Best Practices for Portfolio and Project Reporting in PPM Software When prospective customers approach us before using a project and portfolio management solution, a universal challenge for project managers and project leaders is reporting on project and portfolio status. Project managers can view, manage, and execute on a high-level roadmap plan, covering their long-term work strategy. Philippe Husser is a Paradigm Shaker and a Change Maker in complex global organizations with 40 years of experience. Is the stage of completion, which the project manager indicated in the project report, actually correct? On the other hand, the original layout of the other page needs to be recoverable pixel-perfectly. Format Project Portfolio Dashboard Template. As seen, this portfolio report will showcase the number of projects that the project manager is handling and will ensure that the important dates are alongside the mentions of the project. For each traffic light, the initiative accountable (with the advice of the PMO) evaluates two performances: o   The Year-to-Date performance (are we on target now? a PMO envisions for the company, classic fixed notions for the preparation come into play: The actual reporting requirements are more realistic. Below, you will find an overview of possible reports from the PMO environment. 9. Such incident is due to poor planning which then … The project status report shows the status of the project concerned. > E-Mail: info@theprojectgroup.com, This form is blocked by your cookie settings to our website. This takes away the certainty from project managers that a green traffic light will keep them “off the radar”. Add Trend Analysis to Your Project Portfolio Reporting Written by Barry Muir . If you’re looking for a similar template in a quadrant-based form, check out our Progress Impact Report template here. Do you want to modernize your reporting? They provide an overview of projects conducted in IT, marketing but can be used for other projects as well so you can use them as … A global-500 company had more than 1,500 business improvement projects running in the world. In the first post, we reviewed introductory portfolio management reports that convey the basic dimensions of the portfolio.In the second post we reviewed treemaps and advanced pareto charts that can help identify outlier projects worthy of more scrutiny. This is the only way to make them adjust their further actions to the results of the meeting. A change that may impact the accuracy By Johann Strasser Read article in GermanAs the PMO, you are responsible for the reports in project and portfolio management (PPM). The author presents information on reporting through dashboards and other BI tools. Earned Value Analysis with Microsoft Project, Establishing a PMO in 4 simple steps (+download), 6 Steps to Resource Management – How to Introduce Tactical Resource Planning Quickly, Selection criteria for portfolio meetings, Necessary information to include in reports, Everything on a page (DIN A4 portrait format). Thus, consistency in reporting this status is important. They analyze, understand and report on the potential risks and returns of a new project. After many years as a development engineer in the automotive and energy sectors, Johann Strasser spent a decade as an independent trainer and consultant in the field of project management. That you require different depths of information and frequencies of coordination for the different stakeholders at the company, Which criteria are important for a project selection when preparing your next portfolio meeting, What information you should be able to find in reports. This is inspired by what President Kennedy said to the US Congress on May 25, 1961. How often should the data be updated? Now you can get this and 4 other project portfolio management templates (including simplified portfolio dashboard, time line chart, gantt chart templates). From the project portfolio, which can be very substantial, you need to select certain projects. This encompasses not only the structure and the selection of the presented information. ), Risk situation: manageable or unfavorable (any known alternatives? These are for tasks that need to be done to make the initiative successful. It is a one-page report focusing only on the few vital projects in the portfolio.Each line contains: 1. A prior stakeholder analysis is advisable at any rate. Do the data need to be historized? Back To Portfolio Management Reporting … Project Portfolio Template. In this article, I will give you an example of the progress report template that I find to be the most effective and explain how to use the progress report template. You can easily add any number of projects, activities and assign to any individual in your team. In other words, the project team needs help. And where decisions are at present necessary. A portfolio dashboard, a single page with roll-up information from all active projects, improves visibility – without increasing administration work. 10. PMO also need that the project report should be accurate and correct. What information will I require for this? This template is intended primarily for the executive committee, the portfolio sponsor, the portfolio manager, each portfolio component accountable, and the PMO (a Portfolio Management Officer) who facilitates its update. Project reporting involves more than simply communicating the latest project updates to your team and stakeholders. Online