Keep it steady

Portfolio managers balance the demands of multiple and sometimes competing projects against overall corporate profit and revenue goals. This article examines the degree to which an organization’s portfolio project managers should manage the business. It also outlines guidelines for prioritizing portfolios, pointing out that since different organizations have differing structures, goals, and methodologies, there is no one management solution for all companies. This article also lists tips for prioritizing portfolios, tips that include eliminating communication problems, creating a good decision-making framework, avoiding over-reliance on technology, and establishing common platforms and performance benchmarks at the outset. It puts forward that some projects are not worth finishing and that managers should terminate those projects that--after their organization determines as such--lack significance to, or fail to correspond with, the organization's strategic objectives.
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