By
- Aaliya Yousaf.
Blog
The workplace has changed in the past year, but one thing has stayed the same: employees still spend 60% of their time working about work. These activities, such as searching for information or chasing status updates, take time away from meaningful and strategic work that moves your organization forward, even withproject manager software.
Asana recently introduced Portfolio to help teams reduce workloads and manage their most important strategic projects through portfolio management software for projects. Portfolios are the mission control center for your organization's most important projects and their status. With Portfolio in Asana, you can track all the information you need to run your business - from strategy to execution.
Each company has its own organizational structure and information distribution style. To help teams better capture their organizational structure in Asana, you can now add projects and portfolios to a portfolio. Monitor work at the correct level at all times.
By adding a portfolio to a portfolio, you can better organize and navigate work in Asana. With the flexibility to manage projects and portfolios side-by-side, ensure every stakeholder is seeing the job at the right level, without getting lost in unnecessary details.
They increase cross-functional visibility at different levels of the organization and make it easier for team members to monitor and communicate their work. For example, members working at different levels of your organization can use projects and portfolios:
Individual workers who work primarily on projects can gain more context about their work in portfolio management services.
Team leads and project managers can coordinate work between projects within a portfolio. At the portfolio level, they can view the status of each project and click on a project for more information if needed.
Department heads can create a portfolio containing any related team portfolio or projects. They can view the status of various departmental projects from a bird's eye view and see if the department is on track, at risk, or off track in terms of its key objectives.
Executive leaders can consolidate the portfolio of all their direct reports in one place to ensure that work is moving in the right direction across the organization.
Tip:As with adding tasks to multiple projects, add portfolios to multiple portfolios to minimize redundant work.
With the ability to add portfolios to portfolios, you can create an easily navigable and customizable overview of work. Centralize information at the right level so that stakeholders can see the work at a level that is meaningful to them.
If you work in a matrixed department, you need to ensure that different leads can see the progress of the work according to their vertical or functional level. But instead of duplicating work, you can now place relevant work in the portfolio that's most appropriate for you and your leads - without affecting anyone else's workflow.
For example,you've created a portfolio for a new customer marketing brand campaign. The project's work must be tracked in the Customer Marketing Portfolio, which is managed by the Customer Success Department. But you also want to add that work to the brand team's portfolio so they can keep an eye on it, too. Instead of duplicating work, you can integrate the customer marketing brand campaign portfolio into both the customer marketing portfolio and the brand team portfolio. In this way, the leads of these two respective departments can keep track of the work without affecting each other's organizational systems.
If you work in a more traditional or hierarchical organization, you can use portfolios to create as many layers of work as you wish. That way, team members can go into more detail or zoom out to understand the bigger picture.
For example,imagine you are the head of revenue marketing for your organization's sales department. You want to know if your sales teams are on the right track. Each sales team lead (for example, SMB, mid-market, and enterprise team leads) tracks their team's work in their portfolio. Instead of looking at these portfolios every day or every week, you can now create a "master" sales portfolio that includes each team's portfolio. If something is off track, go into that specific division's portfolio to learn more and help get them back on track.
If your organization has little or no management level, you can use portfolios to organize separate work streams into one large portfolio of projects across the organization. Remember that a portfolio can contain hundreds of projects, so organize them as you like.
For example,you are the CEO of a startup. Apart from the workgroups and cross-functional projects in your organization, your organization is flat. But as a CEO, you still need to see what everyone else is doing. By adding each project or portfolio to a central portfolio, you'll have a central source for all of your organization's key tasks.
As with projects, you can make portfolio permissions private. Centralize your active projects and the portfolios you see most often in one place, collect the information you want to refer to often, or create portfolios for specific projects to share with a few people.
No matter how you use Asana, with the portfolio management tool, you can monitor multiple projects and quickly report on the health of your organization. By creating multiple layers at different levels of the organization, you can see work at different levels, focus on what needs attention, and eliminate unnecessary details that distract you from the big picture. Remove from
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