Project Portfolio Management
Project portfolio management:-
A competitive advantage for organizations now is doing the right projects and making sure that there are resources to complete those projects. Project Portfolio Management (PPM) is a set of business practices and a process that allows organizations to manage projects as a strategic portfolio, ensuring the alignment of programs and projects with organizational objectives. Executives need to regularly review entire portfolios and programs, determine why projects are or are not necessary, see where money is spent, prioritize projects, stage the start of new projects, spread resources appropriately and keep tabs on progress.
Portfolio managers have a very tedious task of analyzing every aspect of the project like, cost, resources, time, etc. the managers study all these aspects in detail and then help the company to make wise investments. Strong analytical and financial skills are the trademark of a good portfolio manager.
The discipline of project management applies constantly evolving principles, concepts, tools and techniques to improve project performance and organizational effectiveness. When properly aligned with company goals and objectives, project management adds value by improving your ability to consistently deliver the right products - on time and within budget - while increasing client satisfaction and employee retention.
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Why PPM:-
1. Do the right work
2. Do the right work faster
3. Use the right resources
4. Do the work right
5. Identify problems and solve it easily.
The above stated points are the most essential elements that suggest and support the use of project management portfolio. These points help us understand why there is a need for a particular portfolio in the project. The main objective here is to increase the efficiency, get the optimum results and at the same time develop techniques and methods that save time, reduce cost and maximize profits.
The goals of PPM :-
1.
A competitive advantage for organizations now is doing the right projects and making sure that there are resources to complete those projects. Project Portfolio Management (PPM) is a set of business practices and a process that allows organizations to manage projects as a strategic portfolio, ensuring the alignment of programs and projects with organizational objectives. Executives need to regularly review entire portfolios and programs, determine why projects are or are not necessary, see where money is spent, prioritize projects, stage the start of new projects, spread resources appropriately and keep tabs on progress.
Portfolio managers have a very tedious task of analyzing every aspect of the project like, cost, resources, time, etc. the managers study all these aspects in detail and then help the company to make wise investments. Strong analytical and financial skills are the trademark of a good portfolio manager.
The discipline of project management applies constantly evolving principles, concepts, tools and techniques to improve project performance and organizational effectiveness. When properly aligned with company goals and objectives, project management adds value by improving your ability to consistently deliver the right products - on time and within budget - while increasing client satisfaction and employee retention.
[pic]
Why PPM:-
1. Do the right work
2. Do the right work faster
3. Use the right resources
4. Do the work right
5. Identify problems and solve it easily.
The above stated points are the most essential elements that suggest and support the use of project management portfolio. These points help us understand why there is a need for a particular portfolio in the project. The main objective here is to increase the efficiency, get the optimum results and at the same time develop techniques and methods that save time, reduce cost and maximize profits.
The goals of PPM :-
1.