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The 5 Hazards of PPM
There are five common pitfalls that trip up organizations attempting to institutionalize portfolio-based project management — and seven critical best practices that can help identify and avoid them to achieve greater potential from your PPM efforts.
The following is an excerpt from The Best Practices Enterprise: A Guide to Achieving Sustainable World-Class Performance. The book presents a set of guiding principles for senior executives seeking to transform their organizations’ ability to compete in the changing global marketplace, and focuses on seven critical areas: results-focused communications; cross-cultural workforce inclusion; portfolio-based project management; resilient IT architecture design; uninterrupted business redesign; continuous employee improvement and program-centric strategic planning. This article is adapted from the Portfolio-Based Project Management chapter.
Portfolio-based project management is one of the newer and still evolving best practices that organizations are employing to achieve sustainable world-class performance. But there are a number of hazards to avoid when implementing portfolio-based concepts — and critical factors that are essential for enduring success. The “Big Five” hazards include:
1. The “Usual Suspect Syndrome”
The “Usual Suspect Syndrome” is a characterized by …
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