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How Easy Is It To Build A Project Portfolio In Optsee®?
To compare, let's look first at how you could analyze your portfolio on paper. After we do that, it will be easy to see how that data fits into Optsee®.First, you would decide what your purpose was, like "Select Development Project Portfolio." Next you could write down the criteria or attributes that you were going to use to compare the value of different projects:
Once you had decided what your criteria was going to be for comparing your projects, you'd need to decide which were the most important criteria, and rank them in order:
Before you collected the data for your projects, you'd want to decide what units you were going to use for eack attribute. For example, you could use dollars for cost and reward, percentages for probabilities, number of weeks for time, etc.:
Next, you'd need to collect the data for each project. Here, we have two examples. Notice that both the estimated value and the uncertainty associated with each attribute are captured like "Reward: 100 +/- 8%":
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Then...
For a portfolio analysis in Optsee® that is the most basic data entry that you'll need to do. Of course, there is a lot more that you can do to refine your portfolio attributes, but just this much will get you well on the road to mastering the application. Optsee® manages the rest of the heavy-lifting for you.
Later, we'll look at Optsee® forms so you can see how the "portfolio on paper" translates into the forms.
Optsee® ranks all of your projects in the Prioritizer by testing it in thousands of different models based on your attribute rankings and project uncertainties to give you most-likely and high and low values scores. You can also see the sums at the bottom. If you could do that on paper, the results would look like this:
Next, if you don't have enough money, resources, or time to do all the projects in your portfolio, you can use the Optimizer to identify the combination of projects that will yield the highest value portfolio from billions or trillions of possibilities. And then you're done!
Now, lets take a look at how a "portfolio on paper" is handled in the application.
Remember our ranked list of attributes? Here is how that list is managed in Optsee®:
And remember the project data that we collected? Here is the form that is used in Optsee®:
All of the prioritized projects and data are captured and ranked in the portfolio form:
The Optimizer makes looking at different cost, resource, and time constraints a snap. You can run different optimizations and then compare to see which projects were selected or not.
Like any powerful software application, there's a lot that Optsee® can do that this brief overview didn't show. But Optsee® has been designed to give you fast out-of-the box value so you can get started quickly.