Prioritizing is one of the main functions of portfolio management as it helps streamline the process. Having an overall budget across all active projects is essential to the management process. Projects should be analyzed collectively in order to have a clear understanding of their goals.
Working toward process improvement calls for managing and assessing essential process requirements throughout the production phase of products/services. This can be only achieved through applying some common and innovative Six Sigma methodologies with a perfection rate of 3.4 parts per million.
This article highlights the key points of a dynamic five-step risk management process. Kevin Buehler, Andrew Freeman, and Ron Hulme developed the process that they introduced in the Harvard Business Review article, “Owning the Right Risk.”