Gantt Charts. Green means that the target is met or will be met, and that we have solid reasons justifying our level of confidence. The managers prepare such a report and details by reading every tiny aspect of the business project and pass the analysis report … Please write to us in the comment area below. Here are a few project reports you might find useful: … 6. For reports make you realize what is happening and what needs to be decided. Examples of importantelements of the project status report: 1. Finally, a portfolio is the management of … This article has introduced you to the requirements for PMO reports in project and portfolio management. In selecting a Portfolio Management System begin with the key Inventory project, organizational and reporting data fields you defined early in this … This project portfolio management KPI also conveys several changes in a project and how it will adjust and keep up with these changes, as well as eliminating excessive projects that can disrupt the balance of the number of projects that are operating in a portfolio. Portfolio management must become a part the organization’s leadership, for example, as part of ... plementation with “traffic lights” from the reporting dates to the project’s completion. It is best to work with a suitable database from the start. Additionally, project managers and agency coordinators should review all project information to ensure accuracy. This task encompasses not only the structure and the selection of the presented information. Decision-makers should see at first sight what needs to be decided. If you in the PMO are able to modify reports, you have greater flexibility. You can read more about Johann Strasser on LinkedIn and XING. This is a forward-looking statement established by the initiative owner. This provides a status overview for all projects underway, showing which projects are on schedule and what issues need to be addressed. article on the contents and process of the Project Status Report. Download. This should not be detrimental to the clarity of the overview or the intelligibility. They help to understand what is currently happening at the company. The challenge is to determine which projects vary from the plan, e.g. The following list provides criteria by which you in the PMO could make a project selection for review: What information should the reports of individual projects contain? It follows any yellow or red traffic lights. If the initiative accountable writes it in red, there is a need for help from the executive committee. The figure below clarifies how the reporting periods at the individual levels result from the individual meetings. Do you wish to be able to modify reports? For this reason, you should use standard tools as much as possible. Please, PMO Reports: Examples of Project and Portfolio Management Reports, Womenomics ou l’économie féminine : Le rôle des femmes dans la gestion de projet, Agile Project Management Certifications: A Comparison. This paper proposes guidelines for organizations using project portfolios and offers readers an understanding of how business intelligence (BI) concepts, methods, and tools can be leveraged to form the basis for better decision making. Special Download: 10 Reasons why a PMO is important (PDF file), Please fill in the form. Portfolio control process by the PMO in the multi-project environment. * Required Fields  |  Data Protection. He is also the author of a book: The High-Impact PMO. In real-time project management, the project dashboard contains the significance of a real supportive pillar. Over time, this is very likely increase, as new ones tend to be added continually. PMO report is very essential if you are preparing a project report of your business. 7. 2. As a rule, every company has several different levels requiring different reports. How you cater for quality assurance, record plan-actual variance, and prepare decisions on the next steps. Nevertheless, it’s a great reporting tool that can be used for any project/program size for the following reasons: Puts the entire project status in one concise format … It is a one-page report focusing only on the few vital projects in the portfolio. On the one hand, the underlying data from that time need to be available. The Project Management Office (PMO) is responsible for the reports in project and portfolio management (PPM). Free templates to help you become more productive. 3. You read and agreed to our Privacy Policy. What do I want to achieve with which report? Project status(“project health”, status traffic lights, indices for dates and costs) 4. Sketch of the reporting levels at the company with possible reports. An explicit, strateg… To put all of the qualities and features of a PM dashboard into real-world context by exploring these 4 essential project dashboard examples. It would be ideal if the PMO put reports at the very beginning. This template is intended primarily for the executive committee, the portfolio sponsor, the portfolio manager, each portfolio component accountable, and the PMO (a Portfolio Management Officer) who facilitates its update. His work is focused on implementing and running Strategy Management Systems, Strategic Initiative Portfolios, and Transformation Programs. 