Mr. Chalouhy: Portfolio management is the link
between business strategy and business tactics. It’s
the connection between the business on the top and
the execution of a project or program on the ground.
Mr. Mishra: Portfolio management is identifying,
prioritizing, authorizing, managing and controlling
projects, programs and initiatives to achieve speci;c
So that’s what it is. What is its value?
Mr. Chalouhy: In every organization, someone
somewhere is making a decision to spend money
or not to spend money, to do business or not to do
business. In a small organization, this person probably is the business owner. In a big organization
with more complexity, you need an o;ce conducting research and analysis. ;at’s the value of portfolio management: It helps you make decisions that
enable the business to survive and thrive.
simply a way of
within our risk
PMP, PfMP, Medtronic, Memphis,
Ms. Lawler: When I joined my organization, it had
over 1,000 projects underway of all shapes and sizes.
With increased visibility via the PMO, the executive
gradually constrained the volume of large projects.
Another problem was that there was no consistent language and no consistency with project
documentation. So, I created a set of templates that
established a common language, and that’s made
a huge di;erence. We’re no longer wasting time
developing all these di;erent documents, people are
being held accountable for delivering their stu; and
our executives now have high visibility that helps
them quickly remove barriers causing issues. ;at’s
been one of the early bene;ts of portfolio management for us.
What does portfolio management look like in
your organization? How is it set up in terms of
Mr. Mishra: ;e heart of our portfolio management infrastructure is an online dashboard that
collects data from multiple internal systems and
through automated reports provides a single view
on project, program and initiative progress to all
stakeholders. We also have a portfolio management o;ce with a centralized team that extends
all the administrative support necessary to project
managers, such as providing reports and verifying
data. ;at is very vital to the portfolio management
practices of any organization.
Ms. Lawler: I don’t have sta;. It’s just me working with the senior executives directly on portfolio
management from the end of strategy to the realization of bene;ts. ;at’s one of the things that’s kept
portfolio management around in our organization—it’s not a huge overhead.
I’ve encountered a lot of people who say
they’ve got 20 people in their portfolio management office, and I’ve worried they will be perceived as high cost and low value. They rarely
see the problem themselves. You must stay lean
because the cost of your function either contributes to or detracts from the return on investment