A project portfolio dashboard enables the leadership teams and top management of an organization to monitor and control the portfolio of multiple projects. Compared with the project management dashboard for an individual project, Portfolio Dashboard summarizes key performance indicators of all projects in the portfolio and other portfolio details. In this article, we will review details about Portfolio Dashboards for Monday.com.
Structure: Essential Elements
As the leader of an organization or a manager of the business unit/department, what would you want to know about your projects?
There is no single answer, but many: Are we on track or not? Are there any issues impeding progress? What are the risks? Do we have all resources needed to deliver the portfolio? Are we on track cost-wise?
What’s next? How do problems affect our organization, and what can we do about them?
When Monday.com is used for managing project execution, the Monday.com Project portfolio dashboard must show more than the current status. Portfolio dashboards can serve as a planning tool and support a proactive warning system for the portfolio.
Let’s review the potential structural elements below as the foundation, which you can adapt and extend to your needs.
- Overall statuses for the portfolio
- Portfolio Timeline
- The detailed structure of all projects with statuses
- Important Milestones and Dates
- Budget
- Project risk exposure
- Change Management, Action Items, and Key Decision
- Strategic alignment of the portfolio
Overall Statuses for the Portfolio Dashboard & Timeline
This part of the Monday.com Portfolio Dashboard shows the summary status of all projects and programs that are part of the portfolio, the status of the portfolio, and the timelines with key milestones/key portfolio dates.
One of the purposes of the Portfolio dashboard is to give a project manager and other project stakeholders a one-page view of the health indicators status across all the Monday.com projects.
The Detailed Structure of All Projects with Statuses
This view can show all projects and programs that are part of this portfolio on the dashboard. The graph shows the planned timeline of the portfolio project and initiatives as it spans over a while. The chart also shows a green line to indicate today’s date on the timeline. The “diamond” icons on the graph indicate the milestones, as per the project schedules for the projects and programs.
Projects and programs can also be displayed as a list with project details and statuses:
Important Milestones and Dates
This block can be used to track important milestones and dates for portfolios, programs, and projects managed using Monday.com
Budget
This block allows users to manage/control the budget – planned cost, actual cost, and benefits for the Monday.com portfolio.
Project Portfolio Dashboard Risk Exposure
All project-based organizations have an inevitable exposure to risks. Performing risk analysis in the planning phase is recommended for each project, typically identifying additional work and possible risks that need to be managed and mitigated when they trigger.
The Portfolio Risks allow an aggregated picture of Portfolio, Program, and Project risks across an entire portfolio.
Strategic Alignment
Strategic Alignment is the process where projects, programs, individual portfolios, and initiatives are aligned with the organization’s priorities and business goals. “Alignment” means initiatives must comply with the ultimate business objective at every step of the lifecycle.
Change Management, Action Items, and Key Decision
These blocks allow managers to track and monitor change requests, action items, and critical decisions recorded for the portfolio.
Summary
We encourage organizations to design and build Monday.com portfolio dashboards based on those elements and KPIs important for your business unit and organization. Dashboards must deliver clarity, provide transparency and display enough details so leadership can use them to monitor progress and make decisions.
PPM Express allows organizations to build multiple Monday.com portfolio dashboards and use various structural elements and fields when designing. With this flexibility, organizations can fulfill requirements for each leader in the organization.
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