Task: Monitor the Portfolio and Conduct Reviews |
Monitor the portfolio aggregate and the components level to validate their performance, contribution, and overall impact on the portfolio.
Disciplines: Product Portfolio Management Tasks Extends: Monitor Portfolio and Conduct Reviews
Purpose
To consolidate measurements, performance, and trends collected during a set of periodic reviews that involve all executive, management, and operational teams To escalate issues, risks, and changes of scope that require management action and approval
Relationships
Roles | Primary Performer: Portfolio Review Board Product Manager | Additional Performers:
Inputs | Mandatory: Portfolio Recommendations | Optional: Components List
Main Description
Consolidate, analyze, and report current and predicted performance relative to all dimensions of the portfolio, consistent with prescribed formats and standards, measured against predefined targets, plans, and budgets, in support of the portfolio decision framework. The end-to-end portfolio monitor and control process is composed of a series of supporting data review cycles, including daily team status and assignments, weekly project updates, monthly product reviews, and quarterly executive reviews. The collection and aggregation of data in support of those distinct but connected cycles are ongoing processes that produce specific deliverables and reports used at particular points in time of the overall portfolio review cycle. This series of cascading reviews is carried out based on validated input about progress, performance, risks, issues, capacities, and constraints, as well as the realization of expected benefits and changes to conditions under which all work within the portfolios is being executed. During the various reviews, each component of the portfolio is assessed, measured, and reported in relation to its expected contribution, as well as its relationships and dependencies with other components and the portfolio as a whole. These review cycles are typically included within the overall portfolio monitoring activities: Yearly or biannual business planning cycles Quarterly executive and portfolio reviews Monthly product and project reviews Weekly project reviews and status meetings (phase or gate lifecycles) Daily project team updates and assignments The main dimensions represented within the decision framework must be consistent with those used to optimize the portfolios, such as these criteria: Strategic objectives (for example: time to market and cost leadership) Market conditions and situations (personas and user profiles) Competitive situations Financial targets and metrics (for example: return on investment (ROI), internal rate of return (IRR), return on assets, and payback) Capacity (headcounts and facilities) Technical and architectural constraints and objectives Risk tolerance thresholds Although these reviews occur at defined frequencies (daily, weekly, monthly, quarterly, and yearly), the horizon of planning of the portfolio management framework will span a period varying between 18 to 36 months and up to 3 to 5 years, depending on the nature and culture of the organization. The main outcome of this task is the production of validated and reliable data and information for making portfolio decisions and selections.
Steps
Consolidate and report on collected data, metrics, performances, trends, and variances
The various reviews conducted within the portfolio monitoring and controlling activity generate large amounts of information. This needs to be consolidated and reported in a consistent and predictable manner for presentation to the portfolio stakeholders. This step consists of producing the required standard reports and formats, servicing the needs of all stakeholders, to ensure weekly data feeds into the monthly reviews, which in turn feed into the quarterly and yearly reviews.
Consolidate and report risks, issues, and change requests
An important consideration for the specific information related to risks, issues, and change requests is that each level of management (team leads, project or product managers, and portfolio executives) has an associated degree of authority and accountability over factors that can directly affect the outcomes and objectives of the work being executed within the portfolio. It is common that thresholds based on severity and impact are used to determine which level of management is required to respond to a risk, issue, or change request. The application of those thresholds will determine which of the weekly, monthly, or quarterly cycles will dispose of the various risks, issues and change requests.
Select portfolio scenarios and assess optimal portfolio mix
Based on the severity and urgency of the scenarios identified as part of the analyzing portfolio trends and variances, select the components that require executive action that respond best to the changes within the portfolio. Identify any required changes to portfolio component priorities and composition to prepare recommendations that will help portfolio executives make decisions. For example, given a change to the competitive landscape resulting from the entry of a new competitor, this task identifies the specific set of components that need adjustments (such as adding, removing, or changing priority), elaborates on the desired impact on the overall portfolio, and highlights the specific actions or decisions requested from the portfolio executives and review board.
Generate the required pre-defined reports and analysis
Based on the standard formats (such as financial, schedule, timelines, resources, risks, etc.) that are pre-defined for each stakeholder group, produce the required reports and submit to stakeholders.
More Information
Tool Mentors | Reviewing Product Lifecycle Data with Focal Point
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