By Harvey A. Levine
Project Portfolio Management (PPM) is going past the common venture administration method of supply a collection of confirmed company practices which may support executives, software managers, and undertaking managers convey initiatives into alignment with the options, assets, and government oversight of the final enterprise. Step by way of step, this publication indicates the best way to take a undertaking from the inception of a imaginative and prescient to the conclusion of advantages to the association. Project Portfolio Management attracts on venture administration specialist Harvey A. Levine’s years of analysis and distills the data and most sensible practices from dozens of leaders within the box to teach the best way to pick out and enforce the tasks that would garner the simplest effects. all through this significant source, Levine tackles the various demanding situations linked to PPM, together with
- Ranking worth and benefits
- Determining the scale of the portfolio pipeline
- Assessing the impression of uncertainty on tasks and portfolios
- Understanding the convenience and chance relationship
- Establishing a portfolio governance capability
- Managing the portfolio to maximise benefits
- Implementing PPM
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Extra info for Project Portfolio Management: A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits
We can also see that the funnel of proposed projects could be filled from many sources. Project requests may come in through the firm’s opportunity management program, product managers or other internal requests, or senior management (to support strategic initiatives). The challenge of PPM is to filter the project requests so that the projects that pass through the funnel into the pipeline best serve the long-term interests of the firm. 1 Selecting Projects for the Pipeline The objective is to create the mix of projects most likely to support the achievement of the organization’s goals, aligned with the preferred strategies, and within the organization’s resource (people and funding) constraints.
I see bubble charts and Web forms as too simple and shallow to support the depth needed to analyze significant undertakings. Significant undertakings require in-depth business plans with market positioning, detailed financial models, trade-off studies, and competitive analysis. This analysis takes place well before any projects are initiated and continues throughout the life cycle. The approval process is interactive and face-to-face with many PowerPoint briefings. Now, one could argue that the PPM discipline embraces all this, but this embracing is more a declaration of hoped-for ownership rather than value-added.
3. 2. Supporting Processes So far we have brought several functions together under the umbrella of PPM: projects, operations, financial, functional departments and resources, and marketing. Each of these is supported by automated information systems. A challenge under PPM is to bring these computer-based systems together. Furthermore, extended capabilities must be added to support the intended benefits of PPM and to support integration of the individual systems. 2 6/9/05 11:42 AM Page 27 WHAT IS PROJECT PORTFOLIO MANAGEMENT?