Definitions
Status | Definition |
|---|---|
Active | Initiatives are categorized as being in an Active Stage once the project is technically completed. On transition into the Active stage, any created assets are identified and linked to the project. |
Budget Requested | An initiative has been formally submitted to request budget allocation. |
Budgeted | At this stage, the initiative has been reviewed and allocated a specific budget after the portfolio has been approved and completed. |
Capex Requested | This status marks the formal submission of the business case for capex approval. |
Completion Requested | The initiative is updated with this status when the project is capitalized to the final asset and has been submitted for completion. |
Deleted | The initiative has been discontinued, and no further work will be carried out on it. It can be reinstated by the admin if needed. |
Draft | The initiative has been started and is in the early stages of creation. At this point, some information and details have been entered, but the initiative is not yet ready for submission to the next person in the workflow. The focus is on gathering initial inputs, and while the information is still in development, it needs to be saved for future completion and refinement. |
In progress | When an initiative has the capex approved and the business case transitions to an approved project, this status is used. |
Manager Review | This status reflects the initiative is with the manager for review. |
Manager Completion Review | This status update represents the manager's review of an initiative during its Project Stage and that has been sent for completion. |
Manager Supplement Review | This status update represents the manager's review of an initiative during its Project Stage and that has been sent for supplement approval. |
New | This stage marks the initiation of an initiative that has just been approved to move forward in its lifecycle, such as from Idea to Proposal or a Proposal to a Business Case. |
Portfolio Mgr. Review | At this stage, a portfolio manager assesses the initiative within the context of the broader project portfolio. The review focuses on how the initiative aligns with the company’s strategic goals, its financial viability, and its impact on the overall portfolio’s balance and performance |
Portfolio Mgr. Completion Review | This status update represents the Portfolio Mgr. review for an initiative during it Project Stage and that has been sent for completion. |
Returned | This status indicates that the initiative was sent back for revisions or additional information after a review. |
Sponsor Review | A stage where the sponsor reviews the initiative, and if the initiative is assessed if it is ready to progress to the next stage. |
Sponsor Completion Review | This status update represents the Sponsor review for an initiative during it Project Stage and that has been sent for completion. |
Sponsor Supplement Review | This status update represents the Sponsor review for an initiative during it Project Stage and that has been sent for supplement approval. |
Supplement Requested | This status marks the formal submission of a project for supplemental capex. |
Rejected | The initiative is returned to the responsible person (e.g., Manager or Sponsor) at any given stage of the workflow because the person reviewing the initiative (e.g., during Manager or Sponsor Review) was not satisfied with its details, progress, or justification. |
Terminated | This is when an initiative in the project stage been decided that it's no longer needed/required its deletion is assigned as Terminated Status. |
Portfolio Status:
Status | Definition |
|---|---|
Pending Portfolio Approval | This status reflects that the portfolio request for the initiative’s area has been submitted and is awaiting approval by the capex controller. |
Pending Portfolio Completion | This status reflects that the portfolio request for the initiative’s area has been approved and is now awaiting portfolio completion by the capex controller. Portfolio completion will occur once all areas have been approved. |
Note: Once an initiative is included in an active portfolio request (pending portfolio approval or completion) an additional “Portfolio Status” is assigned. In this status, changes to the initiative are blocked, and they cannot be changed or actioned further until the Portfolio Request is finalised.
Color Coding for Status:
Color Code | Status | Rationale |
|---|---|---|
Green |
| The initiatives are currently in a steady state and are not in anyone's worklist |
Red |
| The initiatives are currently in an error state, and they do not require attention. They are not assigned to anyone's worklist. |
Blue |
| The initiatives are currently active state in the workflow and are assigned to a user's worklist. |
Orange |
| The initiatives are currently in an alert state and are not assigned to anyone's worklist. However, the initiatives are still subject to action. |
Color Coding in Portfolio Planning:
The Budget Requested amount will be displayed in Green that means that budget requested (from the selected initiatives) is within the Budget limit for the area selected. If it is in red that means that it is exceeding the budget capacity.
Color Coding of the Status Bar:
Color | Meaning |
|---|---|
Red | Exceeded Budget Limit The red color indicates that the selected amount has surpassed the available budget. |
Yellow | Remaining Budget Capacity The yellow color shows the remaining budget capacity. This represents the portion of the budget that is still available for selection. |
Green | Within Budget Capacity The green color signifies that the selected amount is within the available budget, indicating that the current selection is within the budget limits. |