Working with Portfolio Management

portfolio management is a is a solution designed for portfolio managers looking to effectively and efficiently manage projects within their organization portfolio managers get a consolidated view of all ongoing and upcoming projects, along with the budget data across the project management organization, so they can effectively direct the vision and keep costs manageable portfolio dashboard when you log in to the service desk console as a portfolio manager, the system automatically displays the portfolio dashboard the dashboard contains an overview of all your portfolios and their associated projects the dashboard parts are project health (in my portfolio) displays a color coded status of the health, schedule, and budget for all projects in the portfolio project assessment (in my portfolio) displays all of the projects associated with your portfolios and provides an overview of escalations, issues, risks, and status for all projects also lists the project owner and due date you can change the order of the columns active projects on time & on budget displays a pie chart of active projects on time and on budget vs projects not on time and on budget % of allocated budget remaining displays the projects, and provides a bar for each active project to display the percentage of the remaining budget the portfolio manager can access the following workspaces portfolio workspace you can create new portfolios and add projects to the portfolios from this workspace project workspace you can create new projects using this workspace for more information, refer to accessing the project workspace docid 1qwl2zbvg1tn 3arqr vb as a portfolio manager you can do the following quickly view the status of a portfolio view the details of a project link projects to your portfolio create journal entries change information for phases (such as changing the status to on hold or active) open and manage risks for the portfolio open and manage issues for the portfolio attach documents to the portfolio manage budgets and track costs getting started in the portfolio workspace when you have completed setting up a new portfolio you can go to the portfolio dashboard, to view it follow these steps to create a portfolio log in to the application as a portfolio manager open the portfolio workspace the system displays a list of portfolios do one of the following to view or edit an existing portfolio, open a portfolio to create a new portfolio, click new portfolio enter or update information on the overview section refer to adding information in the overview section docid\ kwzbw21 7c6hwanjrdc9w enter or update information where required in the tabs listed below click save adding information in the overview section this is the main section where you enter basic details for the portfolio when complete you can save the record and return later to add additional information in the tabbed sections field description name the name of the portfolio enter a unique name summary a description of the projects or the goals of this portfolio owner the owner name is automatically entered based on login but can be changed by entering a different name or selecting a name from the search list sponsor the name of the corporate sponsor for the portfolio status the status of the portfolio select a status from the list the choices are initial , active , cancelled or on hold the default status is initial when the portfolio is created, once changed you cannot revert to initial if cancelled is selected, the portfolio record is locked and cannot be edited primary strategic objective click on the magnifying glass to select a strategic objective for the portfolio if required if a suitable strategic objective is not available, you can create a new one in the strategic objective workspace major portfolio if you have a very large organization, you can nest this portfolio under a major portfolio select a portfolio you want to assign as the major portfolio if this portfolio has an associated budget, it gets automatically linked to the major portfolio start date/end date the start and end dates for all projects that are a part of this portfolio this factors into the portfolio being on schedule or on track adding information in the details tab use the details tab to add health information for the portfolio, and to view current effort information for the portfolio in the health section field description schedule select the current schedule status from the drop down menu, which can be on track , at risk or off track portfolio select the current portfolio status from the drop down menu, which can be on track , at risk or off track budget select the current portfolio budget status from the drop down menu, which can be on track , at risk or off track fields in the effort section are updated automatically from other sources, such as projects linked to the portfolio adding information in the program tab use this tab to link existing programs to the portfolio you can link one or more programs as required for more information on programs, refer to working with program management docid\ citul6lcauwzec6y k3un do any of the following in this tab to open a high level overview of the program, select it and double click to open it to link a program to this portfolio, click link the system displays a list of programs select one and click select to remove a program from the portfolio, select the program and click unlink to open the program page for a program, select the program and click go to adding information in the project tab use this tab to link existing projects to the portfolio you can link one or more projects as required for more information on projects, refer to working with project management docid 1qwl2zbvg1tn 3arqr vb do any of the following in this tab to open a high level overview of the project, select it and double click to open it to link a project