- As a CIO you know you should audit your portfolio, but you don’t know where to start.
- There is a lack of portfolio and project visibility.
- Projects are out of scope, over budget, and over schedule.
Our Advice
Critical Insight
- Organizations establish processes and assume people are following them.
- There is a dilution of practices from external influences and rapid turnover rates.
- Many organizations build their processes around existing frameworks. These frameworks are great resources but they’re often missing context and clear links to tools, templates, and fiduciary duty.
Impact and Result
- The best way to get insight into your current state is to get an objective set of observations of your processes.
- Use Info-Tech’s framework to audit your portfolios and projects:
- Triage at a high level to assess the need for an audit by using the Audit Standard Triage Tool to assess your current state and the importance of conducting a deeper audit.
- Complete Info-Tech’s Project Portfolio Audit Tool:
- Validate the inputs.
- Analyze the data.
- Review the findings and create your action plan.
Audit the Project Portfolio Research & Tools
Start here – read the Executive Brief
Read our concise Executive Brief to find out why you should audit the project portfolio, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.Besides the small introduction, subscribers and consulting clients within this management domain have access to:
- Audit the Project Portfolio – Phases 1-3
1. Assess readiness
Understand your current state and determine the need for a deeper audit.
- Audit the Project Portfolio – Phase 1: Assess Readiness
- Info-Tech Audit Standard for Project Portfolio Management
- Audit Glossary of Terms
- Audit Standard Triage Tool
2. Perform project portfolio audit
Audit your selected projects and portfolios. Understand the gaps in portfolio practices.
- Audit the Project Portfolio – Phase 2: Perform Project Portfolio Audit
- Project Portfolio Audit Tool
3. Establish a plan
Document the steps you are going to take to address any issues that were uncovered in phase 2.
- Audit the Project Portfolio – Phase 3: Establish a Plan
- PPM Audit Timeline Template
Workshop: Audit the Project Portfolio
Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
1 Portfolio Audit
The Purpose
An audit of your portfolio management practices.
Key Benefits Achieved
Analysis of audit results.
Activities
1.1 Info-Tech’s Audit Standard/Engagement Context
1.2 Portfolio Audit
1.3 Input Validation
1.4 Portfolio Audit Analysis
1.5 Start/Stop/Continue
Outputs
Audit Standard and Audit Glossary of Terms
Portfolio and Project Audit Tool
Start/Stop/Continue
2 Project Audit
The Purpose
An audit of your project management practices.
Key Benefits Achieved
Analysis of audit results.
Activities
2.1 Project Audit
2.2 Input Validation
2.3 Project Audit Analysis
2.4 Start/Stop/Continue
Outputs
Portfolio and Project Audit Tool
Start/Stop/Continue
3 Action Plan
The Purpose
Create a plan to start addressing any vulnerabilities.
Key Benefits Achieved
A plan to move forward.
Activities
3.1 Action Plan
3.2 Key Takeaways
Outputs
Audit Timeline Template