The Projects page is where all of the Portfolio data is managed. The term “Project” represents any investment in a portfolio that needs to be planned. Project data is managed using familiar spreadsheet format where each Row represents a Project in the Portfolio and each Column represents a Field providing additional metadata for that specific Project.
The Project Name column is always locked to the left of the screen and will always be visible even when scrolling.
There are three default Fields (columns) that are automatically added for every Portfolio. These Fields are Status, Start Date, and End Date. Additional information regarding these fields can be found in sections 3.5 and 3.6 respectively.
To add Projects to the Portfolio, click the more menu where you will see an option to Add Projects.
Once you click Add Projects, a form will appear where new Projects can be entered. Project data can either be entered manually or pasted in from data in your clipboard.
When adding new Projects, you are required to have at a minimum a Project Name and a Status. By default new projects will be added with a status of Draft. This can be updated if desired prior to adding to the portfolio. All other fields in the Add Project field are optional. For fields that require numeric data (Value, Cost, or Risk Dimensions – see section Mapping & Value, Cost, Risk, Balance (VCRB) Overview) the color of the cell will display red when the format is incorrect. As you add projects, the total number of Projects to be added will display in the button in the bottom right so that you are aware of what is being added before confirming. When there are any new Projects that have incomplete data, this confirmation button will be disabled until the data is updated and complete.
To add a field to the Portfolio, click the more menu where you will see an option to Add Field.
Clicking “Add Field” brings up a dialog that allows you to type in the Field Name and define which type of field the data is: Value, Cost, Risk, Balance, or Other Information.
A Field Description can be provided to provide users context of the definition of the specific field. The description will display in the Project Details view as well as Idea Engine form (where applicable). This field is optional and can be left blank if desired. There is a maximum length of 500 characters for Field Descriptions.
The Name of the Field defines what the Field will be called in the app. It should be descriptive to allow other users to understand what the Field Represents. Field Names must be unique within a Portfolio.
Decision Lens uses a standard framework to organize and analyze portfolio data. Each field in the portfolio must be mapped to a Field Type. All fields must be mapped to a Field Type.
Decision Lens uses a purpose driven framework to organize, prioritize, and analyze portfolio data. Each field in the portfolio must be mapped to a Field Type. There are four main Field Types (Value, Cost, Risk, and Balance) as well as an “Other” Field Type.
Value: These are Fields that represent things you want to do better on. Examples include Revenue, Mission Readiness, Net Present Value, Miles of roadway in good repair, etc.
Cost: These are Fields that represent things that you are constrained on. You have a limited amount of resources, and each project uses those up, so you cannot possibly do everything. Examples are Pools of Money, FTEs, Hours, etc
Risk: These are Fields that represent the amount of uncertainty that a project will bring about the results it claimed it would. Examples are Likelihood of Success, Technical Complexity, Material Risk, etc.
Balance: These are Fields that represent things that categorize your Portfolio. It will be used to determine if your plans have the appropriate balance of resourcing across these categories. Examples are Region, Business Area, Strategic Objective, Investment Type, etc.
Tip: Only map the key fields that represent critical data for your portfolio to Value, Cost, Risk, and Balance. Only these fields will be analyzed by our algorithms. All other metadata can be simply mapped to Other.
Choose which is better
For Value and Risk Field Types, data entries for each project must be numeric in order to have the Decision Lens Algorithms be able to analyze. The user has the ability to set whether higher (eg Cost Savings or ROI) or lower (eg number of defects or time to market) numbers are desirable.
How are you populating your data?
There are multiple ways to populate data depending on data availability.
- Manual: Use available numeric data to represent the field values
- Quick Estimate (available for Value or Risk): Use a quick 1-5 scale to represent the field values. Quick Estimates are useful as initial placeholders where hard data is not yet available.
- AHP (Value Only): Use an in-depth collaborative decision-making methodology in order to derive a "Value Score". This method, while more robust, will also require additional time and effort in configuration.
When a new Field is added, it will initially display as the rightmost column in the Projects page by default.
A colored icon will display next to each Field Name indicating the Field Type (Value, Cost, Risk , and Balance). All other Field Types will display no icon.
Please see related video