8. Project Portfolio Reporting answers questions such as: We look forward to your receiving your comment! At the same time, the frequency of reporting decreases accordingly. Among others, the following information can help to check whether the data are complete, correct and up to date: Tip: Use samples to improve data quality. Relative to the hierarchical level, the information becomes increasingly condensed. Find out more in our article on the contents and process of the Project Status Report. It shows which reports make sense across the hierarchies. How to “Finish the Mission” and Get Projects DONE, How Understanding Your Company’s Revenue Formula Will Help You Decide What to do Next, A Forward Looking Project Portfolio Status Report, The name of the strategic initiative accountable, A traffic light reporting on expected progress at completion, A traffic light reporting on expected impact at completion, A phrase telling “What is important, do NOW” (the “WIN”). Archiving is best managed by creating PDFs. Naturally, this depends to a large extent on your company’s: Example of useful reports in the hierarchy of the company. This enables the reader to grasp the critical points quickly. Last, a checklist has familiarized you with the 10 most important questions on reporting – as a guideline for your next steps. Project status in terms of time (project phase, overview of the timeline) 3. ), Resources: committed or too few (escalation or postponement? 5. “I am asking the Congress and the country to accept a firm commitment to a new course of action, a course which will last for many years and carry very heavy costs: 531 million dollars in fiscal ’62-an estimated seven to nine billion dollars additional over the next five years”. They can be summed up in one sentence: Making relevant information available to the right people in a meaningful and efficient way to be able to control projects. BrightWork includes two portfolio reporting templates: Project Office. The PMO is also responsible for ensuring the reports’ data quality. Final tip: Subscribe to the TPG Blog Newsletter now and never miss another blog post. The question of which reports are useful always requires a very individual answer. A PMO dashboard might be an overkill for a small or mid-size project level; it is more useful at a large project or at the portfolio or program level. Use the following roles in your organization to create a working Lean PPM™ framework. Resource Overview. This makes it possible to comprehend the consolidated report information in the case of inquiries. Will the reports need to be archived? In the process, you also need to decide which element is useful for which report. Unfortunately, there is no ONE project management report that is right for all. Not only the entity portfolio managers, but their entity leadership team, the project managers, and the team members received the full write and read permission on the project data (progress, impact, WIN). Good PMO reports will allow you to discern the current state in the project environment quickly. Project Portfolio Management (PPM) Monthly Status Reporting Procedure All projects registered in PPM must update project status information monthly. Should there be an option to comment on reports? • Project Portfolio Management System with the ability to create credible models so Management can view the Project Portfolio from the Top Down as well as Bottom Up. Download Project Portfolio Dashboard. Note: To demonstrate the benefits your PMO provides you should define a set of key performance indicators and align them with your stakeholders. About the author: Johann Strasser, a certified engineer, has been a managing partner at TPG The Project Group since 2001. For instance, they might tell you why a traffic light is red. In addition, many reports explain solely what was accomplished in the past, bypassing what is to be accomplished in the future. Subject to this, you need to ensure that the required information is available in the form of meaningful reports. ), Chosen option: Method A or B (documentation of the decision including reasons), All relevant resources with all activities (project availability), Complete coverage of all cost types and efforts. These dates will include all the milestone dates, the project completion date, and will also state the current status of the project as it … The right PMO KPIs will assist you in this endeavor. Yet, the accountable carries the full accountability for the information provided and communicated. Who will be working with the reports afterwards? Unlike a project management dashboard, which focuses on data for a single project, a project portfolio dashboard displays KPIs for multiple projects. You have learned what reports make sense and what questions you should be asking yourselves in this context as the PMO. > Formulaire de Contact Français You can find out more about project reporting with the 4 min Reporting overview video on either You Tube or on our website . As a result, these reports can become quite ambiguous. To obtain stellar consistency and visibility, many turn to progress report templates. You can easily track budget, risks and other key project … Project Portfolio Dashboard Template Excel is used to make a descriptive briefing of a project or business; for this purpose, there is a different excel template that can use.. Project management organizations manage a lot of projects at a time. Executives, as well as all project portfolio sponsors, need to make critical decisions on a day-to-day basis. The higher up in the hierarchy, the more condensed the information needs to be. The answers to these questions