After agreeing what a project is and what it is not, I will define what project portfolio management (PPM) is through a business angle. The example I will share is from a large European bank for which I worked before, during and after the financial crisis in 2008. The bank had been severely hit by the crisis, and was trying to find survive. We had more than 150 large projects (above 500.000 euro), but no one had a clear view of the status and the benefits that should be derived from those investments. We had implemented one of the Gartner top quadrant PPM tools years ago, but the lack of discipline to input and to use it made the tool a very expensive and fruitless asset.
Capacity, and not strategy, was determining the launch of projects, meaning that the project was launched if the experts where available, if not, the project was dismissed. By then top management had realized that we had to improve the way we were selecting, prioritizing and executing our projects.
Also read : http://www.rapidsofttechnologies.com/blog/index.php/business-investing-much-mobile-apps/
Most executives do not have a good understanding of PPM. So the first challenge was to help top management understand PPM, they tend to think about it in terms of financial portfolio management, how to deal with stocks, shares, investments, very few of them related PPM to their projects and change initiatives. Therefore, I decided to develop a short guide to explain senior management the benefits of PPM using business terms.
Read more : http://goo.gl/b17ZIX
Capacity, and not strategy, was determining the launch of projects, meaning that the project was launched if the experts where available, if not, the project was dismissed. By then top management had realized that we had to improve the way we were selecting, prioritizing and executing our projects.
Also read : http://www.rapidsofttechnologies.com/blog/index.php/business-investing-much-mobile-apps/
Most executives do not have a good understanding of PPM. So the first challenge was to help top management understand PPM, they tend to think about it in terms of financial portfolio management, how to deal with stocks, shares, investments, very few of them related PPM to their projects and change initiatives. Therefore, I decided to develop a short guide to explain senior management the benefits of PPM using business terms.
Read more : http://goo.gl/b17ZIX
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