Level: Intermediate
Author(s): John C. Philbrick, PE CCP; Francisco A. Cruz Moreno, PE
Venue: 2017 AACE International Annual Meeting, Orlando, FL
Abstract: Initiated, implemented and maintained properly, portfolio scheduling can provide invaluable information to its users. This paper will provide examples of some of the benefits that portfolio scheduling can achieve. The paper will also discuss the implementation of some of the key processes required to ensure success in the development of a portfolio scheduling system. Some of the key components to the development of successful portfolio scheduling systems are establishment of criteria for portfolio governance, engagement of the project stakeholders; uniformity in the project schedules; quality of scheduling; and effective dashboards, tables, and reports that deliver useful data to the end user in an easily discernible manner. Use of a portfolio scheduling system enables the management to strategically prioritize which projects best meet the organization’s goals, plan for contingencies, and calculate risk at the portfolio level. The goal is to provide insightful and actionable information to the executive management responsible for managing a complex and seemingly disparate portfolio of projects. The authors have drawn upon their experience working for a large electric utility and a government agency with a multi-billion dollar per year work program.
Author(s): John C. Philbrick, PE CCP; Francisco A. Cruz Moreno, PE
Venue: 2017 AACE International Annual Meeting, Orlando, FL
Abstract: Initiated, implemented and maintained properly, portfolio scheduling can provide invaluable information to its users. This paper will provide examples of some of the benefits that portfolio scheduling can achieve. The paper will also discuss the implementation of some of the key processes required to ensure success in the development of a portfolio scheduling system. Some of the key components to the development of successful portfolio scheduling systems are establishment of criteria for portfolio governance, engagement of the project stakeholders; uniformity in the project schedules; quality of scheduling; and effective dashboards, tables, and reports that deliver useful data to the end user in an easily discernible manner. Use of a portfolio scheduling system enables the management to strategically prioritize which projects best meet the organization’s goals, plan for contingencies, and calculate risk at the portfolio level. The goal is to provide insightful and actionable information to the executive management responsible for managing a complex and seemingly disparate portfolio of projects. The authors have drawn upon their experience working for a large electric utility and a government agency with a multi-billion dollar per year work program.