From the course: Project Portfolio Management Foundations

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Managing change

Managing change

From the course: Project Portfolio Management Foundations

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Managing change

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- If you have been involved in projects in any way, you know that change is inevitable. That's true within portfolio management as well, and there are three distinct reasons why change happens within the portfolio. The first is simply because the goals and objectives change. The portfolio is created to deliver the business goals, and projects are approved to achieve that. Business needs change over time as new threats or opportunities arise, and sometimes one or more of the goals for the year have to be revised. When that happens, the portfolio must be adjusted to deliver on those new goals, which in turn, changes projects. The second reason for change is because the projects being delivered in the portfolio experience variances from expectations. In some ways, this is similar to the project change you may be familiar with, but here, we're concerned with the ability to meet the expected contribution to goals not variance from schedule or budget. If a project in progress can no longer…

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