Methods to Rank, Rate, and Select Project Portfolio Components
Establish (or identify) and select methods to rank, rate, and select project portfolio components for their strategic contributions.
Improvement Planning
Practices-Outcomes-Metrics (POM)
Representative POMs are described for Methods to Rank, Rate, and Select Project Portfolio Components at each level of maturity.
- 1Initial
- Practice
- Rely on PPM staff expertise.
- Outcome
- Staff quickly puts in place a practice to rate and rank and aid in the selection of project portfolio components.
- Metric
- Number of staff with expertise in project portfolio component ranking and rating.
- Practice
- Leverage professional networks and emulate successes.
- Outcome
- Staff quickly puts in place a known working practice of rating and ranking to aid the selection of project portfolio components.
- Metric
- Number of approaches or methods adapted from networking sources that have been applied to project portfolio component ranking and rating.
- 2Basic
- Practice
- Develop ranking and rating methods for financial and market share contributions.
- Outcome
- Identify or develop methods to rate and rank project portfolio component financial and market contributions to aid selection of project portfolio components.
- Metric
- Number of methods available for ranking and rating the financial contribution of project portfolio components to strategic objectives.
- Practice
- Develop ranking and rating methods for skills and knowledge acquisition contributions.
- Outcome
- Identifying or developing methods to rate and rank project portfolio component skills and knowledge contributions aid the selection of project portfolio components.
- Metric
- Number of methods available for ranking and rating the competence contributions of project portfolio components to strategic objectives.
- 3Intermediate
- Practice
- Develop ranking and rating methods for performance objectives.
- Outcome
- Identifying or developing methods to rate and rank project portfolio component performance contributions aid the selection of project portfolio components.
- Metric
- Number of methods available for ranking and rating the performance enhancement contributions of project portfolio components to strategic objectives.
- Practice
- Develop ranking and rating methods for agility objectives.
- Outcome
- Identifying or developing methods to rate and rank project portfolio component contributions towards agility objectives ensure these contributions are counted.
- Metric
- Number of methods available for ranking and rating the agility and flexibility contributions of project portfolio components to strategic objectives.
- 4Advanced
- Practice
- Portfolio cash flows are balanced and factored when balancing the portfolio across strategic objectives.
- Outcome
- These methods help smooth peaks and troughs in cash flows in and out of the portfolio and also at an organization level.
- Metrics
- Number of Euro-days cash at hand.
- Number of borrowed Euro-days cash.
- Practice
- Develop a ‘what-if’ analysis capability to understand potential portfolio impacts of changes or risk events.
- Outcomes
- These methods help maximize positive events and to minimize negative events.
- Understanding the impact of possible actions helps select the best solutions for the portfolio and the organization.
- Metric
- Number of ‘what-if’ scenario types supported.
- 5Optimized
- Practice
- Communicate project portfolio schedules and understanding of the rationale used to establish the schedules.
- Outcome
- There is better acceptance and less resistance to completing the project portfolio components in the designated order.
- Metric
- Number of schedules with explanatory rationale.
- Practice
- Provide self-service reporting and analysis tools.
- Outcome
- This enhances transparency and support for the schedule.
- Metric
- Number of staff authorized to use self-reporting and analysis tools.