u Organizational process assets Organizational process assets include any or

U organizational process assets organizational

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u Organizational process assets. Organizational process assets include any or all processes related to the assets from an organization(s) involved in a portfolio that can be used to influence the portfolio’s success. Process assets include, but are not limited to: n Formal/informal plans; n Organization’s standard policies, methodologies, processes, and procedures; n Knowledge assets, intellectual property (IP), patents, know-hows, etc.; n Guidelines; n Lessons learned; n Templates/forms; n Knowledge and information from historical program/project records and documents (i.e., organizational knowledge base); n Annual reports; and n Key performance indicators (KPIs) from management portfolios in the past (for benchmarking purposes). PMI Member benefit licensed to: Hassan Mansouri - 9328101. Not for distribution, sale, or reproduction.
39 u Enterprise environmental factors. Enterprise environmental factors are organizational and environmental variables that can contribute to the determination of how to manage certain aspects of a portfolio. Some factors to consider are: n Organizational culture or structure, n Tools, n Personnel, n Infrastructure, n Marketplace conditions, n Governmental regulations, n Stakeholder risk tolerances, and n Economic conditions and forecasts. 3.9 PORTFOLIO OPTIMIZATION Portfolio optimization is the ongoing practice by which benefits, risks, and resources are balanced and optimized. It should be an integral part of any effective organization’s planning process to ensure that there is alignment between supply (e.g., human, financial, asset, intellectual) and demand (e.g., projects, maintenance, regulatory changes). With multiple projects either under way or in the pipeline at any one time, the balance of priorities, resource alignment, allocation, and overall bandwidth management should be effectively managed to avoid overruns of time and money and overutilization of human and technology resources. To understand how to optimize the portfolio and to manage expectations, optimize risk exposure, and plan for delivery challenges, portfolio optimization practice should be used and integrated into the organization’s annual planning process. This practice looks across all components of the portfolio, illuminates the dependencies and constraints across the portfolio, and identifies the most effective bundling of projects where synergies and leverage points are defined. Examples of typical challenges that organizations may experience related to portfolio optimization include: u Portfolios and resources not being aligned with objectives and strategies; u Lack of transparency or access to good, accurate data; u Resources being maxed out as a result of time wasted on too many low-value projects; u Difficulty in adjusting portfolios quickly in response to market changes; u Assessing impact of change in one of the components to the other components, if any (e.g., transfer of resources among components, schedule implications); and u Cyclic impact of reprioritization or optimization.

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