PLAN Phase, Steps 3 & 4
Step 3 - Evaluate Options (Evaluation)
You cannot make decisions on prioritizing work without knowing what the organization
feels is important. This is where you need to revisit the documentation from Step
1 - Portfolio Setup and ensure that you have a proper basis for evaluation
of all the work opportunities included in the portfolio. This will result in establishing
the context within which work priorities and approvals will be made.
This Step 3 includes validating the Value Propositions prepared in Step
2 - Identify Needs and Opportunities, and perhaps you will need to clarify
the most likely candidates.
Step 4 - Select the Work (Selection)
In this step you or your portfolio group must make serious and potentially
far-reaching decisions. Although it may sound simple, this effort must be meticulous
and rigorous. For instance, if there is any question about a particular but likely
Value Proposition, the Value Proposition may need firming up. In all but minor
work efforts, a more detailed Business Case should be created for all projects
that survive the initial selection.
Thus, during this step you should have had a complete review of all the Value
Propositions and/or Business Cases on the table and end up with a selection of
work that you actually expect to conduct during the ensuing period.
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PREPARE
Phase, Steps 1 & 2
