Portfolio management structures the selection, prioritization and approval of projects so that the finite resources of the organization are allocated to initiatives that best support the corporate strategy. 4me® ensures that the entire life cycle is covered from an initial improvement suggestion that is submitted as a request that is passed to change management and subsequently forwarded by a change manager to the organization’s project management office (PMO) where it feeds into demand management. There, an initial assessment is performed to estimate the value, effort, costs and risk of the proposed project.
Having the ability to compare all proposed projects enables management to make more informed decisions about the ones that should be funded to make optimal use of the available resources. The interactive waterline overview allows portfolio and program managers to drag and drop proposed projects above the waterline and immediately see the total effort, cost value and ROI of these projects.
Once projects are approved, 4me offers a number of real-time overviews that can be filtered by program. The objective is to warn portfolio and program managers as early as possible of issues with their projects. 4me relies on the Earned Value Management (EVM) methodology. EVM is extremely powerful, mainly because it exposes issues with projects at an early stage.
In addition, 4me makes use of the risks that have been identified for each project (see Risk Management). The combination of the EVM and risk management gives a holistic portfolio overview that makes it possible to quickly identify the projects that need attention.