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?
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Resource management is the top business challenge for most senior executives. Having a hierarchical approach to resource management enables any organization to share unified information across the enterprise so that they can make smarter business decisions across all levels.
Projects may be unique endeavors, but they can’t be managed in isolation. They must be integrated and assessed within the context of strategic enterprise goals — a portfolio-level perspective enabling synchronized adjustments on the way to delivery. And this requires project leaders to adjust as well.
The article addresses how one can learn from and turn perceived project management oversights or snafus into solid PM strengths going forward, if one adopts the appropriate attitude. It is wise to reflect upon one’s project performance at the completion of an assignment to concretely reinforce the positives—but to also make mental notes and take corrective actions to close any obvious competence gaps.
Some problems can’t be solved on the back of a napkin. Managing resource capacity and demand in a complex enterprise environment is a good example. A project portfolio management system can help in four critical, connected areas: visibility, prioritization, optimization and integration.