Have you ever felt that taking on one more project would make your head explode? Chances are there’s someone further down the corporate ladder who feels the same way. Chances also are that someone higher up is currently in their office preparing to approach you with that one more thing to do. If each member of the organization could learn to look beyond their cubicle and take a glance into the department’s projects as a whole, time could be saved and overtime avoided.
This is where portfolio management comes in. Matt Heusser of TechTarget.com says that portfolio management is a way to view the projects of the department holistically. Each individual should create a spreadsheet analyzing what they are doing. That way, when approached with a new project, both you and your boss can decide if it’s a good idea for you to take it on. In addition, a spreadsheet should be made for the whole department, estimating what can be accomplished on a monthly basis, whether more staff needs to be hired, or whether projects will have to be turned down. Whatever your reason for adopting portfolio management, it’s a way to streamline your department and make the workload easier for everyone.