PD-Trak’s enterprise project/ product portfolio management software functions can be used to plan multiple portfolios at the business unit level and roll up the business unit portfolios to the enterprise level to further plan, review and monitor the overall enterprise portfolio of projects. Or this PPM tool can just be used to plan a portfolio of products or projects at the business unit or department level.
A second category of documents are ad-hoc documents developed over the course of the project which can be grouped into categories and managed.
These tools are designed to help you develop the strongest possible portfolio plan for the future. If you were developing the list of target projects for next year (see Idea Management function), your business planning process would have defined your strategic objectives and your constraints in terms of available funds and resources for project execution.
The next step is to conduct a preliminary investigation of the product opportunity, define the project and develop a business case for the project. A high-level approach is used to quickly plan resources for portfolio projects. A business case is easily developed for the portfolio projects. Scorecards and financial metrics are used to prioritize and rank projects (Project Portfolio Reporting) in this portfolio to maximize value. Product line and technology roadmaps and portfolio charts are used to achieve balance and to align projects with company strategy.
The final step is to test the portfolio to determine if it can be accomplished with planned resources and also achieves the financial plan in terms of R&D investment and revenue and profit from new products. Future planned resources for the portfolio planning period can be established in the Resource Pool. Based on the resource requirements for the projects in the proposed portfolio, resource planning is run to check that the proposed portfolio of projects is achievable with the planned resources.