There should be regular meetings with internal representative to discuss the overall status and there should be regular meetings with external representation to discuss their part in the portfolio. When setting up meetings consider that directing a portfolio of project involves three parties:

Business Executive
The product(s) of the projects should meet a business need. The projects should give value for money. There should, therefore, be representation from the business viewpoint to ensure that these two prerequisites exist

Senior User
The user presence is needed to specify the desired outcome and ensure that the projects deliver it.
There will be an individual, group or groups for whom some or all of the following will apply:

• They will use the final product
• The product will achieve an objective for them
• They will use the end result to deliver benefits
• They will be impacted by the project outcome.

Senior Supplier
The creation of the end product will need resources with certain skills. Representation is needed from the supplier who will provide the necessary skills. The project may need to use both in-house and external supplier teams to construct the final outcome.

Meeting overview

• Project name
• Key deliverables / Objectives
• Key Stakeholders
  • Business Owner
  • Supplier (External: Organisation + Rep; Internal: Department + Rep)
  • Senior User
• Start Date
• End Date
• Project Status
  • Overall Status
    Red - Project is outside agreed tolerances or major issues exist which CAN NOT be resolved by the Project Manager alone.
    Amber – Project is in danger of exceeding agreed tolerances or major issues exist, but are being resolved by the Project Manager.
    Green – Cost and completion date within agreed tolerances, and no major issues

For the other statuses use Indicator and provide actual vs. budget/original

• • Budget Status.  (Internal AND external budget)
  • Time Status
  • Product Status
• Project manager
• Top-Issues / Risks
• Phase (Start-up, Initiation, In Progress, Closing)