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Top 3 Axes of Project and Portfolio Management Value

August 23, 2010 | Author: PM Hut | Filed under: Project Portfolio Management

Top 3 Axes of Project and Portfolio Management Value
By Pradeep Bhanot

Project Portfolio Management systems provide value to organizations in many ways. These include improved staff utilization, improved financial management and better demand management. But for me these are not the most compelling ones.

The top three for me are:

1. Greater visibility. Having a single system of record for all projects is the basis for managing all your projects as a portfolio and a foundation for financial transparency.

2. Greater efficiency. Ties nicely into the whole notion of reducing wasted effort, which is a major principal of a Lean IT approach. PPM improves project management, by enabling projects to get started faster, by helping with the critical task of resourcing the project with the right skills and executed better.

3. Portfolio optimization. Once you can see all your projects and are running them well the really strategic role of PPM is to help an organization select and execute the right projects or programmes. The portfolio optimization process is where decision are made that cancel projects that add little relative value, defer investments in longer term projects, all of which allows you to execute additional strategic projects that help customers and significantly improve revenues.

Figure 1: Portfolio Optimzation

Pradeep Bhanot Markets CA Clarity PPM in Europe. He has worked at BT, the UK Department of Energy, ECGD, Watson Wyatt, Oracle, Serena Software and CA Inc. He’s an ITIL v3 Foundation certified, a PMI member, and has a Computer Science Degree from Greenwich University. Pradeep’s blog can be found at http://community.ca.com/blogs/ppm/

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