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Representative POMs are described for Project Portfolio Component Evaluation and Approval at each level of maturity.

1Initial

• Practice

  Rely on staff expertise.

  Outcome

  Basic evaluation and approval mechanisms are in place.

  Metric

  Number of staff with project portfolio component evaluation experience.

• Practice

  Leverage professional networks and emulate successes.

  Outcome

  Known good practices can be put in place quickly.

  Metric

  Number of adapted methods for project portfolio component evaluation.

2Basic

• Practice

  Approve project portfolio components based on ranking and rating scores and established thresholds.

  Outcome

  Projects are approved on merit.

  Metric

  Number of project portfolio components approved without consideration of merit.

• Practice

  Adjust acceptance threshold for each strategy thread or set of objectives.

  Outcome

  Project filtering and approval is tailored to the strategy.

  Metric

  Number of strategic objects without portfolio acceptance thresholds.

3Intermediate

• Practice

  Set the project run-order based on ranking, rating, priority, organization and resource constraints, and the level of risk to which the component exposes the portfolio.

  Outcome

  A viable execution run order for projects emerges.

  Metric

  Number of objections to published and proposed run-orders for project portfolio components.

• Practice

  Ensure efficient and effective use of portfolio resources and staff in determining the run-order of projects.

  Outcome

  Under utilized resources are released back to the business or their contracts are terminated.

  Metric

  % utilization of project portfolio resources.

4Advanced

• Practice

  Review and regularly improve processes and procedures for project acceptance and prioritization.

  Outcome

  Business case evaluations, ranking, rating, and approval cycles get shorter.

  Metric

  Number of improvements implemented in a time period (e.g. 6-months).

• Practice

  Evaluate the impact on cash flow of prioritizations and any associated rescheduling.

  Outcome

  Analysis of cash timings avoids shortages and unused surpluses.

  Metric

  Available Euro-days and borrowed euro-days.

5Optimized

• Practice

  Leverage research outputs to identify the best approaches to project portfolio component selection and prioritization.

  Outcome

  Project evaluations are comprehensive, and poor or high risk projects are indicated for exclusion from the portfolio.

  Metric

  Number of innovations in project portfolio component evaluation methods innovations over a defined time period (e.g. 6 months).

• Practice

  Leverage research outputs for resource balancing techniques that best maximize the effective use of portfolio resources and staff.

  Outcome

  Portfolio project throughput is enhanced by more effective use of available project portfolio resources.

  Metric

  Number of research-informed innovations in project portfolio component evaluation methods innovations over a defined time period (e.g. 6 months).