| |
Why Implement Project Portfolio Management
Project Portfolio Management enables the business to align resources and project investments with corporate objectives. PPM provides a structured environment for deciding which projects, programmes and initiatives to fund, to sustain and to eliminate. PPM is about optimising the investment in change initiatives and subordinating programme and project approval to business strategy rather than departmental and business unit objectives. PPM ensures you are running the right programmes and brings discipline to project muddle and resource contention..
For business leaders and executives this means that:
- Projects should contribute to a positive cash flow for the enterprise;
- Projects must effectively utilise the organisation’s resources;
- Projects must help position the organisation for future success and growth.
Click Here to Download Master Class Agenda |
| |
| |
| |
|
| |
PPM is the management of a portfolio so as to maximise the contribution of projects to the overall welfare and success of the enterprise. The PPM process enables business users to organise a series of projects into integrated portfolios. As part of this process the business is able to produce reports based on the various project objectives, costs, resources and risks. This will assist the business in making key financial and business decisions. PPM is a dynamic process whereby projects are regularly evaluated, prioritized and selected based on the goal of obtaining the greatest possible value from the organisations limited resources.
- Meet financial and business governance milestone costs effectively;
- Bring new products to market in line with business strategy only when resource capability and budget restrictions allow;
- Implement outsourcing and off shoring initiatives with real time visibility of operational time, cost and resource information across business units;
- Track and optimise lights-on-activity to aid business growth and efficiency drives;
- Understand resource utilisation and profitability allowing better alignment of resources, more dynamic workforce management and reductions in contractor costs;
- Reduce reporting timescales at executive and board level allowing faster reactions to market and competitive changes and more accurate decision making;
- Get early warning of any potential problems meeting programme and project milestones;
- Make it easy for different stakeholders to access project information relevant to their strategic interests;
- Calculate the financial impact of cancelling a poor performing project;
- Switch priorities based on organisational needs and redeploy staff quickly;
- Have a standard methodology for starting and managing projects and making them accountable to the business;
- Reduce programme and project overruns and costs;
- Reduce programme and project duplication and effort;
- Track costs, revenues and margins for each project in the portfolio;
- Learn from past projects;
- Account for cost of time spent on projects;
- Reduce the risk of losing money on projects;
- Identify risks at the outset and their impact on the business;
- Understand how changes to one project will affect other projects;
- Identify projects that are not contributing to strategic objectives.
|
|
|
