PPM software helps organizations gain profound insight into projects that can help in integrating and evaluating priority projects while allocating the right resources for it.
In this article at Tech Target, Bob Violino explains the potential benefits of PPM tools to evaluate projects based on data and metrics.
Organizations can use PPM tools to determine the potential value of running and upcoming projects while demonstrating the value of projects to their strategic goals. PPM extends visibility to virtually every aspect of projects, be it budget management, risks, schedules, resources and status quo. Here is what PPM systems can actually do to save project failure:
- Analyze Project Worth: PPM provides visibility into virtually every aspect of projects. The software enables organizations to evaluate projects based on data and metrics to determine their worth in the market. PPM tools provide oversight to monitor and connect project interdependencies.
- Prioritize Resources on Present & Future Needs: PPM tools can help the organizations evaluate projects in the context of shifting company needs and resources. The shift in priority and projections for a particular software application may encourage the project managers to shift more resources towards the ongoing endeavor.
- Project in Budget & Time: PPM tools help in tracking key project facets like expenses, resources, and schedules. Some even feature pipeline management that helps in determining the right execution of projects in a portfolio within a specified time and within available resources.
- Eliminate Presumption: With PPM tools, managers no longer need to guess if a project is worth pursuing or not. They also do not need unwanted guessing for project prioritization with constrained resources.
Click on the following link to read the original article: https://searchcio.techtarget.com/feature/Benefits-of-PPM-software-include-reduced-failure-rates