Project scoring or the art of aligning new projects with your strategy!
Discover the three benefits of the scoring tool!
Scoring is an "abacus" type tool, that is, a table that allows an evaluation or costing, which, in the initiation phase of a project request, for example, allows you to evaluate the relevance of launching or not launching a project in light of its alignment with the portfolio strategy (i.e. the value) and the risks that you would take by investing in this project.
Scoring has numerous advantages in terms of completing and securing the project request initiation work.
The main purpose of a scoring tool in project portfolio governance is to provide the means to assess the strategic alignment of projects with the organization's objectives in a tangible way.
OBJECTIVITY, mother of all scoring virtues:
Why is scoring a supposedly objective tool?
That’s because it is based on automatic and homogenous calculations for all projects, carried out based on the answers given to questions.
These inquiries are primarily concerned with the concepts of value and a priori risks, as well as the project request itself, both in the general context of the organization and its strategy, as well as the specific context of the project portfolio.
VISUALIZATION, another advantage of the tool:
Scoring is primarily a decision-making tool that, once implemented across a portfolio of projects, can result in the creation of highly visual reports such as the SuitePro-G “bubbles chart” which shows the graphic representation of the portfolio's scorings based on the value, risks, and size of the projects.
SIMPLICITY & SHAREABILITY:
Scoring is a tool that is truly accessible and understandable to all!
As a result, it does not necessitate significant change management.
Furthermore, the scoring results are shared among the various players in the project portfolio, making it a collaborative work tool that supports exchange and tangible efficiency in project portfolio management.
In conclusion, stakeholders should not overlook the preliminary project initiation phase. It even proves to be crucial in determining whether or not the project will be launched!
Project initiation guides the entire planning and implementation of the project, because it is during this phase that we are supposed to determine the project’s final objective.
Some PPM tools are more or less flexible when it comes to scoring pre-project: a graphical representation capacity during reporting to which you’ll need to pay attention in order to make it the most efficient decision-making tool possible for your project requests management.
At IQar, we have developed SuitePro-G, a PPM tool that includes an administrator-configurable scoring system and an automatic representation of this scoring in the form of a Bubble chart.
Would you like to learn more? Request a SuitePro-G demonstration right here!