Michael Hanford

OK, so you want to get started (or have been told to get started) with project portfolio management.

The adoption of portfolio management is an organizational change effort. Such efforts require, typically, a lengthy period of time to succeed; and to judge the impact and effectiveness of the change. They also, typically, require the commitment of the executive level. The “form” of this commitment goes beyond a simple “yes, do it!” Rather, the commitment requires resources, funding, and oversight.

Good advice? The “3 Cs” for portfolio management adoption. They are simple, and easy to remember

The first “C” is for “Capabilities”. Portfolio management success is built upon a number of organizational capabilities; with an assumption that they are present, and fairly mature. You need to understand the state and maturity of your own organization’s capabilities, which contribute to the foundation required for portfolio management as a discipline.

The second “C” is for “Consensus”. Take the time to explain, communicate, influence, and nag – as needed. If… you cannot gain a sizable group who agree that there is value to the organization in the adoption of portfolio management – put the idea aside (for now!)

Finally, the third “C” is for “Consulting”. Ah, I can see some of you cringing! In this instance I am using this term within the context of: advice, past success and success “assets”; and, expertise. An organization or individual with a past track record of aiding organizations to successfully adopt portfolio management can reduce your risk, locate (and help you to side-step) potential pitfalls, and provide a “tailored” path which “fits” your needs and organizational culture.

The “3 Cs” are NOT all that you need to know about portfolio management adoption. However, they can offer a sound beginning to building your own vision and approach to take up this important discipline.

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