The last post was all about managing projects with a reasonable amount of project management - not  too much and not too little and if in doubt then use less to begin with.  The rational was simple.  Moving from very little project management to a lot of project management is tough for folks - so why rush them into failure.  Why not gradually work them into successful project management - bit by bit. 

So it is with portfolio management.  You can gradually introduce Portfolio Management in the same way.  Reference the diagram below.

• Unstructured - I probably do not need to explain this one!
• Management by Exception - while there is lots of data - you just look at the problems across the projects.  If you could focus on more you probably would!  But if you have to select one thing to focus on as senior manager looking over projects, why not start with the problems so you can help.  In this scenario you are asking project managers to notify you of problems.
• Loosely Structured - there may or may not be a common approach to project management of the individual projects - but whether there is or not you are not ready to manage in a structured manner across them.  At this level you ask project managers to put whatever they have in one central location, so you can at least review whatever is available whenever you wish.  At this level you have a better oversight than at the last level.
• Semi Structured - At this level you select a few key items (e.g. status, issues, risks) that you expect each project to make available to you every week at least.  Each project maybe run differently - with differing amounts of project management, but you are getting a minimum acceptable amount of reportage from each project, so you can help manage across the projects.  You are now getting decent information from each project.
• Fully Structured - At this level you have decided to manage from and across the projects.  You have decided that the delivery of the program requires more than tracking the projects underneath.  You know you have to proactively manage tasks, issues, risks, etc. at the top program level as well as manage issues, risks, etc coming up from the program's projects.    
• Enterprise structured - you do not even want to know!