Audit the Project Portfolio
View the portfolio through the lens of your stakeholders.
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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
Your Challenge
- 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.
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.
1. Assess readiness
Understand your current state and determine the need for a deeper audit.
2. Perform project portfolio audit
Audit your selected projects and portfolios. Understand the gaps in portfolio practices.
3. Establish a plan
Document the steps you are going to take to address any issues that were uncovered in phase 2.
Guided Implementations
This guided implementation is an eight call advisory process.
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.
Book Your Workshop
Onsite 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 onsite 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
Info-Tech’s Audit Standard/Engagement Context
- Audit Standard and Audit Glossary of Terms
Portfolio Audit
Input Validation
Portfolio Audit Analysis
- Portfolio and Project Audit Tool
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
Project Audit
Input Validation
Project Audit Analysis
- Portfolio and Project Audit Tool
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
Action Plan
- Audit Timeline Template
Key Takeaways
