Project Triage is a process used to promptly analyze troubled projects from a portfolio to prioritize them, and to define the following actions based upon the current status of every project. It is usually performed at the end of accounting period, by the project manager.
Initially triage is a medical term that describes the sorting of patients to establish treatment priority. Triage (in medicine) is normally applied in a case of urgency and limited resources, such as war or disaster, so patients are sorted into one of three groups defining their further treatment: patients who need immediate treatment to survive, patients who are not in critical condition – they can wait, and patients who cannot be saved. The same analogy can be used for sorting an organization’s project portfolio:
- Group 1: projects that are going well enough, so they don’t need specific intervention;
- Group 2: projects that have no optimistic forecast for their future, so they should be stopped, reexamined and probably cancelled, while they haven’t wasted too much of valuable resources;
- Group 3: projects that are in trouble, they need urgent intervention of the management;