drive the choice of the traffic light color. It has to ensure the quality of the reports with regard to currency and correctness. Comparison of baseline, planned and actual values (t… At many companies, collecting the data for the reports takes longer than the actual analysis and preparation. The portfolio management and competency center, composed of the Portfolio Manager, Portfolio Administrator, and, potentially, impacted Program Managers. User acceptance was excellent. Do the reports have to be available online or offline? So, the senior executives and project managers are looking into the details of multiple … In such a case, they can be retrieved specifically in their original version, even after a long time. The results went above expectations. See more ideas about dashboards, project management dashboard, portfolio. The template will help you divide your tasks according to how far along they are as well as their potential impact on success. Tip: Use standard tools! Project Portfolio Management From Project Portfolio Management: A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Bfit(H ALi)Benefits (Harvey A. Levine) The bridge between traditional operations management and project managementand project management. This template displays real-time data from all projects in the hierarchy in a single … In many large organizations, reporting project portfolio performance presents many flaws. Project portfolio management or PPM can be understood as the process that the project managers of a firm use. It is also important to involve the employee organization regarding the internal resource data. This article will go into detail on the following topics: What is more, you will receive a checklist and examples of possible contents  for individual reports which are useful for you as the PMO. To understand project portfolio management, we’ll break the term down into its parts. Does that sound familiar? Tip: As the PMO, it is wise to keep an eye on the number of reports. Although there are hundreds of different issues and subjects for project managers to address at the right time with the right set of actions. In Lean Project Portfolio Management™, it’s important that a sensible division of labor is established through clearly defined responsibilities. For example, the resource utilization measure looks at the amount of time invested on one particular resource … For many years now, he has shared his knowledge through presentations, seminars, articles, and webinars. Philippe animates a blog at www.philippehusser.com and a community of 18,500+ followers on LinkedIn. You have read and agree to our privacy policy. When it comes to what information e.g. Agile IT Project Management at OEMs – a Status Quo? 3 Project Reporting Scenarios Your Senior Executives Will Love 1. His special focus is on PMO, project portfolios, hybrid project management, and resource management. These periodic snapshots show how well each project is doing and, with the … Project Dashboards & Reporting Templates At TPG, he applies his expertise in product development and consulting services for international clients. In such a case, the PPM system would be planned around the reports and their users. Here is a list of 7 key KPIs necessary for effective project portfolio management: 1. It requires a decision and an action. This ensures that the need for decisions is identified early enabling you to make the necessary decisions, too. This analysis in turn enables well-founded and fast decisions based on up-to-date data. Portfolio and Project Management Reports and Dashboards Project Insight allows executives, sponsors, project managers, resource managers, and team members, whether client, partner, sub-contractor or freelance, to set up and access pertinent data in real-time. If the initiative accountable writes it in black, then there is no special need nor decision expected from the executive committee. Tip: The report after a meeting is also an important medium. ) Yes-No. Let us begin with who is responsible for the contents of reports. Project Portfolio Excel Template developed to help teams to mange multiple projects, resource. Do you require ad-hoc analyses? Explanations for the states presented are also advisable. But this is only half the battle. A periodic consolidation can ensure that your reporting retains its efficiency as a whole. Finally all pictures we've been displayed in this website will inspire you all. The … This blog post will examine the key elements needed to support a robust reporting process. This can be handled much more efficiently once you do not have to collect various Excel files and consolidate them. In a multi-project environment, the selection is the challenge. Below, you will find a few additional notes on some important points from the list. Permissions control who is allowed to see what. Project portfolio management refers to the centralized management of one or more project portfolios to achieve strategic objectives. Premium. This database should allow integration with other systems and a central data evaluation for reports. It might help you to work out the reporting requirements and their possible implementation in a workshop with important stakeholders and the support of an experienced PMO consultant. 