Portfolio Management 101: Moving from ‘Just’ Project Management to True PPM
Moving from ‘Just’ Project Management to True PPM
A lot of organizations claim that they carry out project & portfolio management (PPM), but when one drills down in a little more detail it frequently turns out that they are really only carrying out consolidated project management. Of course it’s important to understand how all of your project resources are allocated, gain a consolidated view of all of the initiatives that are underway, and a have single place to track risks and issues. But true portfolio management is a much more strategic approach that requires an organization to consider two major categories that are well beyond the scope of project management:
- End to end management – portfolio management has to start with idea generation and business case development, move through portfolio modeling and approval and into the project management domain. It then needs to continue through benefits realization, the confirmation of business objective achievement and the undertaking of corrective actions.
- Strategic management – portfolio management needs to be focused on the ability of the organization to achieve its goals and objectives, even if that compromises the ability of individual projects to successfully complete their deliverables.
In this white paper we are going to look at these elements in more detail and explore what organizations need to do to implement ‘true PPM 101’. Before we go too far down that path though, let’s establish exactly what a portfolio is!
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