Nowadays, more than ever before, an implementation of Project Portfolio Management function is becoming a business necessity.
Question:
Nowadays, more than ever before, an implementation of Project Portfolio Management function is becoming a business necessity. But what exactly is Project Portfolio Management and why only the right approach to it can bring measurable benefits to an organization?
Introduction
Let us consider how often we encounter a situation of frequent changes in project priorities, one-sided decisions made by senior management regarding the start of a project, regardless of the availability of resources or lack of a clear connection between the implemented projects in the organization and the company's strategy. This is exactly what happens if a Project Portfolio Management does not function properly or has been implemented only partially.
For a company to successfully implement projects, thereby increasing its value, it is necessary:
- to conscious and properly select projects from among several dozen or hundreds of possible ideas,
- to maintain an appropriate balance between the number of projects carried out and the company's resources,
- and finally, to execute each project according to the best-practices and methodology chosen.
How to reconcile all this in a world that is rushing with ever-increasing speed?On what basis should we make conscious decisions about discounting some initiatives, thus making it possible to start new ones?And how to avoid fights and force trials, used in the battle for the green light to start the project?
Case study
XY's customers are looking for solutions to help them make the right development decisions to accelerate growth and optimally allocate resources.
The companies listed in table 1 below
Principles of Information Systems
ISBN: 978-0324665284
9th edition
Authors: Ralph M. Stair, George W. Reynolds