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Prior to a TeamHeadquarters roll out, here is a common portfolio review process, along with drawbacks:
There is a call for project updates to be submitted 10-14 days before the review meeting. Updates are submitted in a reasonably consistent format, such as spreadsheets, documents, or email forms.
By the time the information is reviewed, it has aged and has uncertain value. In many cases, it will never be read.
The updates are integrated into a single document, with further analysis and publication of aggregated statistics and financials.
This process is manual, costly and error prone.
The document is pre-mailed or posted to an intranet before the meeting.
Now, there are countless copies of the information in circulation. Confidentiality is uncertain. What is certain is that every copy of a document, physical or electronic, comes with the cost of producing, handling, and eventually destroying it.
In other words, the process described above can be an inefficient and costly way to produce documents that may never be read.
The TeamHeadquarters Portfolio Reporting system is based on Management Reports, which are static snapshots of the project along with commentary from the project manager. The process is similar to what was described above, except:
Management Reports can be submitted any time.
Integration and aggregation of multiple projects into a single report is automated, removing the need for manual intervention.
Portfolio Reports can be previewed on line, rather than published or distributed.
Management Reports take very little time to publish, and drive a highly efficient process.
