At some point in your life, you\u2019ve had to create an annual household budget. That budget typically includes the cost to \u201ckeep the lights on,\u201d several small projects, and of course, big ticket items like a cool sports car or a first-class European vacation.<\/p>\n
At the same time, you have to consider more responsible expenses, like retirement savings or replacing that leaky roof. The bottom line: Tough decisions have to be made.<\/strong><\/p>\n How do you make those decisions? Ideally, household members discuss the benefits of each option, negotiate, and draft a plan that makes everybody happy. Unfortunately, we do not live in an ideal world. The process isn\u2019t always easy, and the right decisions aren\u2019t always made.<\/p>\n As the leader of a Project Management Office, you are faced with a similar dilemma. How does a PMO leader help the business identify, evaluate and select the right projects through the annual strategic planning process<\/strong>?\u00a0We’ll tell you how.<\/p>\n In this series of articles, we will explore the critical components of a successful project planning exercise, which include:<\/p>\n Whether your budget is $1 million or $1 billion, it\u2019s important to select the right projects by taking into consideration: your organization’s budget, mix of projects, culture, and return on investment.<\/p>\n Project planning can make or break an organization\u2019s ability to achieve its immediate and long-term strategic priorities.<\/strong><\/p>\n\n Three Steps to Project Planning<\/h2>\n
Step 1: Project Intake<\/strong><\/a><\/h3>\n
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Step 2: Project Evaluation<\/strong><\/a><\/h3>\n
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Step 3: Project Selection<\/strong><\/a><\/h3>\n
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