Program or portfolio management is an overview of the overall project activities of an organization or department.
Program or portfolio management is an overview of the overall project activities of an organization or department. It consists of all future and ongoing projects and allows management to prioritize between projects and to form a comprehensive overview, so they can use the managerial forces where it is most important.
LSV Group executes individual projects in the portfolio according to Six Sigmas principles and the DMAIC model.
We always work with our change management model when we run individual projects for our customers. In order to implement the program management, which is a management of the project portfolio, we work according to three principles. There is no universal way of working with portfolio management.
Fundamentally, it is about having a firm and common way in the organization to select and implement the projects. Our experience shows that if three principles are followed, the success rate increases significantly – see the Yellow box.
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3 Principles to Increase the Success Rate