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Representative POMs are described for Project Portfolio Component Failures Management at each level of maturity.

1Initial

• Practice

  Rely on staff expertise.

  Outcome

  Basic oversight and control is available immediately.

  Metric

  Number of staff with experience in dealing with failures in project portfolio management components.

• Practice

  Leverage professional networks and emulate successes.

  Outcome

  Working practices that are known to be effective can be deployed quickly.

  Metric

  Number of approaches or methods adapted from outside the organization for dealing with failures in project portfolio management components.

2Basic

• Practice

  Develop project portfolio component monitoring so that its remit extends beyond scheduling to cover earned value and the use of revised estimates.

  Outcome

  Performance variances are more easily identified.

  Metric

  Number of views available on the status and health of project portfolio components.

• Practice

  Establish control limits that trigger updates — e.g. spend at more than 15% variance from plan.

  Outcome

  Variances outside tolerances are reported, and minor variations are dealt with at project or programme levels.

  Metric

  Number of control alerts being received in portfolio management from project portfolio components.

3Intermediate

• Practice

  Encourage reporting of corrective actions by project and programme managers.

  Outcome

  Portfolio management is aware of budget and or resource reallocations.

  Metric

  Number of corrective actions recorded in Project Management Information System (PMIS).

• Practice

  Act early when portfolio level interventions are necessary.

  Outcome

  Portfolio agility is enhanced and maintained.

  Metric

  The time between the identification of an intervention and its satisfactory closure (with interventions classified by portfolio and priority).

4Advanced

• Practice

  Automate the detection of control limit violations to assist in early detection and reporting of potential issues.

  Outcome

  Transparency, agility, and consistency are all improved.

  Metric

  Number and ratio of automated alerts to manually reported alerts.

• Practice

  Feed failure data back into the project management information system (PMIS) and update or revise tools and risk management processes accordingly.

  Outcome

  The management of project portfolio failures is improving.

  Metric

  Number of data entries relating to failure in the Project Management Information System (PMIS).Number of innovations driven by failure data analysis.

5Optimized

• Practice

  Use research-informed analytical techniques to improve the level of detection of failures and to minimize any associated portfolio disruptions.

  Outcome

  Failures are detected sooner and management of them becomes more effective.

  Metric

  Number of research-informed innovations in component failures management.

• Practice

  Continuously refine and improve controls relating to project portfolio components and the detection of control violations.

  Outcome

  A competitive position is attained and sustained in the management of project portfolio component failures.

  Metric

  Number of project portfolio component failures management processes, tools, techniques, or training.