How does a company get the best return from the money it spends on projects? It’s a question that very many executives would like to know the answer to. Helping to find an answer to that question is one of the more important goals of Project Portfolio Management.
Despite their high failure rate, PMOs have the potential to deliver numerous benefits to the enterprise. Unfortunately, many PMOs fail. So what can executive leadership do to ensure success?
Like the source of the Nile, the start of portfolio management can be hard to locate. There is not yet a generally accepted initiation point for portfolio management, so let’s try and figure out where PPM might start in a perfect world.
When used effectively, PPM can increase the perception of IT’s value to the organization. So what can PMOs do to ensure that PPM processes are increasing IT’s value to the business?
If you are trying to set up project portfolio management, you will run smack into a unique workforce problem. Use these tasks in your WBS to help manage three sensitive groups that participate in projects to establish PPM.
A project portfolio can contain almost anything. How you break down the portfolio can have a great impact on the business and the projects on hand. How can a PM break down the portfolio into manageable chunks of work?