Optimize project priorities with the Portfolio Optimization tool
The video explains how to use the Portfolio Optimization tool in Workfront to evaluate and prioritize projects within a portfolio. It begins with submitting a business case for a project, changing its status to “requested,” and enabling options to approve or reject it. Before approval, users can compare the project with others in the portfolio using the Portfolio Optimization tool.
The video emphasizes the importance of completing business cases for accurate comparisons and provides step-by-step instructions for optimizing and managing project priorities effectively.
Key takeaways
- Complete Business Cases for Fair Comparisons: Ensure all projects have completed and submitted business cases before comparing them in the Portfolio Optimization tool to avoid missing data and inaccurate evaluations.
- Filter Projects by Status: Use filters to focus on specific project statuses (e.g., requested, approved, current) for streamlined comparisons and decision-making.
- Optimize Project Scores: Adjust project scores based on priorities like high ROI or high alignment, and observe how scores change dynamically to reflect portfolio goals.
- Prioritize and Finalize Projects: Sort projects by score, drag and drop them, or exclude unselected ones. Finalize priorities by setting the order, which updates the portfolio priority field visible in views, reports, and the Resource Planner. Align Resource Planning with Portfolio Priorities: Enable the Display Portfolio Priorities option in the Resource Planner to align resource planning priorities with portfolio priorities, ensuring consistency across tools.
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