2. What decisions may or must be made where? Portfolio Manager : Head of the Portfolio Management Team, responsibilities include making project recommendations and reporting … > Training events for reporting can equip you with the necessary know-how regarding the tools. Project Portfolio Management (PPM) software stores a large amount of information that can be used to make important decisions about your organization. Individuals who needed to access specific data may also receive a read permission from the system administrator. More than 100 entities managed these projects in as many portfolios. The PMO has another important responsibility that is not always simple. Still, a drill-down to the details needs to be possible on demand. Will the recipients of the reports be able to grasp the contents? To enable you to react to the developments in the project environment really quickly, your reports need to be up to date and flexible, too. “Landing a man on the moon and returning him safely to the earth before the end of the 60s.”. One of the most current flaws is the lack of common language between different project leaders, or different portfolio managers. Their generation needs to be efficient, without unnecessary data baggage. Reporting periods in project and portfolio management. But how do you recognize whether the data of a project report are complete, correct and up to date? Among the PMO responsibilities there is another important task that is not always easy. The quick and simple answer is: Are they on track or not? All these files are easy to use, beautiful to present, fully customizable, unlocked and designed to make you … Here are three project reporting scenarios that will give your senior executives the visibility into the project pipeline, project statuses, and resource allocation on SharePoint. The problem: When introducing project and portfolio management solutions (PPM) the reporting topic is often considered too late. Project request management for selecting the right projects Often, the PMO is responsible for the preparation of the portfolio meeting. This always depends on the intended use and the recipients. This checklist with the ten most important questions can help you to think in the right direction: 1.   Who should have permissions for what? Finally all pictures we've been displayed in this site will inspire you all. Here is status report that solves many of these issues: the portfolio status report. As a result, they need real-time forward-looking visibility on their strategic initiatives and project portfolio status. Responsible for the portfolio management process. The traffic lights alone do not tell enough. They have to ensure the quality of the reports with regard to currency and correctness.The problem: When introducin… Red means that progress or impact does not satisfy the plan and requires special attention from management. Jun 2, 2017 - Explore FluentPro Software Corporation's board "Portfolio Dashboards" on Pinterest. Project managers have a tendency to make their reports look particularly inconspicuous. Yellow means that the target is not met yet, but that it will be met, and we have no need for special management attention. The PMO helps the strategic initiative accountable to choose the right updates. Reports are the basis for coordination meetings. 4. Header data(project name, number, manager, sponsor, type etc.) In this post we will look at the most common report for project portfolio … Project Portfolio Thinking Portfolio ... ations requires a focused commitment and examples set by management. But a project portfolio dashboard … with the aid of plausibility checks. The figure below provides an overview. So you should always ask yourself this question when setting up a reporting system: Tip: Honest answers to the questions are an important prerequisite for your future reports. If you decide for too much complexity, adjustments can become very complicated when people change roles. A common language allowed the company population to access a single version of truth and a joint understanding of the performance of all projects. Declared need for decisions (manually set indicator), All projects with status RED (Overall, resources, schedule …) + 3 YELLOW + 3 GREEN, Top 10 in terms of variance (cost, schedule, work), All projects above a threshold value (order / investment volume, contractual penalty …), Problem areas (technology, regions, project manager, product categories …), Achievement of milestones (standard milestones), Acceptance of deliveries planned / effected (payment milestones), Completion of work packages / deliveries (definition of “done”), Completion of tasks (not started / in progress / completed), List of open issues (open / started / completed). And for those which are not - what are the problems, how do these problems affect our organization or business and what can we do about them? Project Portfolio Dashboard Template Excel And Portfolio Management Report Sample can be beneficial inspiration for those who seek an image according specific topic, you will find it in this website. The PMO’s goal is to identify the critical projects. It is possible to save them automatically to a database. Thank you. ), Budget: available or too low (continue only after increase? Operational efficiency The operational efficiency KPI is utilized for measuring the team performance as well as resource utilization. Will the reports need to be printed? Stay on top of project progress by visualizing your goals and plans, with all major steps, in modernized classic Gantt charts. While reports tend to look similar, they have to be adapted to the respective