Project Portfolio Management (PPM) is the key element to give your business a competitive edge in today’s market. PPM allows business executives to streamline, manage and govern critical business initiatives. Particularly in the past couple of years PPM solutions have evolved their capabilities, enticing many organizations to re-evaluate their business processes and look for one centralized solution to connect all the disparate silos within the organization.
Business leaders are identifying their struggles to gain a clearer picture into their portfolio investments. Visibility is just the beginning; without a clear understanding of how the business is performing overall based on the metrics provided, leaders are unable to make key business decisions that could result in greater business value. This is why many business leaders are making the move to Project Portfolio Management (PPM).
Project Portfolio Management (PPM) by definition is a set of business practices that bring projects together into tight integration with other business operations synchronizing strategies, resources and executive oversight. PPM provides the structure and processes for project portfolio governance.
We have all heard the expression “do more with less.” This expression has become a required discipline in the project portfolio management (PPM) market. Economic conditions have greatly intensified the need to ensure that every initiative is performing to expectations, is bringing optimal value, and tightly aligns with business strategy to ensure competitive advantage.
Some concerns that business leaders have when evaluating PPM software are there complexities. Many organizations believe they are not mature enough to implement PPM. Harvey Levine explained in his recent PPM briefing blog series saying, “If your firm has perhaps a half-dozen projects, and has to deal with selecting and prioritizing among multiple requests for investments and resources, you will surely benefit from PPM.” “This is not an issue of maturity. It is simply a question of ‘why are you doing projects?’” A good PPM solution will offer a robust tool but should be scalable to meet the needs of the entire organization and maturity levels increasing user adoption and overall success of your PPM investment.
So how do you know if implementing a PPM system is right for you? Read through the EPM Live PPM Buyers Guide for more information.