Managing the Portfolio

This section deals with the co-ordination and management of project delivery according to the Programme Plan.

Monitoring progress

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What you need to do

Progress against the Programme Plan is monitored and tracked using information provided by the projects. Key areas are:

Outputs - project outputs must meet customer requirements

Timely completion - each project should be responsible for adhering to timely forecasts and working within tolerances set by the programme level.

Risks, issues and assumptions - project teams need to be open and honest about risks and issues. Assumptions made at the project level can turn into risks at the programme level

Estimates - the accuracy of cost and resource estimates may have an important influence on the programme's business case and hence time and attention should be paid to ensuring these are as accurate as possible.

Costs and benefits - tracking the tolerances on costs and contribution towards benefits of projects and that benefits realisation is on profile.

Resources - checking for sufficient funds and availability of required skills

Scope - changes will inevitably occur, but they need to be formally managed under change control to avoid unintentional scope creep and to ensure all projects within the programme are clear as to their objectives.

Points to consider

Projects within a programme make up a mutually dependent network. A failure to recognize and track risks and issues could jeopardize both other projects and the benefits expected from the programme as a whole.