articles by Tim Washington

Project Portfolio Management
Tim Washington

A Guide to Building a Project Prioritization Scoring Model

Portfolio management is about maximizing organizational value delivery through programs and projects. In order to maximize value delivery, the governance teams that approve work and prioritize projects need to share a common view of “value” in order to use a scoring model to select the most valuable work and assign the right resources to that…

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Project Portfolio Management
Tim Washington

Know the Difference Between Work Intake Versus Stage-Gate

What is the difference between a work intake process and a Stage-Gate process? This is important to distinguish, especially for newer PMO’s that are setting up portfolio management processes.The work in-take process refers to the steps of developing a project proposal and bringing it to the governance board (or PMO) for a

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Project Portfolio Management
Tim Washington

Prioritization Matrix

In a recent LinkedIn discussion, questions were asked about the short-comings of prioritization matrices. I would like to highlight the strengths and weaknesses of using such a tool for portfolio management. Firstly, a prioritization matrix differs from a more traditional scoring approach in that it offers a limited number of priority selections. The most simplistic…

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Project Portfolio Management
Tim Washington

Benefits Realization Summary

The purpose of validating benefits is to ensure that real value has been delivered from projects post-implementation as well as increase value from future projects when shortfalls have been identified in present projects. Although the business case promises to deliver a certain amount of value (in most cases), few companies

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Project Portfolio Management
Tim Washington

Pipeline Management-Stage Gates Part 2

Stage gates are a governance structure to evaluate, authorize, and monitor projects as they pass through the project lifecycle. In the last post, we looked at the first four reasons for establishing a stage gate process in the organization. In this post, we conclude with the last four reasons for establishing a decision gate process.

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Project Portfolio Management
Tim Washington

Greater Value From Portfolio Management Systems

Enterprise repository (“single source of truth”)—having a single system that contains up-to-date and accurate project and portfolio data is valuable. Gone are the days of maintaining multiple versions of static Excel files that contain the current “authorized” list of projects. This value is magnified easier to access the system and the greater

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Project Portfolio Management
Tim Washington

Pipeline Management-Stage Gates Part 1

Stage-Gates™ are a critical component of project selection. A winning portfolio must contain winning projects, therefore the project governance board must be able to discriminate between good projects and great projects.The decision gate process enables the project governance board to review these projects based on

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Project Portfolio Management
Tim Washington

Be Sure to Use the Portfolio Data

Data represents a major facet of successfully implementing project portfolio management (PPM). In a previous post, I discussed how data drives the portfolio management engine and

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Project Portfolio Management
Tim Washington

The Right Portfolio Data at the Right Time

From a very pragmatic point of view, getting the right data at the right time is at the heart of good project portfolio management. If the right data is not available for decision makers to use, the issue will be mediocre results at best. Portfolio management is about selecting the right projects, optimizing the portfolio…

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Project Portfolio Management
Tim Washington

Tactical or Strategic PPM

Fundamentally, portfolio management is about strategic execution and maximizing value to the organization through important project investments. Through various processes, leadership teams can determine how well their project investments align to key strategic goals. Optimization techniques can further enhance the value of the portfolio, ensuring that organizations

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Project Portfolio Management
Tim Washington

Project Pipeline Management

Project pipeline management is an important component of project portfolio management (PPM) because it encompasses the work needed to “select the right projects”. Pipeline management

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Project Portfolio Management
Tim Washington

Be Careful Managing Project Dependencies

Managing project dependencies are an important part of portfolio planning as well as tactically managing project execution. Unknown dependencies represent a major portfolio risk and in complex environments, inadequate identification of project dependencies can derail projects or programs. Dependencies can be any

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Project Portfolio Management
Tim Washington

The Value of Time Tracking

What is the real value in tracking time for project and non-project work? The fact is collecting accurate time measurements across an entire organization can be time consuming and potentially expensive. Collecting time for the sake of collecting time is a huge waste of good organizational energy. I have compiled a list of six reasons

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Project Portfolio Management
Tim Washington

Communicate Portfolio Value

I recently finished a project helping a CPG organization within a large retail company implement a product portfolio management process. The company as a whole

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Project Portfolio Management
Tim Washington

Portfolio Optimization—Data and Constraints

In our hyper-accelerated business world, data analysis and data visualization are exceptionally important. In the realm of project portfolio management (PPM) and PMO’s, organizations need robust data analysis to strengthen decision making and improve strategic execution. The key is to have the right processes in place to collect the right data and ensure

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Project Portfolio Management
Tim Washington

Portfolio Reports – Portfolio Bubble Charts

This is the third post in a series on portfolio management reports. In the first post, we reviewed introductory portfolio management reports that convey the basic dimensions of the portfolio. In the second report we reviewed treemaps and advanced pareto charts that can help identify outlier projects worthy of more scrutiny. In this post we…

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