From the course: How to Successfully Lead a PMO
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Annual budget, work intake, and project portfolio prioritization
From the course: How to Successfully Lead a PMO
Annual budget, work intake, and project portfolio prioritization
- In an ideal world your organization would have an unlimited budget to spend on anything it likes, but in the real world, you have to do your best with the limited resources you have. Who do you think is best suited for managing this entire project portfolio's priority? You guessed it, you and your PMO. Most organizations have a yearly planning and budgeting process to have the right things being worked on at the right time by the right people in the right way. If your organization doesn't have it, then as a PMO leader why not pitch it to your executive leadership and get it started? Show the executives that the projects they want to fund should have low risks and high ROIs, and that they have measurable outcomes from their projects. Help the project sponsors build strong cases for their projects based on these guidelines. Create processes and tools, like a project scoring system, based on the project's expected risk and…
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