A key role for portfolio management is to balance the use of resources following the need against the existing skill-set. One of the component managers told you that an important SME on his program is traveling and there is no replacement for her. This will cause a major delay in the program. What is your first step as a portfolio manager?

As a portfolio manager, the primary responsibility is to manage the portfolio as a whole, not individual components. When a significant resource issue arises in one component, the first step is to assess its ripple effect across the entire portfolio. Interdependency management is the formal process for analyzing how changes, risks, or issues in one component impact others. This analysis provides the necessary data to understand the full scope of the problem at the portfolio level before deciding on a course of action, such as reallocating resources, escalating to governance, or approving a change.

B. This is premature. Reporting should occur after the impact is understood, not before. Broadcasting an unanalyzed issue can cause unnecessary alarm.
C. This is a tactical, program-level solution. The portfolio manager should first assess the portfolio-level impact before directing specific component-level actions.
D. This abdicates the portfolio manager's responsibility to oversee interdependencies and manage portfolio-level risks. The portfolio manager must be actively involved in the analysis.

1. Project Management Institute. (2017). The Standard for Portfolio Management (4th ed.). Section 5.3, Manage Portfolio Change, p. 83. This process addresses the management of changes, including those stemming from resource issues, and their impact on the overall portfolio.

2. Project Management Institute. (2017). The Standard for Portfolio Management (4th ed.). Section 3.3.3, Portfolio Risk Management, p. 40. The portfolio manager is responsible for managing risks that affect the portfolio as a whole, which includes resource unavailability and its interdependent effects.