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. Project and portfolio management software has evolved now offering greater functionality and enhanced 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.
There are many factors to consider when assessing your PPM needs across your organization. It occurs more often than not that financial constraints or time to market requirements outweigh the critical need in the project and portfolio management software selection process. Once a system is approved, don’t get bogged down with the “we need it now mentality” and rush the process. Avoid losing sight of the reason why a tool was needed in the first place.
Last week we gave a webinar presentation on overcoming PPM deployment challenges. To view this on-demand webinar video click the icon below.
EPM Live has been involved in hundreds of PPM deployments over the years and we definitely see a trend in the types of challenges organizations are faced with. Here are the top three common challenges we see organizations face when implementing a PPM tool:
#1 – One Size Does Not Fit All
One solution rarely fits the needs of all users, yet, an enterprise system is just that, a tool to be shared and used by the entire organization. The problem is that most teams in an organization work differently. They have different processes, they follow different leaders, and they have different areas of focus which results in different work. A PPM system must allow you to define your enterprise needs and then customize the tool to meet the needs of individual teams or departments. Usability equals success in an enterprise system; the data outputs are only as good as the information going into the tool.
# 2 – Work is Everywhere
A PPM system rarely accommodates all other work that affects project resources. For example, where in my PPM system can I find my service request ticket that is affecting my ability to complete my project tasks on time? There are several components of PPM that are essential and the most important one is resource management. Your PPM system must have the ability to manage and capture all work associated with all resources so that you can properly manage your organization’s most valuable assets… your resources.
#3 – Incomplete Data, No Visibility
PPM systems seldom represent a complete picture, making visibility into all investments almost impossible. Projects are everywhere, not just in your PMO or IT departments. You buy into project management because it proves to be valuable. It is worth investing dollars to hire project managers to manage the large projects; it’s almost like buying insurance. You need to protect your original investment of saying “yes” let’s execute on it! But an organization’s portfolio will never be complete without including all the small projects that keep the business running.
Projects are everywhere and so are the resources running those initiatives. A true PPM system must be able to accommodate all projects large and small, which means project management maturity will vary. A PPM system, in order to accomplish a complete portfolio, must provide tools for both complex schedule management as well as lightweight schedule management so anyone at any maturity level could create the project schedule. It is not realistic to believe that every project in your organization will be run by a true seasoned and experienced project manager. It is essential to consider all aspects of your work portfolio, accommodate all projects and offer a tool for every user in your organization.
To learn more about the PPM Maturity Model in this blog post, “Implementing Enterprise PPM for a Multi-maturity organization.” See how Jack in the Box was able to improve PPM maturity leveraging EPM Live in this video testimonial.