Agility & Project Portfolio Management

Projects and programs are initiated for the reason, and the reason should be aligned with organizational strategy and clearly expressed in a project charter. Once initiated, every project is a part of the bigger whole, and that whole should be aligned with strategic objectives of an organization as well. Both of these tasks, steering of the individual project and managing of group of projects are tasks of project portfolio management. Being able to adopt and set the pace and directions of individual project and at the same time having a holistic view on a whole portfolio of projects is a challenging task. Adding that to the fact that projects in a managed portfolio are heterogeneous in every attribute (content, management approach, goals etc.) makes this already challenging task even more challenging.