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5 Fundamentals of Project Portfolio Management

A lot of pressure comes with being a project portfolio manager. You are trying to align new tactics and maybe new technologies across your organization’s projects successfully, while ensuring resources exist to fill the precise roles required. In an article written for Growth Freaks, Amanda Knowles offers five tips on the fundamentals of project portfolio management: Collect all project ideas. Allocate resources. Train project managers. Provide every project manage with a starting kit. Manage the ...

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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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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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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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Four Common Project Portfolio Dashboard Mistakes

Why are portfolio dashboards necessary? Portfolio dashboards track the metrics, as well as the progress, within an organization. The dashboards help to keep the big picture alive and vivid so that the organization can stay on target. In a post for PM Hut, Kristyn Medeiros elaborates on some mistakes to avoid when it comes to using project portfolio dashboards. There are four common ones to keep in mind: The information may not be useful. The ...

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