Web based governance, maintenance and control
Controlling the Project Portfolio has gained interest. Many Business leaders prefer to execute business changes in the format of a project with a clear start, end and delivery date.
Most organizations have a large number of ongoing projects. A variety from small internal improvement projects to vital business critical projects that will affect financial result and competitiveness.
Consequently it is important to control the projects and the project portfolio. Below are typical perspectives of this:
- Controlling the Project portfolio
- Controlling the progress of the individual Project
- Controlling Project risks
When controlling the project portfolio it is important to have comparable measures between the different projects. Two main areas of interest are priority between projects and quickly identifying projects that are not on track.
Controlling the individual Project is often about following a project steering model. This involves clear responsibilities, defining measurements and follow-up. An important measure to monitor is the "Project projection", a burn down chart of how much is produced, how much resources are spent, and what is left?
Examples of protocols in this area are PROPS/XLPM, PPS, TS PROMO and the concept of PMI (Project Management Institute).
Working with project risk is often mandatory. It involves identifying vulnerabilities, complications and other obstacles, and continuously handling these. iFACTS Risk management functionality is designed to support this work.
Web technology helps the Project responsible with registration and documentation. Common work steps are to document the Project in terms of sub projects, milestones and activities, and establishing relevant measures.
The Project is given a performance score. The list below shows examples of measures to define the score and status.
- Inventory status
- Governance compliance status
- Risk assessment status
- KPI measures such as progress and burn down chart
- Nonconformity status
- Dynamic setup of project structure and roles
- Dynamic setup of inventory content
- Chart component
- Documentation center
- Nonconformity handling
- Master data, API, Integration
- Report generator