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Project Portfolio Component Failures Management

C4

Identify and remedy or cancel project portfolio components that are failing or are out of control.

Improvement Planning

Practices-Outcomes-Metrics (POM)

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.