to this portfolio, click link the system displays a list of projects select one and click select to remove a project from the portfolio, select the project and click unlink to open the project page for a project, select the project and click go to adding information in the demand tab this tab lists any demands that are associated to the project you can link one or more demands as required for more information, refer to working with demand management docid\ djyvjvmtnokk iqcqpvux do any of the following in this tab to open a high level overview of the demand, select it and double click to open it to link a demand to this portfolio, click link the system displays a list of demands select one and click select to remove a demand from the portfolio, select the demand and click unlink to open the demand page for a demand, select the demand and click go to adding information in the finances tab this tab provides an overview of budget allocation, expenditure, and available funds for a given portfolio use this tab to monitor key financial metrics, evaluate the impact of new demands on the overall budget, and support effective financial planning and decision making finances portfolio budget total expense planned for this portfolio allocated budget amount currently allocated to spend consumed budget costs consumed by the linked projects available budget amount available to allocate to projects or demands that is, available budget = portfolio budget allocated budget remaining budget remaining funds after the expense that is, remaining budget = allocated budget consumed budget percent used percentage of portfolio budget used if the remaining budget is lower than the available budget , this typically indicates either a budget item was not created for each cost item, or unplanned costs have reduced the actual remaining amount below the available budget demand planning available for new projects this value is same as the available budget assessed demand (included in budget) calculates demands (in assessing phase) that the portfolio manager manually includes in the budget using the include in budget action estimated available budget this is calculated as available for new projects minus assessed demand adding information in the budgets tab do any of the following in this tab to open a high level overview of the budget to view or edit, select it and double click to open it to link a budget to this portfolio, click link the system displays a list of budgets select one and click select to remove a budget from the portfolio, select the budget and click unlink to open the portfolio budget plan page to view or edit, select the budget and click go to you can edit additional details for the budget in this view to create a new portfolio budget, click new budget and enter details for the new portfolio budget you can also create a new portfolio budget from the portfolio budget plan workspace, refer to creating a portfolio budget plan docid\ wufghv599bvzmaa7xc3lo adding information in the risk tab do any of the following in this tab to open a high level overview of the risk to view or edit, select it and double click to open it to open the risk page to view or edit, click go to you can edit additional details for the risk in this view to link a risk to this portfolio, click link the system displays a list of risks select one and click select to remove a risk from the portfolio, select the risk and click unlink new risks can be added from the risk workspace adding information in the issue tab an issue record contains details of any issues associated with the portfolio, including the owner, description, severity, target and actual resolution date, escalation details and journals do any of the following in this tab to open a high level overview of the issue to view or edit, select it and double click to open it to open the issue page to view or edit, click go to you can edit additional details for the issue in this workspace to create a new issue, click new issue and enter the details once created, you can make further edits and enter additional details by opening the issue using the go to button to open the full record, or opening the issue from the issue workspace adding information in the stakeholders tab stakeholders are employees that you can link to the portfolio to link a stakeholder to this portfolio, click link the system displays a list of employees select one and click select to remove a stakeholder from the portfolio, select the entry and click unlink to open the stakeholder employee page, click go to you can view additional details for the employee in this view adding information in the additional strategic objectives tab you can add additional strategic objectives to the portfolio these are additional to the primary strategic objective, which is set in the primary strategic objective field in the overview section to link an additional strategic objective to this portfolio, click link the system displays a list of strategic objectives select one and click select do not select the same strategic objective as the one you have selected in the primary strategic objective field in the overview section to remove an additional strategic objective from the portfolio, select the entry and click unlink to open the entry in strategic objective page, click go to you can view additional details for the strategic objective in this view adding an attachment in the attachments tab refer to working with attachments and urls docid\ dwyg6strtal1zdoaecfjz adding a journal in the journals tab you can add emails and notes in the journals tab to open an existing email or note, select it, and then click go to to add an email click new record menu and select new email enter the details in the new email window, and then click save to add a note click new record menu and select new notes enter the details in the new notes window, and then click save