As product development organizations with constrained resources aim to make the most of their product pipelines, they are turning to project portfolio management. And PPM vendors are taking note, adding specialized capabilities to their offerings.
It is no longer enough to proactively forecast, budget and staff projects. The rapid pace of change requires next-generation strategies that use predictive analysis. And new predictive technologies are transforming project portfolio management, providing the insight to manage forward, rather than looking through the rearview mirror.
Big or small, upstart or long established, many companies are finding that the value of their PPM efforts is tied to the maturity of their processes and practices. And even small advances in PPM capability can spark great leaps forward.
IT application supervisors take note! If you're responsible for maintaining a portfolio of applications where different resources work on multiple projects, the budget tracking technique outlined here may be helpful in managing costs--moreso than those spreadsheets. Give it a shot and open the door to potential benefits.
While the concepts of strategy, portfolio and project are often discussed, the relationship of strategy to project and of portfolio to either concept seems to play out differently in reality than it does on paper.
If the primary reasons for portfolio management start with resource constraints, you’re probably wondering how we got to strategic alignment. And that, dear reader, would be an excellent question...
Is benefits realization a significant challenge in your organization? Perhaps it’s time to question your approach, to acknowledge that the process might be fundamentally flawed and results in a false sense of understanding what’s happening.
Building a believable business case takes time and work. Preparing a full business case for a marginal project is wasteful and annoying. In this article, John Finneran explains how to check whether a full business case is worthwhile.
For many organizations, strategic planning and the associated project selection is an exercise in frustration. How can we improve things without reinventing the process?