Portfolio Management

Managing a range of projects, clients, and resources can become overwhelming without the right tools. Enter InfoLobby—a flexible and powerful platform designed to help you streamline your portfolio management processes. Let's explore how you can leverage InfoLobby to manage the main steps involved in portfolio management effectively.

What is InfoLobby?

InfoLobby is a project management and collaboration software that allows businesses to organize team communication, project workflows, and data in one place. Its customizable nature makes it an excellent fit for small businesses looking to manage their portfolios with precision and efficiency.

Main Steps in Portfolio Management

1. Project Initiation
2. Planning and Prioritization
3. Execution and Monitoring
4. Review and Evaluation

Let's dive into how InfoLobby can facilitate each of these steps.

1. Project Initiation

Goal: Identify and start new projects that align with business objectives.

How InfoLobby Helps:

• Custom Workspaces: Create dedicated workspaces for each project where all relevant information is stored.
• Templates: Create templates to standardize the project initiation process. Include fields for project goals, timelines, budgets, and key stakeholders.
• Task Assignments: Assign tasks to team members, ensuring everyone knows their responsibilities from the get-go.

Example: Create a "Project Proposal" table in InfoLobby where team members can submit new project ideas. Each proposal can then be reviewed and approved within the same workspace.

2. Planning and Prioritization

Goal: Develop detailed plans for each project and prioritize them based on business impact and resource availability.

How InfoLobby Helps:

• Project Planning Apps: Build tables to track project plans, timelines, and dependencies. Use calendar views to visualize project schedules.
• Prioritization Tools: Create a scoring system within InfoLobby to evaluate and prioritize projects based on criteria like ROI, strategic alignment, and resource requirements.
• Resource Management: Utilize InfoLobby’s integration capabilities to connect with tools like Harvest for time tracking and resource allocation.

Example: Set up a "Project Planning" table where you can detail each project's scope, schedule, budget, and risk assessments. Use InfoLobby's "Select" fields to prioritize projects based on their strategic importance.

3. Execution and Monitoring

Goal: Implement projects efficiently and monitor their progress against plans.

How InfoLobby Helps:

• Task Management: Break down projects into tasks and subtasks, assign them to team members, and set deadlines. Use InfoLobby’s task management features to keep track of progress.
• Real-Time Collaboration: Enhance communication with in-context comments, and file sharing. Keep all project-related discussions and documents in one place.
• Dashboards and Reporting: Create custom dashboards to monitor key performance indicators (KPIs) and project health. Generate reports to track progress and identify any deviations from the plan.

Example: Use InfoLobby's task management features to assign and track tasks for each project phase. Set up a dashboard to display real-time updates on project status, budget utilization, and key milestones.

4. Review and Evaluation

Goal: Assess completed projects to learn from successes and failures, and apply these lessons to future projects.

How InfoLobby Helps:

• Post-Project Reviews: Create a "Project Review" app to capture feedback and lessons learned from each project. Include fields for success metrics, challenges faced, and recommendations for future projects.
• Data Analysis: Use InfoLobby’s reporting capabilities to analyze project data and identify trends or areas for improvement.
• Continuous Improvement: Implement a feedback loop where insights from completed projects inform the planning and execution of new projects.

Example: After project completion, use a "Project Review" table to collect team feedback and analyze project performance. Summarize findings in a report that can be referenced for future project planning.

Conclusion

InfoLobby is a versatile tool that can significantly enhance your small business's portfolio management capabilities. By leveraging its customizable features for project initiation, planning, execution, and review, you can ensure that your projects are aligned with business goals, efficiently executed, and continuously improved.