Working with Portfolio Management
Getting Started in the Portfolio Workspace
The field layout for Portfolios has changed and new fields for both Project Tracking and Resource Capacity have been added.
•Adding Information to the Overview
Adding Information to the Overview
Fields have changed in the Overview section of the Portfolio form:
| Field | Description |
|---|---|
| Portfolio Name |
Provide a unique name for the Portfolio. |
|
Portfolio Owner |
The owner name is automatically entered based on login but can be changed by entering a different name or selecting a name from the search list. |
|
Portfolio Sponsor |
The name of the corporate sponsor for the Portfolio. |
|
Summary |
A description of the projects or the goals of this Portfolio. |
| Status | Select a status for the Portfolio from the drop-down list. The choices are: Active, On hold, Cancelled, or Closed. You should choose a status for the Portfolio based on the status of all the Projects contained in that Portfolio. |
|
Start Date and End Date |
The start and end dates for all Projects that are a part of this Portfolio. |
|
Primary Strategic Objective |
Click on the magnifying glass to search for an existing objective. Click on the arrow and select Add New, Edit or Go To. To create a new Strategic Objective, complete the following fields: Objective: Mandatory field. Enter an objective (example: Reduce Customer Complaints by 50%). Focus Area: Select from the drop-down list. Choose from: Customer Satisfaction, Financial Growth, Innovation/Product, People/Culture, Processes/Operations. Status: Select from Planning, Active or Closed. Driver: Each company has its own way of deciding what their drivers are (examples: Reduce costs, Upping customer retention). Weighting: Decided by the company (example: 1-10, or High, Medium and Low). Target Date: Target date for expiry of that objective. Details: Any other pertinent information for this objective. |
| Major Portfolio |
If the company is particularly large, you may be working with both Major and Sub-Portfolios. Click on the magnifying glass to search for an existing Major Portfolio. Click on the arrow and select Add New, Edit or Go To. To create a new Major Portfolio, complete the same process as for creating a portfolio herein. |
Completing the Details Tab
The new Details tab contains fields for Effort and Health:
| Field | Description |
|---|---|
|
Planned Effort (Hours) |
Rollup of Planned Effort from Sub-Portfolio, Programs and Projects. |
|
Estimated Effort (Hours) |
Rollup of Estimated Effort from Sub-Portfolio, Programs and Projects. |
|
Actual Effort (Hours) |
Rollup of Actual Effort from Sub-Portfolio, Programs and Projects. |
| Schedule Health |
Select from On Track, At Risk, or Off Track from the drop-down list. |
| Budget Health |
Select from On Track, At Risk, or Off Track from the drop-down list. |
| Portfolio Health | Select from On Track, At Risk, or Off Track from the drop-down list. |
| Attachments | Click Attach or Paste to add attachments to the Portfolio. |
| Journal | Click Add to add notes to this Portfolio. |
Completing the Finances Tab
The new Finances tab contains all the budget-related finance fields:
| Field | Description |
|---|---|
Finances |
|
|
Portfolio Budget |
Total amount of money available for this Portfolio rolled up from the linked Master Budget Plan. Tip: This value used to be shown in the Allocated field. |
| Consumed Budget |
When Projects are completed and the Sub-Budget is in a Retired state, the Sub-Budgets used are subtracted from this field. |
| Remaining Budget |
Portfolio Budget minus Consumed Budget. This field shows you what is still available to spend for that Portfolio. |
|
Allocated Budget |
Total of Consumed Budget (what was actually paid out) plus any open Sub-Budgets that are committed to Projects. For committed Sub-Budgets, no monies may have been paid out yet but you want to account for what is coming up and that is shown here. |
|
Available Budget |
The amount left for any other projects calculated from Portfolio Budget minus Consumed Budget minus Allocated Budget. |
|
Percent Used |
Portfolio Budget minus Available Budget shown as a percentage. |
Demand Planning |
|
|
Estimated Consumed |
Consumed Budget for the Portfolio plus Estimated Total Cost from outstanding Demands. |
|
Estimated Remaining |
Estimated Remaining budget is calculated from the Allocated Budget minus the Estimated Consumed budget. |