PPM is necessary to organize, schedule, and manage functions and processes of one or multiple projects. Organizations use PM tools but ignore reviewing the project portfolio management features. In this article at ProjectManager, Peter Landau discusses 3 PPM features in your PM tools that can transform your projects.
Changing Your Game with PPM Features
If you think that only large organizations need project portfolio management features to handle multiple projects, you are wrong. Any small task besides the usual work is a project as you devote employee bandwidth, infrastructure, and time to it. With improved visibility, you can understand how these side projects are affecting or improving the chief ones. Following are the project portfolio management features in PM tools that can transform your project:
PPM tools come with resource management features. Do your corporate PM tools have that feature? Managers oversee multiple projects now. They must avoid overlapping resource bandwidth to avoid dependencies and project scope creep. With PPM features, you can easily avoid duplication of work, schedule lapses, and team conflicts. You can assign part of the work to a free resource from a teammate that is swamped with work.
You can see which teammate is working on what task and how long it will take to finish it. With the task management feature, you can easily shift team members from regular tasks to a project with a tight deadline. You must manage task dependencies well as delayed task completion can prevent a resource from starting with the next assignment. Look for this PPM feature in your PM tools that give you a clear picture on task dependencies.
Managing with Real-Time Inputs:
It is a disaster waiting to happen when you do not have access to real-time project updates. Historical data is good for analysis, but you need a continuous influx of updates to respond faster. Several PM tools need managers to extract the data to an excel and manually update the document religiously. This requires additional effort. Real-time dashboards have active widgets that give you real-time visibility. Be it high-view or detailed, you can easily share live project status with your teammates or clients.
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