Take the Long View
Janis is an award-winning journalist and editor who has covered many industries beyond project management, including health care, financial services, higher education and retail sales.
Shortsightedness can shortchange your organization on the benefits of project portfolio management. A top PPM analyst shares best practices on how to embrace the big picture and how evolving PPM tools can help.
Despite years of intense focus on project portfolio management in the marketplace, its benefits often go unrealized by companies undertaking PPM efforts, according to Margo Visitacion, vice president and principal analyst at Forrester Research Inc. She blames companies’ lack of long-term planning and propensity for narrow implementations for the missed opportunity.
“Many organizations invest reactively in PPM,” Visitacion says. “They are looking to solve a specific problem or set of problems and implement with those problems in mind instead of looking at the bigger picture. PPM, when implemented in the appropriate way, can give you a very transparent view of the work that’s going on in the whole organization, not just project work. It helps you consolidate demand and offers insight into labor consumption, and for a lot of organizations, that is what they struggle with — balancing capacity and demand, because demand never ends.”
In two new research reports, “Successful PPM Implementations Require Commitment” and “What’s Ahead for PPM?”, Visitacion offers best practices on how to broaden …
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