When a company creates the Project Portfolio Management process it is important to evaluate the existing project inventory of the company.
In fact, evaluating inventory of current projects helps to find projects that should never have been approved.
During the analysis, Portfolio Managers could find projects that are behind schedule, over budget and with no clear relationship with vision and mission of the company.
Projects that will never deliver anything related to their expected benefits should be removed.
Keep in mind: most of the time taking an inventory will more than pay for the efforts invested in implementing the PPM process.
Skill level: Advanced