Explore portfolio management and optimization
The video explains portfolio management, focusing on how managers can optimize project selection to align with company goals. It introduces the concept of portfolios as collections of projects competing for shared resources, budgets, and schedules. Managers can use tools like the Portfolio Optimizer to compare projects based on criteria such as labor, expenses, risk, ROI, and alignment with portfolio goals. Preparing projects for comparison involves creating a business case for each.
Key takeaways
- Portfolio Optimization: Managers use tools like the Portfolio Optimizer to compare projects based on criteria such as labor, expenses, risk, ROI, and alignment with portfolio goals to prioritize and select projects effectively.
- Portfolio Creation: Portfolios are created by navigating to the Portfolio section, clicking “New Portfolio,” and assigning a Portfolio Manager. The creator and manager initially have exclusive access.
- Access Management: Portfolios can be shared with others, granting customizable access levels (e.g., View Only), which also extends access to all programs and projects within the portfolio.
- Project and Program Management: Projects can be added or created directly within a portfolio, but each project can only belong to one portfolio. Programs, which are collections of projects, can also be created or moved into a portfolio, transferring all associated projects.
- Business Case Preparation: Creating a business case for each project is essential for effective comparison and decision-making in portfolio optimization.
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