In the growing market competition, to deal with fast-changing market trends, the organizations end up wasting money and time to finish the projects in committed deadline. This way business remains non-profitable.
In this article at Arras People, Chris Taylor explains that undefined framework, tight monitoring of projects, or less effectively used software may result in ineffective delivery of projects.
Notion of Improvement
Often, growing organizations reach a point when they struggle to deliver advanced capabilities to accomplish projects. By measuring its present portfolio, program and project management (P3M) capabilities, an organization may envision and improve its plans to consistently deliver successful projects. To do so, deliberately develop these four crucial key areas:
- Process: Pick the most suitable way to select programs and projects. Also, ensure that project deliverables have been well-defined and have a bespoke framework of processes and templates that are fit-for-purpose and easy to use.
- People: The people involved in shortlisting and delivering the portfolios of programs and projects must have strong capabilities. Each individual must clearly know his/her roles and must have been trained properly.
- Organization: Ensure to have an organization structure on a place that enables effective governance, assurance and support for portfolios, programs, and projects.
- Technology: Carefully select robust software and tools for the effective application of the organization’s portfolio, program and project management (P3M) framework.
The author believes that the absence of any one of the above-mentioned keys may lead to a constant struggle for the organization. It will be difficult to even gain the benefits from the investment they have made in portfolios, programs, and projects. Click on the following link to read the original article: https://www.arraspeople.co.uk/camel-blog/project-management-career/four-keys-successful-portfolio-programme-project-management-p3m-performance/