Project Management

Uncharted Waters

Kathleen O'Connor
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As organizations across industries and sectors confront historical economic pressures, what becomes of their ongoing and planned projects? Cost and risk containment are the top priorities, of course, but amid all the doom and gloom, could this be project portfolio management’s time to shine?

Maximizing return on investment and justifying expenditures quarter to quarter, or even month to month, is nothing new for CIOs in corporate America.
 
But with the global economic downturn lingering like a bad flu and Wall Street still punch drunk from navigating the worst credit crisis since the Great Depression, chief information officers are now being asked to weigh every penny on an even tighter schedule.
 
Now, says Mykolas Rambus, CIO at Forbes Media, "I'd go as far to say it's week to week. It's absolutely having an effect."
 
So what does that mean for one of project management's brightest spots in recent years — Project Portfolio Management?
 
The discipline of PPM has had a pretty remarkable run so far, with Forrester Research forecasting the "project-based solutions" market, which includes PPM and asset management and product development software, to grow to $6.5 billion by 2010. For many companies, the promise of PPM software to bring more efficiency and transparency…

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