What if you could make a New Year’s resolution that you have seen over the last year will greatly benefit you for this year? Well, that resolution may just be improved project portfolio management. An article on Project Assistants.com stresses that, if you want to make your projects more successful, the first thing you should be concerned with is your PPM:
The main reason that the project portfolio approach has become more popular over the last half decade is because of the economy. The global economic crisis of 2007 has effected a New Normal in the business world, characterized by an intolerance for failure that doesn’t allow for do-over opportunities in the marketplace. Optimal realization of portfolio ROI was always a nice idea that a company could do to improve their business processes, but now it’s a must just to simply stay alive.
Although PPM is crucial to the success of your organization, adaptability is equally important. The article stresses that, as we move into 2013, a constantly changing business climate is to be expected. Having solid PPM skills coupled with the ability to adapt to new investments, lessons, and technologies is the most direct path to success. Knowledge of changing technologies is also quite important when reviewing your PPM practices. Being prepared for changes in technology, even when they may not occur, is the best method of adaptability. Furthermore, as the article notes, being ready for technological shifts will save your organization capital which can then be used to improve and foster other areas of your business. Therefore, PPM improvements are the perfect New Year’s resolution for your organization. It will most likely work out better than that resolution to lose 10lbs.