and create your action plan.

Audit the Project Portfolio Research & Tools

Start here – read the Executive Brief

Read our concise Executive Brief to find out why you should audit the project portfolio, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.

Audit the Project Portfolio – Executive Brief
Audit the Project Portfolio – Phases 1-3

2. Perform project portfolio audit

Audit your selected projects and portfolios. Understand the gaps in portfolio practices.

Audit the Project Portfolio – Phase 2: Perform Project Portfolio Audit
Project Portfolio Audit Tool

3. Establish a plan

Document the steps you are going to take to address any issues that were uncovered in phase 2.

Audit the Project Portfolio – Phase 3: Establish a Plan
PPM Audit Timeline Template

Workshop: Audit the Project Portfolio

Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.

Module 1: Portfolio Audit

The Purpose

An audit of your portfolio management practices.

Key Benefits Achieved

Analysis of audit results.

Activities

Outputs

1.1

Info-Tech’s Audit Standard/Engagement Context

  • Audit Standard and Audit Glossary of Terms
1.2

Portfolio Audit

1.3

Input Validation

1.4

Portfolio Audit Analysis

  • Portfolio and Project Audit Tool
1.5

Start/Stop/Continue

  • Start/Stop/Continue

Module 2: Project Audit

The Purpose

An audit of your project management practices.

Key Benefits Achieved

Analysis of audit results.

Activities

Outputs

2.1

Project Audit

2.2

Input Validation

2.3

Project Audit Analysis

  • Portfolio and Project Audit Tool
2.4

Start/Stop/Continue

  • Start/Stop/Continue

Module 3: Action Plan

The Purpose

Create a plan to start addressing any vulnerabilities.

Key Benefits Achieved

A plan to move forward.

Activities

Outputs

3.1

Action Plan

  • Audit Timeline Template
3.2

Key Takeaways

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About Info-Tech

Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.

We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

What Is a Blueprint?

A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.

Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.

Need Extra Help?
Speak With An Analyst

Get the help you need in this 3-phase advisory process. You'll receive 8 touchpoints with our researchers, all included in your membership.

Guided Implementation 1: Assess readiness
  • Call 1: Discuss current state.
  • Call 2: Discuss results of Audit Standard Triage Tool.
  • Call 3: Determine whether a more in-depth audit is needed and next steps.

Guided Implementation 2: Perform project portfolio audit
  • Call 1: Discuss audit process.
  • Call 2: Discuss results of portfolio and project audit.

Guided Implementation 3: Establish a plan
  • Call 1: Discuss takeaways from the audit.
  • Call 2: Discuss action plan.
  • Call 3: Review action plan.

Author

Ugbad Farah

Contributors

  • David Fortin, Head of Project Management Office, ANDRITZ Inc.
  • Chris Roseburg, PMO Manager – Enterprise Technology, Grant County Public School District
  • Paul Esterbrooks, Vice President, Wicresoft
  • Three anonymous contributors

Related Content: Portfolio Management

Search Code: 89929
Last Revised: October 18, 2019

TAGS:

Audit, Controls, Fiduciary, Portfolio, Project, Process, Stakeholder, Shareholders, Outcomes, Benefits, Whiteboard, video, whiteboard series
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