An effective project portfolio management system requires
effective project selection and project execution methodologies, and
support tools. PD-Trak offers an extensive range of tools to
help you manage your project portfolio. Key objectives of
project portfolio management are as follows:
- To maximize the value of the portfolio
- To achieve balance
- To align projects with company strategy
Click here for a detailed description of the portfolio
management process (as applied in a product development environment
- similar processes can be applied to other project types).
PD-Trak provides tools aimed at a) developing a future project
portfolio plan and b) executing the plan and monitoring progress /
Some functions are available as purchased options as indicated below.
Click here to view option pricing.
Portfolio Monitoring Functions
These items included in base PD-Trak
The Master Project Schedule
the primary management report that provides flexible
reporting options that summarize the projects in the
report gives a high level view of the relative timing of
selected projects in the portfolio.
Consolidated Project Dashboard
report extracts a copy of the
worksheet from each project and adds it into a saveable workbook.
This can be used as a status reporting mechanism. (Requires Extended Project
included with Portfolio Management Reports option
Portfolio Bubble Chart
reports show the mix
and balance of selected projects in graphical format using parameters that can be set by the user.
The Existing Product Revenue worksheet allows future revenue and
profit expected from existing products to be captured and included in the
Financial Roll Up
The Financial Roll Up
report shows a roll up of the cash flow of
the projects in the portfolio.These items
included with Resource Management option
captures the resource skill types and names for the organization
including cost to deploy, headcount and project availability
allows a resource demand to be compared to resource availability
for a selected group of projects.
Portfolio and Resource Planning
These tools are designed to help you develop the strongest
possible plan for the future. If you were developing the list
of target projects for next year, your business planning process
would have defined your strategic objectives and your constraints in
terms of available funds and resources for project execution.
The next step is project selection which involves the following:
- Selecting the best ideas for next years projects (see
Idea Management page for
- Setting up preliminary Project Files to scope out the ideas
as potential projects (preliminary estimates of timing, expense,
payback and risk)
- Adding these potential projects to the existing project
portfolio (projects that will continue into next year).
- Prioritizing the projects in this portfolio to maximize
value, achieve balance and to align with company strategy.
- Determining how many projects can be executed given resource
capacity / constraints.
The portfolio and resource planning tools are designed to support
steps 3-5 in this process.