Project Ranking Charts: Bubble Chart Pro™ V.6 (Preview 2)

Posted on Jan 28, 2015 by George F Huhn
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Visualizing project ranking is going to be incredibly easy and powerful in Bubble Chart Pro Version 6. In just a few clicks, you’ll be able to create charts that show the “most-likely,” “best,” and “worst” outcomes for your projects displayed in prioritized project order from highest to lowest. Prioritizing projects is one of the biggest challenges in project portfolio management, and these new project ranking charts coupled with the SMART prioritizer are going to make it much easier for you to model your portfolio, select your projects, and present your results. You won’t have to struggle with hacked-together spreadsheet models or spend thousands of dollars on enterprise software that you can’t use. Bubble Chart Pro will solve these problems for you! In the project portfolio chart below, the Y-axis represents the project value score and the X-axis displays the rank of each project based on the “most-likely” value score for the projects. The circle in the center of each project bar represents the “most-likely” predicted outcome, and the upper and lower bars represent the “best” and “worst” predicted outcomes, respectively. The value scores are calculated automatically using the SMART prioritizer. You can also view your other attributes, such as cost, ROI, percent-probabilities, etc. in these charts just as easily, so you can see how they stack-up against each other for these attributes, too. Note that in this chart the “X’s” in the centers of some of the bubbles are optionally drawn automatically to indicate that these projects were not selected in the portfolio.
Project portfolio ranked by Value Score with

Project portfolio ranked by Value Score with “most-likely,” “best,” and “worst” calculated outcomes.

Like all the bubble charts in Bubble Chart Pro, the Project Ranking charts are highly customizable. Both the risk bars and bubbles can be toggled “On” and “Off” using a check box, and you can set the default color and width of the bars in the Preferences form. Plus, you get all the other Bubble Chart Pro features such as custom backgrounds, custom legends,”blinking” bubbles, interactive charts, etc. For example, in the project portfolio ranking chart shown below, projects are prioritized by “Profit” on the Y-axis, the bubbles and bars are displayed as a single color, and a picture of clouds has been added to the background.
Project portfolio ranked by Profit with

Project Ranking Chart for “Profits” using a single color for both center points and bars and displaying a cloud picture background.

You can enter the uncertainty values for each project individually or set it as a +/-percentage for all the projects and it will be calculated for you automatically (such as all “Cost” “best” and “worst” outcomes could be set at +/-10% of the “most-likely” value). I expect to be releasing Version 6 in the next few months, so anyone who purchases a Version 5 license today will be eligible for a free upgrade to Version 6. Note that the risk bar display features will only be available in the Bubble Chart Pro OPTIMAL editions. Click here to download your free trial today!

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