Portfolio management enables tracking and reporting multiple projects within a unified platform. monday.com offers various ways to establish this structure, starting with request submission and approval processes. Project templates stored within monday.com can be automatically duplicated to streamline workflows. All project phases and steps can be consolidated into a single dashboard, allowing for seamless tracking and project card creation linked directly to request screens.
Managing Project Requests with monday.com Work Forms
monday.com Work Forms can be used to collect project requests. You can directly integrate your board columns into the form and share the form’s URL to streamline data collection. This allows tracking request origins and relevant details within monday.com, facilitating an approval process.
Mandatory fields can be added to the form, ensuring that all necessary details are captured before submission. Once a form is submitted, its responses will automatically appear in your monday.com board.
Automating Notifications and Approvals
monday.com can send instant notifications when a request is submitted. Upon approval, an automated email can be sent to the next approver, notifying them that their approval is pending.
Email integrations allow seamless notifications. You can integrate a central email with your monday.com system and configure automated emails via Outlook or Gmail, ensuring efficient communication.
Using template boards, project cards can be automatically created as a result of the approval process, reducing manual effort and enhancing workflow automation.
Project Documentation with monday Workdocs
Each project card can have a dedicated scope document created and documented via monday Workdocs. Similar to project cards, documentation can be saved as templates, enabling structured scope management for all projects.
This feature allows adding headings within documents and tagging users for direct notifications, keeping teams informed in real-time.
Comprehensive Reporting with Dashboards
Dashboards enable reporting on all projects within a single view. Various widgets can be incorporated to diversify reporting options:
Numbers Widget: Track numerical data such as total budget, number of tasks, and average time spent on projects.
Battery Widget: Monitor task completion percentages across all projects.
Risk Management in Project Portfolios
Risk management is a critical component of project management, and monday.com supports risk tracking within both individual and portfolio management structures.
A dedicated board can be created to consolidate all project risks. Each risk can be linked to the relevant task, and fields such as ‘Probability’ and ‘Impact’ can be added to calculate risk scores using formula columns. A status column can indicate whether a risk has been mitigated.
Tracking Risks with Item Cards
Risk records can be easily managed using item cards without navigating to the ‘All Risks’ board. Item cards provide a structured view of relevant task details and include an ‘Updates’ section for real-time tracking.
When clicking on the designated area, a right-side panel appears, displaying risk details linked to the task at hand. This interface enhances visibility and improves risk tracking.
Customizing Item Card Views
Item card views can be further customized by adding widgets, allowing users to integrate multiple perspectives into a single screen. By selecting the ‘Linked Boards’ widget, risks stored in a separate board can be linked directly to project cards, enabling comprehensive tracking within the project workflow.
With these capabilities, monday.com provides an efficient and scalable portfolio management solution, ensuring streamlined project tracking, automation, and risk assessment.
