The Project Portfolio Matrix

As a procurement professional you might be juggling several tenders or projects simultaneously. Learning to be a successful multi tasker means that you need to learn the act of balancing.

Start by classifying your current projects and use the above image as a guidance. In simple if we take two examples cost and time , how much is my project leans towards the cost or time axis, what will help you reach your objective faster.

Develop a project portfolio, I call these stretch projects sometimes within your remit, sometimes outside.

Projects should support your annual objectives, let’s assume you have 360 degrees performance reviews, which projects will help you achieve your overriding vision and which projects will help you move forward in your career. Often we don’t have a free choice on what projects we work on as this is dictated by the business, however we do have some freedom to build a little extra capacity to either do more for projects that make us stretch or build capacity to request to work on specific projects. Even if these are outside of your every day remit, if you are working on them in addition to your day to day role, offer of free assistance is unlikely to be rejected.

Remember that additional project activities that are not within your remit and do not add value might be ok, but the key question is does the stretch help you achieve your key objectives. If not drop the stretch projects and concentrate your efforts in other areas.

There is a saying, aim too high and we miss it, aim too low and we reach it.

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