What does a vCIO do? Project Portfolio Review

We are continuing our series that gives back to the industry answering the question, “What does a vCIO do?” and each article will outline a specific service offering of Outsourced CIO LLC in the day and the life of a vCIO.  Some call this “virtual” Chief Information Officer or “fractional” CIO and for the sake of this series, we will be changing the “v” to mean “VALUED” CIO.  Because the vCIO creates value for growing businesses who might not otherwise be able to afford a Chief Information Officer.  Our topic for today is “Project Portfolio Review.”

This is a monthly service, estimated time to complete:  1-2 hours.

Deliverable: The deliverable is a collection of Project Review Sheets that will serve to inform the issues in the Quarterly Planning Session.

Description:  Let’s define a Project, Programs and Portfolio before digging into the description.  Per the PMBOK 6th Ed, a project is a temporary endeavor undertaken to create a unique product, service or result.  A program is a group of related, projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.  A portfolio is a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. It’s important to regularly review the project portfolio. We can re-energize slow projects, eliminate roadblocks, and gain a better perspective on where the progress of our development initiatives.

Tools:

  • Project Portfolio Review To-Do List (template.
  • Project Portfolio Review Sheet (template) 
  • *Email us if you would like a copy of these template (s). 

That’s is it!  That is what a vCIO does.  Check out the online video on this topic as well.  Have a tech-stress free day from Outsourced CIO LLC, where we demystify technology for growing businesses.

*Extra resources reinforcing the topic area below.  Disclaimer, resources/links are not necessarily endorsing the products, goods, and services of the author and should not be construed as an Official OCIO endorsement of said resource/vendor.