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By effectively optimizing your portfolio, you can begin to see a higher return by prioritising with the most successful objectives. As a long term objective, Portfolio Optimization should greatly reduce your spend on non-financially viable projects.
What benefits can Portfolio Optimization create?
Portfolio optimization provides five levels for project portfolio management, including:
- Put all your projects into one database.
- Prioritize important projects in your database.
- Divide the projects into two or three budgets based on investment type.
- Create an automated repository.
- Apply modern portfolio theory, including risk-return tools that map project risk on a curve.
In 2009, a study had found that a comprehensive project portfolio management tool-
* “Is likely to provide an ROI of more than 250%”
* Craig Symons, “The ROI of Project Portfolio Management Tools,” Forrester Research (May 8, 2009)
When should Portfolio Optimization be used?
- Portfolio Optimization should be used when program agenda seems to exceed organizations resources.
- Important management and technical resources are at their limit.
- When set programs show to have confliction of objectives.
- If objectives are over-optimistic in comparison to the track record of delivery success.
All in all, ROI can help develop a strong understanding of how to make a correct decision based on previous success. ROI tools can be used by creating an assessment based on risk and return. This will in turn assist in the development of businesses through a higher profit margin.
Companies we have worked with
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