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5 Things Unsuccessful Portfolio Managers Do

Knowing what not to do is often as important as knowing what to do, especially when it comes to something with consequences as costly as that of project portfolio management. On that note, how might we imagine a lousy portfolio manager? In a post for Voices on Project Management, Jen Skrabak reveals five things ineffective portfolio managers do, and where they can redirect their focus.

Five Bad Behaviors

  1. Worrying about what they cannot change
  2. Giving up when the going gets tough
  3. Setting unrealistic goals
  4. Staying within the bounds of comfort
  5. Forgetting to remain balanced

There is no use in worrying about the things that cannot be changed. Some project managers have a tendency to dwell on the past when they should simply accept the failure and move forward in a progressive fashion. The key is to remain focused on the elements that can be influenced.

It is easy to walk away when things become difficult, but this does not create an environment for success. Sometimes things seem unobtainable, but in actuality, when broken down into more easily achieved goals, everything can be accomplished. A team meeting may allow for creative solutions to be developed, and the once overwhelming task is suddenly not so daunting.

On the opposite side of the spectrum, sometimes it is the manager who is setting the goals that are not achievable. There is a fine line between stretching to try to accomplish something more and going after something entirely impossible. It is important to keep in mind that sometimes a project needs to be stopped, and a flawed project manager has a tendency to push on despite the key resources being unavailable.

When trying to create a plan that is void of risk, some crucial opportunities may be missed. A good portfolio manager advocates taking risks that are in actuality good opportunities. Opportunity is the key to transformation, which is essential for a long-term successful organization.

Balancing all aspects of life is important when it comes to portfolio management. If a manager is neglecting to take care of themselves, the organization may actually suffer because they are not going to perform their best. It is just as important to have a social life as it is to eat right, exercise, and perform work-related tasks dutifully.

You can read the original post here: http://www.projectmanagement.com/blog/Voices-on-Project-Management/15145/

About Danielle Koehler

Danielle is a staff writer for CAI's Accelerating IT Success. She has degrees in English and human resource management from Shippensburg University.

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