Measuring a portfolio’s
strategic success can
help an organization
deliver on its long-term
BY MATT ALDERTON
Creating an organizational strategy is like planning a road trip:
The route is as important as the destination. And for organizations
trying to meet strategic objectives, portfolio management is the
roadmap that can help them reach their goals.
“When organizations have goals in mind for what they want to
achieve from a strategic perspective, a portfolio manager can work
with them to get the projects and programs in place that will get
them from point A to point B,” says Jennifer Young Baker, PMP,
PgMP, vice president and project portfolio manager at Bank of
America, Charlotte, North Carolina, USA.
But a roadmap alone won’t keep an organization on track. A
portfolio manager should employ a suite of metrics to help executives guide the organization.
“We are the instrument panel,” says portfolio manager Ricardo
Viana Vargas, PMI-RMP, PMI-SP, PMP, chair, 2009 PMI Board of
Directors, director of the project management practice group at the
United Nations Office for Project Services, Copenhagen, Denmark.
“We give valuable information for the decision-making process, but
the decisions are made by those who have the power to decide.”