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In this Part 4 we will cover:
Tips on Step 1 - Portfolio Setup (Categorization)
The first time your organization introduces portfolio management, it must determine
all of the elements that will compose the planned portfolio. In a large organization
there may be more than one portfolio, each designed for a different division or
different focus. Selection of the respective components will depend on the individual
portfolio plan's operational goals and objectives. Your best way to draw up an
inventory of all of the potential components is to establish a set of Key Descriptors
through which the components can be identified, assembled and compared, i.e. categorized.
For example, the following list suggests possible descriptors that you could
adopt and include:
- Reference number
- Brief description of the component
- Class of component, e.g.
- Project
- Program
- Business Case
- Value Proposition
- Sub-portfolio
- Other related work
- Strategic objectives supported
- Benefits - quantitative
- Benefits - qualitative
- Sponsor, client, customer
- Type of product, deliverable or enabler
- Estimated cost
- Risk category
Based on this data, the potential components can be categorized based on one
or more of the descriptors such as Class, Objectives, Type of Benefits, Client,
Cost or Risk level, depending on whatever makes the most sense to the organization.
In subsequent years, the principles will have been established so this step should
prove to be easier. Nevertheless, the actual components in the various categories
identified will change.
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PART
3 
