With most organisations reporting more projects that they can resource, stopping projects which are addressing yesterday’s problems may be even more important than not starting those projects designed to address today’s.
In a review of 15 client portfolios, the UK project consultancy group, CITI reported that in annual portfolio prioritisation more than one-third of the projects and programmes approved were carried forwarded from previous years, with 20% having survived two annual review processes. The question perhaps to ask is – does this reflect a real need for long-term projects or is it that management decision making around stopping something is just so much harder than approving a project to start?
Significant portfolio management attention has been paid over the last few years to developing improved governance processes around the front-end selection and prioritisation of projects. But portfolio monitoring and control is a much greyer area and often confusion arises between the governance responsibilities at the portfolio and project sponsorship levels.Continue reading “Culling projects: A critical portfolio process”