An IT Portfolio Manager is a professional who oversees and manages a collection of IT projects and programs within an organization. They are responsible for aligning IT initiatives with business goals, optimizing resource allocation, and ensuring successful project execution. In this blog post, we will describe the primary responsibilities and the most in-demand hard and soft skills for IT Portfolio Managers.

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Main Responsibilities of an IT Portfolio Manager

The following list describes the typical responsibilities of an IT Portfolio Manager:

Act with

Act with constant curiosity about processes, activities and strategy and ask good questions.

Adhere to

Adhere to Project Governance Frameworks & Reporting.

Align

Align IT projects with the organization's business objectives.

Analyze

Analyze and report on the performance and outcomes of the IT portfolio.

Assess

• Assess and integrate emerging technologies into the portfolio.

• Assess and manage risks and issues across the IT portfolio.

Build

• Build and sustains effective relationships, particularly with partners.

• Build key on-trade spirit brand experiences to recruit new customers.

• Build strong relationships and gain trust.

Communicate

• Communicate ‘across Portfolio' delivery objectives to ITGM.

• Communicate status, risks and issues in a direct and timely manner.

Conduct

• Conduct regular assessments of project risks and mitigation plans.

• Conduct regular portfolio review meetings with stakeholders.

Create

• Create an integrated view to help others see how their work impacts or is impacted by others.

• Create lean processes and templates to enable efficient product, project and portfolio delivery.

• Create the rules (master data) to ensure data quality and ensure their application.

Define

Define Project Governance Templates, including Financial Tracking.

Develop

• Develop and forecast annual operating and capital budgets.

• Develop and implement IT portfolio management strategies.

• Develop and present portfolio performance reports to senior management.

• Develop Portfolio Reporting (IT, Business Function, Financial).

• Develop, present and sell-in strategic marketing plans that will facilitate product portfolio growth.

Direct

Direct and lead improvement programs while ensuring new methods and tools are adopted by users.

Drive

Drive common understanding on value and priority for all activities.

Ensure

• Ensure alignment with Resource Utilisation & Timesheets (Projects & Transition to BAU).

• Ensure compliance with IT governance and standards.

• Ensure compliance with regulatory and security requirements.

• Ensure project documentation and knowledge transfer for future reference.

• Ensure timeliness of information and efficiency in process and workflow.

Escalate

• Escalate issues in a manner that is effective and direct.

• Escalate Portfolio challenges and issues to ITGM.

Establish

Establish standardised Portfolio & Project Reporting.

Evaluate

Evaluate the business value and ROI of IT projects.

Foster

• Foster a culture of collaboration and knowledge sharing.

• Foster collaboration and communication among project teams.

• Foster innovation and continuous improvement within the IT portfolio.

Identify

• Identify and evaluate new IT project proposals and opportunities.

• Identify and resolve conflicts or dependencies among projects.

Impact

Impact assess and communicate Project changes on / across Portfolio.

Implement

• Implement Portfolio Governance framework and processes.

• Implement project management best practices and methodologies.

• Implement project portfolio dashboards, scorecards and reports.

• Implement the processes and knowledge management IAW identified lifecycle.

Keep

Keep up-to-date with industry trends and best practices in IT portfolio management.

Lead

• Lead and facilitate strategic planning sessions for the IT portfolio.

• Lead, Manage & Motivate the Project Managers, Business Analysts & Solution Architects.

Maintain

• Maintain a comprehensive view of the IT portfolio status and health.

• Maintain confidentiality of credit and customer information at all times.

Make

Make data-driven decisions to improve the efficiency of the IT portfolio.

Manage

• Manage and optimize the allocation of IT resources and budgets.

• Manage and oversees workflow and adherence to policy for department.

• Manage a team of 4-5 Vice Presidents and below.

• Manage Projects / Change from initiation through to operational / service transition.

• Manage vendor relationships and contracts for IT projects.

Measure

Measure, review, and audit project, and product delivery.

Monitor

Monitor and track the progress of IT projects and programs.

Oversee

Oversee project portfolio financial management and cost tracking.

Perform

• Perform 1 - 2-1s, Team Meetings, Appraisals, Development.

• Perform other duties as assigned or required.

• Perform own Business Analysis (where possible).

Prioritize

Prioritize IT initiatives based on strategic goals and resource availability.

Process

Process oriented with a strong ability to develop appropriate program enhancing strategies.

Provide

• Provide guidance and support to PMO.

• Provide guidance and support to project managers and teams.

• Provide mentorship and professional development opportunities for team members.

• Provide needed investment advice that understands our business and technology context and priorities.

Represent

Represent Project / Change Delivery function at IT Management level and above.

Review

Review and approve project charters and scope documents.

Simplify

Simplify, automate and repeat until the exercise becomes painless.

Support

• Support commercial banking team and recommend credit solutions that add value to the Customer.

• Support the development of a plan to implement new IT portfolio tools.

Take

• Take appropriate action as necessary to correct deficiencies.

• Take the lead on building a strong B2B and B2C spirit portfolio strategy.

Understand

Understand business strategies, values, goal and objectives.

Work

• Work on larger, complex deals, mainly focused on Middle Market and highly specialized lending.

• Work on larger, more complex deals, mainly focused on Middle Market.

Most In-demand Hard Skills

The following list describes the most required technical skills of an IT Portfolio Manager:

1. Proficiency in IT portfolio management methodologies (e.g., PMI's PfMP).

2. Competence in project management tools and software (e.g., MS Project).

3. Skill in financial analysis and budget management.

4. Knowledge of IT governance and compliance standards.

5. Familiarity with risk management and mitigation strategies.

6. Competence in IT resource management and allocation.

7. Proficiency in data analysis and performance metrics tracking.

8. Knowledge of project portfolio reporting and dashboards.

9. Familiarity with project lifecycle methodologies (e.g., Agile, Waterfall).

10. Skill in vendor management and contract negotiation.

11. Competence in IT strategy development and alignment.

12. Knowledge of project portfolio selection and prioritization techniques.

13. Proficiency in project evaluation and business case development.

14. Skill in project risk assessment and management.

15. Competence in strategic planning and goal setting.

16. Knowledge of project portfolio governance frameworks.

17. Familiarity with project performance measurement and KPIs.

18. Proficiency in project resource forecasting and planning.

19. Skill in project portfolio performance analysis and reporting.

20. Competence in project portfolio optimization and resource leveling.

Most In-demand Soft Skills

The following list describes the most required soft skills of an IT Portfolio Manager:

1. Excellent leadership and team management abilities.

2. Strong communication and interpersonal skills.

3. Effective negotiation and conflict resolution skills.

4. Adaptability and flexibility in a dynamic IT environment.

5. Decision-making and problem-solving capabilities.

6. Collaborative and cooperative attitude towards stakeholders.

7. Time management and organizational skills.

8. Critical thinking and strategic planning abilities.

9. Emotional intelligence and empathy in team interactions.

10. Strong analytical and data-driven decision-making capabilities.

Conclusion

IT Portfolio Managers play a crucial role in driving the successful execution of IT initiatives and ensuring alignment with organizational goals. By possessing the necessary hard and soft skills, these professionals are equipped to manage complex portfolios of IT projects and programs effectively.