OPTIMUM PORTFOLIO MANAGEMENT

Portfolio Managers will find a whole set of powerful tools to manage projects from ideas through to benefit delivery.  PSNext incorporates multi-level planning and tracking to enhance Portfolio Management processes.

1 - IDEA IDENTIFICATION

Ideas are the candidate projects that a company may want to execute. Each candidate can be described by a set of user-defined properties such as objectives, alignment with organizational goals, risks, and benefits. The specifics of each idea can then be simply entered in a user defined form.

2 - STRATEGIC ALIGNMENT

One of the main purposes of portfolio management is to launch the right project at the right time while taking into account available resources (budgedary and human resources) and risk. PSNext provides full reporting capabilities to analyze candidate projects based on any set of parameters that can help evaluate and compare candidate projects.

3 - RANKING

When evaluating the importance of a candidate project, portfolio managers might need to get the advice of other executive decision makers. A custom set of ranking metrics can be defined for each portfolio so that users can directly rank each candidate project. A weighted priority can be given to each metric to be considered when combining the team’s votes.

4 - “WHAT IF” ANALYSIS

When new candidate projects enter the pipeline, PSNext helps to simulate the overall impact to resource usage and costs. If there are any conflicts, portfolio managers can do simulations by adjusting the candidates or any ongoing project so that the new projects fit correctly into the available budgets and available human resources.  Various scenarios can compared instantly to determine the optimum portfolio.

5 - INITIATE PROJECTS

When a candidate project is approved for implementation, PSNext provides a set of features defining the actions to be taken: inform the project manager, alert an accounting system, transfer the new projects’ budget, etc.Th

ese actions can be fully configured to meet any corporate workflow.

6 - SCHEDULING

PSNext provides robust planning tools to define each candidate’s main phases or stages. Resource requirements and costs forecasts can be entered to calculate the estimated cost and effort for the candidate project.

7 - PORTFOLIO FOLLOW-UP

The portfolio provides an overview of project execution status and how it is progressing towards meeting the company’s strategic goals. This essential information helps portfolio managers decide on whether to stop a project, increase its budget, or institute other contingency plans to ensure it meets the objectives set forth.

8 - APPROVED PROJECTS

Each approved candidate project is initiated from the portfolio in a top-down process. Scheduling is then carried out at a lower level under the responsibility of a project manager in the Planner component. At any time the portfolio manager as well as the project manager can see how well the project is meeting its objectives that were defined at the Portfolio level.