processes and needs of the company. Implementing them can cause a lot of effort. Portfolio Management Reporting Templates And Project Portfolio Reporting Examples can be beneficial inspiration for those who seek an image according specific categories, you will find it in this site. > Contact Form English Note: If you are looking for external support in setting up a PMO, you can find PMO consulting here. 2,558. The higher up in the hierarchy, the more condensed is the information and the less frequent the reporting. PMO Interview on the COVID-19 Crisis: What does the future hold for working from home on projects? This will be your Project Management System to perform and track verity of functions while working on any project. At what time was the transfer of data from external systems? Only these should undergo a detailed scrutiny in the portfolio meeting. How often should the reports be issued? The Enterprise PMO implemented a simple Project Portfolio Management System that allowed them to monitor the project performance based on the template. The subsequent chapter will introduce you to the rquirements for reports in project and portfolio management. They help you focus on the essentials and get the most out of your PPM system. Comments in reports should point very clearly to issues that require particular attention. This is the third post in a series on portfolio management reports. During the meeting, the necessary data to provide answers to the decision-makers’ questions need to be available – preferably at the push of a button. ... project milestones, potential ROI, reporting … Leaders need to make decisions and take action. Just as traffic lights do not mean the same thing, KPIs and measures tend to cover a large variety as well. The leadership team used the report during short and focused reviews where they were able to take informed decisions based on forward-looking information they felt comfortable with. Executing projects is a time-related activity. Types of project management reports. Well managed projects will have regular review dates where project progress data is gathered, collated and reported. Do you have any questions or feel we have missed an essential point? L’analyse de la valeur acquise avec Microsoft Project, Resource Management on a Whole New Level for WÖRWAG Pharma with Project Online (Case Study), Project Management Certifications & Project Manager Salaries: A Comparison, Les rétrospectives pour les projets Agiles– guide pratique (+ téléchargements), Requirements for PMO Reports in Project and Portfolio Management, Project Management Reports for Different Stakeholders at the Company, Reporting Periods in Portfolio and Project Management, Selection in the Multi-Project Environment, Possible Contents for Reports of Individual Projects, Efficient Data Collection as the Basis for PMO Reports, Checklist: The 10 Most Important Questions on Reporting, Conclusion – PMO Reports for Project and Portfolio Management. As it relates to PPM, a project is an individual effort to create a discrete product or service in a bounded amount of time. As general manager of an organizational unit, what would you want to know about the projects in your unit? Use this template to analyze and collectively manage a group of current or proposed projects based on numerous key characteristics. Possible information on results, deliveries and states could be: For quality assurance, the report should include plausibility checks, such as: To determine the plan-actual variance we recommend the following information: When it comes to decisions on the next steps, the following information is helpful: Once the PMO has prepared the meeting, it is important to ensure one thing. As the PMO, you should therefore pick out a few projects with green status alongside those with red and yellow status indicators. These need to be the ones which can be covered during the portfolio meeting. It is a way to bridge the gap between strategy and implementation and ensures that an organization can leverage its project selection and execution successfully. This leaves more time for the analysis of the reports. ) Yes-No, o   The Reforecast performance (will we be on target at the end of the project? The Best Project Management Dashboard Examples. It is important to note that the strategic initiative accountable updates the information, not the PMO. Can handle up to 10 projects and all the data for the projects is defined in a single tab. A method for PMO implementation helps to reach Level 2 of the the Gartner PPM Maturity Model within a maximum of 99 days. You can also use project reports to mitigate risk, monitor budgets and timelines, and build more accurate project plans. %Complete (no appropriate statement below 100% … 99% syndrome, Comparison between remaining effort and reported stage of completion, Relation between %Cost / %Work / %Time / %Physical Complete (relation of the values to each other), Deliveries: Plan / actual of quality, scheduling, effort, cost, Work outstanding: Clarity of proof of concept, work / budget, cost / budget, schedule / plan, Order / follow-up: entered or not (continue regardless? If a report is historized, that means the state of the report on a particular date can be retrieved at a later stage. During his tenure, he also served as project manager for software projects in the construction industry and provided scheduling and cost management support for large-scale construction projects.