Do you also think project portfolio management (PPM) is dead? If you do, then blame the conventional approach that has weakened the system.
In this article at TechTarget, Niel Nickolaisen explains that there is a dire need for prioritizing and managing PPM process. To overcome its weaknesses, the very initial step is to simplify the otherwise complex process.
The Way Forward
In a bid to upgrade the relevance of your existing PPM process, eliminate as much complexity as possible. The IT organizations need not spend hours, weeks, days, or months in data gathering to make a decision, they can prioritize the projects in their portfolio frequently. Here are some other areas that need sincere attention:
- PPM is Over Complex: If duration of project conclusion takes more time than scoring the project then you must focus on simplifying your PPM process.
- PPM is Not Well-Timed: Given the fast-emerging technologies and business cycles, prioritize projects and make constant decisions. One of the reasons your PPM process is losing its value is the need to make quick decisions, more often than allowed by the steering committee.
- PPM Involving Wrong People: The right people make effective yet timely decision. The existing PPM or steering committee may not prove efficient if they are distant from the context required for instant decisions.
- PPM Countering Decision Making Culture: If the organization takes decentralized or federated decisions, a centralized PPM process becomes the need of the hour. In case your present steering committee members are finding excuses to duck out of the meetings, shift to a more on-demand PPM process. Also, it must involve a set of more proactive decision makers.
Click on the following link to read the original article: https://searchcio.techtarget.com/tip/Project-portfolio-management-dead-Try-these-tips-for-your-PPM-process