Most of us would agree that setting up an efficient Portfolio Management Process (PMP) is extremely important for any organization running multiple projects with limited resources.
An efficient Portfolio Management Process (PMP) allows an organization to get the most ‘bang for the buck’ by utilizing its limited resources to most fruitful (or strategic) projects.
But whose responsibility is it to set up this efficient Portfolio Management Process (PMP) in the first place? Many would say it is the PMOs responsibility. I also used to think like this until one day I learnt from experience that there is more to it. The problem with PMO alone owning the PMP is the ‘indifference’ that sets in from other parts of the organization.