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Power-Packed Justification of PPM
Bob Weinstein is a journalist who covers technology, project management, the workplace and career development.
The principles of project portfolio management were clearly established more than a decade ago. There are irrefutable reasons for it. Uppermost is the scary statistic from Darien, Conn.-based technology consulting company Jupitermedia that 80 percent of corporate strategies never see the light of day--a powerful reason to take advantage of PPM.
Jupitermedia analyst Jeannette Caanis-Brewin said that there are three powerful reasons for embracing PPM. They are: 1. Realism, 2. Rationality and 3. Visibility. PPM brings realism to an organization’s planning processes; rationality in the allocation of resources, both human and financial; and visibility to project work and project people. Additionally, it requires a mature organization to pull it off.
Despite PPM’s importance, it’s still a hard sell, according to Richard Sherwood, PMP and senior vice president of operations at a Fairfax, VA-based IT consulting company. “Customers understand the basics of PPM, but they either can’t get their arms around it enough to implement it or they see it as another layer of cost. They’re just not willing to test it because they don’t understand the return on investment that they’ll get from it.”
Sherwood has customers who are running as many as a 150 different projects, yet they have no idea exactly how many are …
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