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Project Portfolio Management

5 Things Unsuccessful Portfolio Managers Do

Knowing what not to do is often as important as knowing what to do, especially when it comes to something with consequences as costly as that of project portfolio management. On that note, how might we imagine a lousy portfolio manager? In a post for Voices on Project Management, Jen Skrabak reveals five things ineffective portfolio managers do, and where they can redirect their focus. Five Bad Behaviors Worrying about what they cannot change Giving ...

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3 Ways to Become a Strategic Project Manager

Does strategy only apply to old-time war generals or the elite CEOs of modern time? Of course not! In a post for Project Management Hacks, Bruce Harpham elaborates on why maintaining a strategic view can help any person be better equipped to handle the barrage of challenges life may throw their way. Developing Business Perspective There are three trends that are challenging leaders today in their efforts to keep the strategic view clear of debris. ...

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5 Lessons for Managing Massive IT Projects

Change can be hard on even a small project, so can you imagine the growing pains of change on a massive project? In an article for TechRepublic, Conner Forrest shares the five tips Eben Hewitt, CTO of Choice Hotels International, uncovered as the secrets to success to projects of any scale. Hewitt conducted a session in which he shared five lessons for project management in the grandiose sense: Find what is necessary. Find where the ...

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Mature Portfolio Management Practices: As Easy as Raising a Kid

All you need is time. “Maturity” is a word that is frequently brought up when discussing project, program, and portfolio management. People are too often reluctant to change though, which generates hesitation to the organizational alteration brought on by the new strategy of a good portfolio. Wanda Curlee outlines what a typical portfolio management developmental process looks like. The Toddler The same as raising a child, early years come with a certain level of immaturity ...

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3 Criteria for How to Select a Powerful PPM Solution

Project portfolio management – what is it good for? Well, for starters, it increases project, resource, and application ROI. In general, it helps your business run more smoothly and enhances delivered value to customers by prioritizing requested work. Tushar Patel, writing for PM Hut, convinces us to adopt three core principles for choosing PPM solutions and vendors. 3 PPM Solution Principles Top-down portfolio approach Focus on resource management Internal implementation & integration team Execution is ...

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Mission Impossible: The Elusive IT Alignment

Patrick Gray argues for TechRepublic that there’s no reason to believe that IT-business alignment is always a favorable scenario. And when it is, there’s no reason to expect perfection: Even with the utility and project execution capabilities of your IT organization well under control, you still may find it impossible to achieve alignment with your business peers if there’s no comprehensive business strategy. Moving Targets In the IT strategy game, alignment is actually not fixed. ...

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3 Tips to Optimize Sponsor Relations and Strategic Alignment

Alignment is everything, and it all starts with the sponsor. Communicating with sponsors is a linchpin of portfolio management according to David Wakeman in a post for Voices on Project Management. If your project matches your strategy, then it’s on to bigger and better things. Wakeman offers three tips to keep things in sync. Three Threads of Sponsor Relations Tough questions Being busy Talking through change Sometimes sponsors are less than forthcoming with answers when ...

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Strategic Methodologies that Will Improve Your IT Department’s Infrastructure

The future is never certain, but there are measures that you and your in-house team can take to safeguard tomorrow’s enterprise IT. Simon Mitchell for the Smart Data Collective offers several pointers for building a foundation of modernization, followed by a targeted approach to future infrastructure. Modernizing the IT Workforce Speaking of the future, does your team have a skill set that’s up to date with the latest developments in assessing cyber threats or with ...

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4 Ways to Manage an Overwhelming Number of IT Initiatives

Suddenly, CMOs, CFOs, COOs, and the next door neighbor all seem to want a project out of IT. This may give the company CIO or project portfolio manager a newfound sense of power, and rightfully so. But TechRepublic’s Patrick Gray has four warnings to keep the popular PPM from becoming overwhelmed. 1. On Saying “No” Gray cautions against putting up a “No Vacancy” sign to keep out new initiatives. Cloud service vendors and outside consultants ...

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4 Tips for Perfect Project Selection

In life, as in project portfolio management (PPM), there may be times when we make poor decisions that cost a lot of money and waste a lot of time. In retrospect, these misplaced management calls appear ludicrous, though they probably seemed “sensible” or “inevitable” at the time. In a post for PM Hut, Brittany Andrews explains how four essential project selection habits can change your life, from a PPM perspective at least. 4 Project Selection ...

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