It’s overly simplistic to suggest that one particular type of PMO can be responsible for ensuring the right projects are done, while another type focuses on ensuring that those projects are done in the right way. Project environments are complex, and the PMOs that are responsible for managing those environments need to understand that.
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How well do we match our project portfolio ambitions with our ability to deliver? There are some considerations that a project organization should be assessing as it builds its annual budget and business plan.
One of the most complex functions large PMOs manage is the prioritization of the organization’s portfolio of projects. Thankfully, artificial intelligence capabilities offer ways to create scenarios that provide helpful options.
Question: We’re a company that was a startup, and we’ve had great success. One of the founders ask me to work with a team to decide if we needed to set up a portfolio management part of the business. I’m a project manager, but I have no experience in this—and to be completely honest, I’m not even sure exactly what it is. Is there value to our adding this layer to a relatively new organization?
Here are nine strategies that can overcome PPM stagnation and enable the dynamic, agile operations your organization needs to be more competitive—and your project managers need to avoid losing their minds.
While plans constantly change, the act of planning is still a strategic use of time — for the many decisions and discussions that it helps to facilitate among stakeholders, and for establishing a baseline that can be improved upon along the way.
This paper aims to share a strategic perspective on capital allocation and how leveraging this capability, in collaboration with the corporate transformation office or project management office and corporate finance, portfolio managers can successfully steer organizations in pursuing value creation and maximizing shareholder value.
Not appreciating the differences between PPM and SPM—and falling victim to strategic portfolio management myths—will decrease your odds of success. Let’s clear up some of these common misconceptions (and address those pesky watermelons...).
We have to look at more than just the traditional project portfolio when it comes to advancing a business—and that means PMOs also have to look beyond projects. But what does that actually look like? Two specific portfolios are becoming more critical to organizational success.
As organizations strive to respond faster to ever-changing business conditions, their strategic decision-making windows get tighter. But they also need to remain open to a range of perspectives and input. How does that work?