PPM 101: Identifying Projects | ||||||||||||
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During the business planning process, each department must determine the project work they think is important for execution within the portfolio. Identification of these medium and large projects will come from carryover projects, mandatory projects and tactical or strategic projects.
Done right, project portfolio management can do a lot of good for any organization. But it’s not easy, as many companies, large and small, have discovered. In PPM 101, an ongoing series by veteran project management consultant and author Tom Mochal, we focus on the fundamentals for organizations that are just getting started on the PPM path.
Projects can be large or small — in fact, they can be an hour or so. However, from a practical standpoint, organizations need to establish a threshold that separates project work from discretionary work.
Small projects (less than 250 hours) are defined as non-complex work involving a relatively small number of man-hours with some discretion for prioritization. It probably does not make sense to prioritize these projects individually at the portfolio level, but you may establish an overall budget for small projects and let each department prioritize work that falls within this threshold.
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