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Tag Archives: Project Portfolio Management

Is Your Organization Ready for Project Portfolio Management?

Most of us believe that project portfolio management (PPM) is a good thing… and it is. After all, what organization wouldn’t want to maximize their return and minimize their risk? The simple answer is they all do. So what’s the issue? Well, introducing a concept such as PPM is difficult enough even in a company that is ready to undertake it. When the company is too immature, it may be at the very least a …

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The State of Project Portfolio Management in 2016

An Overview: Why Do We Need PPM? There is no denying that project portfolio management (PPM) has gone through various stages of transformation over the last 15 years: since the early phase where there was total ambiguity about the PPM discipline, to a more recent scenario where Project Portfolio Management (PPM) is considered a catalyst for solving all project-related concerns. Today, PPM is a valuable answer for any project management office (PMO) willing to better …

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3 Dimensions of Signs That Your Project Will Fail

If a boy runs for class president and loses, it could be for a spectrum of different reasons. Maybe someone else ran on a better platform. Maybe the boy had no charisma. Maybe the boy accidentally ran for president of the wrong school. IT projects can fail for an equally diverse spectrum of reasons. In an article for CIO.com, Moira Alexander examines three potential culprits for where your project could be going wrong. Dimensions of …

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9 Problems and Solutions of Project Portfolio Management

Introduction A project portfolio is a set of projects and programs that envision the same kind of goals. The act of managing these projects to check if they are in line with the organization’s business strategy is project portfolio management. With the help of this management process, project managers and project management offices focus on forecasting and analyzing the returns per project implementation in the portfolio. They collate all the available data of ongoing and …

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Using Project Portfolio Management to Sharpen Strategy

Introduction When there are many projects run by an organization, it is significant to manage and evaluate them by grouping projects into strategic portfolios. Project portfolio management (PPM) is an excellent business practice that enables an organization to keep its projects aligned to its business objectives. PPM doesn’t get involved in project execution, but it plays a major role in project selection, benefit realization, prioritization, funding, optimum resource utilization, risk assessment, etc. This helps in …

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Portfolio Governance: Ensuring Alignment to Strategy

When you hear the word “governance,” what comes to mind? Chances are that everyone will come up with a slightly different answer, because “governance” covers such a large amount of ground. In a post for Voices on Project Management, Jen Skrabak explores the importance of governance and narrowing in on what that means to you and your organization. Setting the Terms According to Skrabak, portfolio managers “recognize that governance is perhaps the single most important …

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Initiating Projects: What to Do When Process Gets in the Way

When supporting project initiation decisions, effective process can consistently lead to extremely effective decisions. The problem for most of us is that we don’t work in an environment where there is effective process. In actual fact, the presence of solid, well-meaning and useful initiation processes is incredibly rare. While most organizations claim to have formal processes for project initiation, in a large number of instances these do not lead to better initiation decisions. The challenge …

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Top 10 Signs Your Company Needs Project Portfolio Management

The truth is that any business could benefit from project portfolio management (PPM). However, if you find your company running into the following signs, you could be in more dire need of PPM than most! Sign #1: Project and resource managers often fight over resources. Example: The head of the Finance department asks IT services to install a new accounts payable system. When approached by the project manager requesting to assign two financial analysts to …

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Constrain First or Constrain Last When Populating a Project Portfolio?

Is it better to establish constraints initially or last? In a post at his blog, Kiron Bondale elaborates on these two options to see which is better for project portfolio management. According to Bondale, “The essence of portfolio management is deriving the best possible outcome for the organization given that there are finite resources such as funding, time or capacity of skilled staff.” Realistically, there is a specific amount of resources that can be utilized, and …

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Project Portfolio Management Is a Game Changer

If you do not want to fall behind your peers, or risk your very existence in your competitive market, then you need project portfolio management (PPM). In an article for CIO.com, Bas de Baat elaborates on why PPM is the key to unlocking an organization’s full potential. Flip the Board The forces that immediately impact an organization’s ability to perform are volatility, uncertainty, complexity, and ambiguity (VUCA). These forces can be managed with the help …

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