First, let’s call it what it really is: Work and Resource Portfolio Management, not just project portfolio management. That's the only way to see the true value of an integrated approach to managing the entire workload and workforce. Then, we can focus on specific productivity improvements, from decision-making transparency to responsiveness to change.
I rue the day that someone (more likely a committee, no doubt) decided our airspace should be called Project Portfolio Management. I want to make a case for calling it WRPM — Work and Resource Portfolio Management. I think by now that most everyone has figured out that all of the work in the world is not comprised wholly and exclusively of projects. There are, in fact, other different kinds of work. Often times the costs of this other work far overshadows the money and effort required for the project portfolio.
Furthermore, you don't get very far doing work management without understanding and managing the motive force needed to get it done. Otherwise, you are basically daydreaming; "Gee, what I could do if only I won the Power Mega Million Lottery" sounds suspiciously like, "Gosh, I could meet that aggressive schedule if only I had some staff to actually do the work."
I am starting out with this basic premise as an important level set for talking about the true value of having an