Today's changing trends are forcing companies to constantly adapt their strategic plans. But strategy cannot be a driver of growth without the ability to execute it. In order to do that, strategy needs to be broken down into projects containing all the information and steps necessary to reach the goals.

The monday.com Work Management tool offers different platforms to list, manage and track ongoing activities depending on the length and frequency of an objective. While Project Management focuses on unique, short-term goals that are temporary, Portfolio Management is ideal for long-term goals involving strategic, cohesive objectives.

Benefits of Portfolio Management

Portfolio Management helps companies ensure their projects are working together in perfect harmony by grouping the related projects into a collection (portfolio). With this step, companies can achieve their long-term goals and add more value to each project. It can also demonstrate the distribution of funds between different projects and allow to fine-tune them based on the expected results.

Portfolio Management by monday.com is basically a designated, centralized hub where project information can be easily found. While individual project boards show the finer details of their respective projects, the Portfolio Management board allows to see the high-level view. The board is divided into groups that showcase projects’ phase like new requests, under consideration, approved and rejected projects. The most relevant information can also be found here about the projects, including documents, deadlines, and level of priority.

Simplified decision-making

When a portfolio and the projects it contains are clear, companies can face challenges with more certainty. By consolidating the most important components of projects in one place the evaluation of risks is easier, so companies can be better prepared. Through the platform risks can be assigned to each project with description, implications, risk owner, probability and even response plan.

Built-in automation

With automation boards moving groups when their status is changed is easy. A key feature is the ability to automatically create a new individual board for every project that receives the active status. The specialized, ready-made template for the project boards and the automations included in the Portfolio Management board provide the structure to efficiently manage any project. 

Get started 

Learn about the details and the settings through our hands-on webinar here. After a quick registration, you will have access to the step-by-step instructions from our experts.

If you need more information, schedule a meeting with our experts so we can build a solution for you or provide the support you need to organize your workflow. 

If you are interested in more features check out our summary about CRM tools, or stay tuned, we will be sharing more webinars about tracking campaigns and automating recruitment processes.