It is not surprising that we are seeing an alter in the Project Portfolio Management (PPM) landscape and the emergence of a new dividing line when you look at the impact that social, mobile, cloud, and big data trends are having on organizations. Not only this, but with the need to support Lean and Agile processes it has made today’s PPM tool choice more difficult than ever before. These changes have created a new dividing line between above-the-line and below-the-line tools.
There is no doubt that the practice of Project Portfolio Management (PPM) has expanded over the past few years, but it has also evolved.
With 2013 coming to an end, many are looking to 2014 and the predicted changes and other happenings that may come along.
Personally, I love to see the many different predictions that come out - many of which seem quite unlikely and others that generally hit the mark.
In light of this, I have gathered the most likely, reasonable predictions that I could find regarding project portfolio management in 2014.
Most will come of no surprise, but hopefully they will act as a good reminder for where your focus should be.
We recently asked members from our community to participate in our State of PPM survey to gauge current PPM needs, challenges and plans to overcome such challenges.
This survey contained brief multi-choice questions, which was answered in an online form and completed by 64 respondents. Those who completed the survey came from both a range of job titles and industries.
There are a number of roles that can benefit from such improvements, but these largely fall into five buckets: senior or executive management, project resources, project managers, project sponsors and key stakeholders and requesters. Some of these roles will realize similar benefits, whilst others can see very specific advantages for their roles.
If project tasks, such as manual reporting, a lack of portfolio visibility or inconsistent project management practices are becoming a major issue in your organization, then you may start looking for a solution to these problems. But where should you start? Do you begin by evaluating what processes you could put in place? Or do you look for a ppm tool to assist you manage your portfolio of projects? These are two common approaches that many organizations take, but which is the better approach?
Project Portfolio Management (PPM) is a practice that has continued to evolve over the past decade. The software products have become significantly more mature, but the question remains - how do organizations get from where they are to a fully functioning ppm scenario? Is the portfolio management software market making things too complicated by demonstrating the entire vision as the end goal?
Managing the uncertainty in resource availability is a major challenge for most involved in project portfolio management, despite taking numerous actions to mitigate this challenge. Often you have selected a high priority project, defined your scope and effort estimates, identified and responded to critical risks and have scope well managed, but yet your project is still behind schedule. So, why does this happen? Is it because of scope creep? Effort underestimation? Technology risks? Or political delays?