Portfolio Dashboard

A Guide to Creating an Effective Project Portfolio Dashboard

What is a Project Portfolio Dashboard?

A project portfolio dashboard is a visual tool that provides a comprehensive view of the progress and health of all the projects in a portfolio. It gives stakeholders a quick and easy way to see how projects are performing against key metrics, such as cost, schedule, and risk.

Benefits of a Project Portfolio Dashboard

There are many benefits to using a project portfolio dashboard, including:

• Improved decision-making: A project portfolio dashboard can help stakeholders make better decisions about which projects to prioritize and how to allocate resources.
• Increased transparency: A project portfolio dashboard can help stakeholders see how projects are performing, which can increase transparency and accountability.
• Improved communication: A project portfolio dashboard can help stakeholders communicate more effectively about projects, which can reduce misunderstandings and delays.

How to Create an Effective Project Portfolio Dashboard

There are a few key steps to creating an effective project portfolio dashboard:

1. Identify your stakeholders: The first step is to identify the stakeholders who will be using the dashboard. This will help you determine what information to include and how to present it.
2. Define your metrics: Once you know who your stakeholders are, you need to define the metrics that you will track on the dashboard. These metrics should be relevant to the stakeholders and should provide insights into the health of the projects.
3. Choose a visualization tool: There are many different visualization tools available, such as Excel, Power BI, and Tableau. Choose a tool that is easy to use and that can create the types of visualizations that you need.
4. Create the dashboard: Once you have chosen a visualization tool, you can start to create the dashboard. Include the metrics that you have defined and use visualizations to make the data easy to understand.

Conclusion

A project portfolio dashboard can be a valuable tool for project managers and stakeholders. By following these steps, you can create an effective dashboard that will help you make better decisions, increase transparency, and improve communication.