Increasing the Strategic Value of Project Portfolio Management
Today, organizations are increasingly turning to PPM to drive strategy and change.
The Key to Business-Driven PPM Success
Every organization has strategic business objectives, but those that successfully use Project and Portfolio Management (PPM) to achieve those objectives are rare. Often, PPM is applied to the tactical aspects of project execution and falls short of reaching its full business and strategic potential. According to the Project Management Institute, “only 58% of organizations fully understand the value of project management.” And those organizations that do not see project management as a strategic resource for driving change report an average of 50% more of their projects failing.
Traditional PPM defines success as on-time and on-budget project delivery at the expense of critical business outcomes, like increasing customer satisfaction or being first to market. Part of the reason can be attributed to PPM tools that do a poor job of supporting top-down, business-oriented objectives. But a “big bang” approach, as compared to an incremental method, also contributes by suppressing widespread user adoption. An all-or-nothing model also delays the achievement of value and puts the deployment at risk. As a result, the history of PPM is littered with failed implementations that never fulfilled the promise to generate business value, execute against strategy or establish competitive advantage.
In this White Paper, we will explore a Business-Driven approach to PPM, and key concepts of transforming your PMO from tactical to strategic. Be sure to download “Increasing the Strategic Value of PPM” and learn the keys to ensure your PMO activities are aligned with the strategic objectives of the business and how to maintain relevance in a dynamic economic and competitive landscape.
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