Task: Monitor Changes in Conditions |
Monitor changes in conditions of the portfolio's environment against portfolio components or portfolio targets and objectives to track what could impact the execution of work.
Purpose
To ensure that portfolio executives are abreast of changes in internal and external influences that can potentially affect the portfolio outcomes and their decisions.
Main Description
Develop and maintain a complete understanding of the portfolio's environment to identify changes in business, technical, and market conditions that could favorably or unfavorably affect the portfolio. The following are examples of environmental conditions to monitor: Homogeneous understanding and organizational acceptance of portfolio model and governance Organizational changes in responsibilities and accountabilities Customer needs and expectations Business strategy and organizational objectives Economic changes and trends (for example: labor market movements, political risk, and financial policies) Market and competitive forces (for example: new entrants, supplier risk, and substitution) Technological advances and setbacks (on product and infrastructure) Political, social, and economical drivers Legislative and regulatory policies By monitoring changes in conditions, portfolio executives can make decisions based on current and prescriptive data, thereby supporting a clear and complete understanding of portfolio external drivers and influences.
Properties
Multiple Occurrences |
Event Driven |
Ongoing |
Optional |
Planned |
Repeatable |
Key Considerations
Inputs to consider are strategic plans, product roadmaps, industry reports and analysis, market and competitive trends, and analysts' reports.
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