Creating and preparing your Portfolio is the first step before adding new Projects and growing a more mature innovation organization. Work with your dedicated Success Team Lead to ensure your Portfolio(s) is ready to go before uploading Projects and adding new team members. Here are the steps to do that:
🏗️ Creating stages and Decision Criteria
Your Portfolio serves as a virtual accelerator, laying out the clear stages of idea maturity and each idea needs to go through to get from "idea" to "scaled capability".
Each stage includes "Decision Criteria", milestones that an ideator needs to meet to successfully progress to the next stage of maturity.
Productable suggests a stage and Decision Criteria model that mirrors iterative project development methodologies like Lean Startup (ask your Success Team Lead) but Portfolio Owners and Organizations Owners can create whatever stages and Decision Criteria they like, modeling what your organization typically requires.
⚒️ Check out this tutorial to learn how to create stages and Decision Criteria.
🗄️ Creating Custom Fields
You can enable custom fields at the Portfolio, Sub-portfolio, and Project level.
Make these fields required or optional for any entity created within your organization.
When you create a new field, you can customize the name, description, and field type to make it even easier to capture the data you need and stay on track.
👉 Check out this tutorial to learn how to create Custom Fields.
💰 Portfolio funding
Ideators who enter your Portfolio will eventually need to know how much funding is available. Indicate how much money is (or is not) available in the current fiscal year.
💵 Follow this tutorial to learn how to create stages and Decision Criteria
📈 Portfolio outcome and in-scope description
Show ideators in your portfolio what all Projects are aiming to help collectively achieve. Whether it is 80% less time spent on manufacturing processes, savings of $50k on labor, or 15 steps of a process removed, you can indicate what outcome is most important for for the Portfolio.
Additionally, explaining a summary of the in-scope technologies and services of the Portfolio clarifies whether ideators are in the right place with their idea.
⏩ Take a look at this tutorial to learn how to set a Portfolio outcome.
✍️ And take one minute to learn how to set a clear Portfolio description in this tutorial.
Now that your Portfolio is set up, invite your team 📤