All organizations that have gone through the formulation, design and roll out of their PMOs have found themselves overwhelmed by the number of templates, reports and dashboards that came with it. Luckily, tools like Microsoft Project Online, JIRA, Primavera P6, Power BI, etc make the job a bit easier.
Post the mass rollout of PMOs across organizations, where at project level reporting is methodical and even advanced, but portfolio reporting remains an aspect that constantly challenges the way we do things. There is a growing need for real time data and ease of access to information. Executives want to see how projects are driving strategic pillars and performance against baseline business cases.
I recently led a team in the configuration and rollout of MSP online as a portfolio reporting tool. Its functionality of portfolio prioritization perfectly addressed the desire for organizations to deliver projects aligned with strategic intent and a balance of resource requirements. It explores the use of Power Bi as a direct reporting tool through Odata feeds and personalization of performance matrix ranging from EVM to resource allocation and usage.
But of course, introducing new tools require organizations to be ready to equip resources with extensive planning skills and reporting capabilities.
Here is how organizations can ready themselves for the next level of maturity in portfolio reporting….
- Elevate Resources’ Project Planning Capacity
Embed forecasting models to anticipate overloads and skills mismatches. Offer scenario-based reports showing the trade-offs of pursuing one set of initiatives versus another.
- Introduce Agile Portfolio Concepts
Especially for organizations juggling waterfall and agile projects, integrate lean portfolio governance that allows iterative reprioritization based on changing strategies or market realities.
- Upskill Teams in story telling with Data
Even the best reports won’t land if they’re hard to interpret. Build internal capacity on performance communication and how to turn raw metrics into persuasive, actionable business cases.
- Centralize and normalize data Feeds
Connect disparate tools like JIRA, Primavera, or even ERP systems using data lakes or common connectors (e.g. Azure Data Factory and Power BI). This enables cross-functional visibility across all initiatives.
- Requirements for Strategic Performance KPI Dashboards
Use Power BI to produce executive-friendly visuals that show alignment to strategic pillars, ROI progressions, and benefit realization. Focus not just on the “what” but the “why” behind each metric.
- Beyond basic with project scheduling
The use of metrics like EVM require schedulers to go beyond baselining schedules that are not cost and resource loaded. The basics with the use of any system is that it will give you standard you input into it. “Garbage in, garbage out’. This including the methodology of progressing scheduling moving from ‘mark on track’ to actual date and duration-based reporting.
With this mind, is your organization in position to tempt to move up in maturity of portfolio reporting? And what tools are you exploring in improving the reports you give to drive strategic decisions and risk management?