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Rationalizing Your Project Portfolio

Delivering strategic benefits with limited resources

You've submitted the budget for the projects you’ll be working on for the next six months. But the head of your Strategic Program Office has just called to say that you just can’t do all of that!

Why? Well, it’s not because he's questioning the benefit of these projects – after all, the business case of each one has already been approved. The problem is that funds are limited and the portfolio as it stands needs more cash than you’ve got.

You now need to re-work your overall plan to reduce the costs by 15%. So how do you decide which projects to keep, and which ones to delay or abandon?

This article gives you a robust process for doing just that.

Full text of this article is available to members of the Mind Tools Career Excellence Club. If you're a member, please click here for full text, or sign in below.

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New Articles (Not included in the Mind Tools E-book.)
* Shows articles available in full only to Career Excellence Club members

Project Initiation Documents - Getting your project off to a great start
Managing Project Finances - Understanding and controlling project costs*
Scope Control - Avoiding too many changes in projects*
Benefits Management - Getting the greatest possible benefit from a project*
Project Milestone Reporting - Keeping projects on track by monitoring check points*
Plan-Do-Check-Act (PDCA) - Implementing new ideas in a controlled way*

A full list of Mind Tools articles is available here.

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