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Project and Portfolio Management

Project and Portfolio Management

Project Portfolio Management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial goals, while honouring constraints imposed by customers, strategic objectives, or external real-world factors. The International standard defines the framework of the Project Portfolio Management.

PPM provides program and project managers in large, program/project-driven organizations with the capabilities needed to manage the time, resources, skills, and budgets necessary to accomplish all interrelated tasks. It provides a framework for issue resolution and risk mitigation, as well as the centralized visibility to help planning and scheduling teams to identify the fastest, cheapest, or most suitable approach to deliver projects and programs. Portfolio Managers define Key Performance Indicators and the strategy for their portfolio.

Pipeline Management. Pipeline management involves steps to ensure that an adequate number of project proposals are not generated and not evaluated to determine whether (and how) a set of projects in the portfolio can be executed with finite development resources in a specified time. There are three major sub-components to pipeline management: ideation, work intake processes, and Phase-Gate reviews. Fundamental to pipeline management is the ability to align the decision-making process for estimating and selecting new capital investment projects with the strategic plan.

Resource Manager. The focus on the efficient and effective deployment of an organization’s resources where and when they are needed. These can include financial resources, inventory, human resources, technical skills, production, and design. In addition to project-level resource allocation, users can also model ‘what-if’ resource scenarios, and extend this view across the portfolio.

Change Control. The capture and prioritization of change requests that can include new requirements, features, functions, operational constraints, regulatory demands, and technical enhancements. PPM provides a central repository for these change requests and the ability to match available resources to evolving demand within the financial and operational constraints of individual projects.

Financial Management. With PPM, the Office of Finance can improve their accuracy for estimating and managing the financial resources of a project or group of projects. In addition, the value of projects can be demonstrated in relation to the strategic objectives and priorities of the organization through financial controls and to assess progress through earned value and other project financial techniques.

Risk Management. An analysis of the risk sensitivities residing within each project, as the basis for determining confidence levels across the portfolio. The integration of cost and schedule risk management with techniques for determining contingency and risk response plans, enable organizations to gain an objective view of project uncertainties.

The most popular products in category Project and Portfolio Management All category products

SAP BPC (BUSINESSOBJECTS PLANNING AND CONSOLIDATION)
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Asana ПО для управления проектами
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Wrike ПО для управления проектами
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INFOR LN
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GENIUS INSIDE Genius Project
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BIPULSE - Проекты Вовремя
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DOIST Todoist
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COREL MindManager
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ZOHO Sprints
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ATLASSIAN Trello
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Characteristics

Payment

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Free Trial

Creating multiple projects

User interface

Creating project teams

Creating professional groups

Share board without creating groups

Integration with other services

Creating your own integration through the open API

Flexible privacy settings

Access options for the project

Advanced features for business customers

Role settings

Change history

Customization options

Copying projects, lists and cards

Assigning tasks

Multiple Assignees

Create automatic questions

Live chat with members of the same group

Saving drafts for all entities

Gantt chart

Project Templates

Execution time tracking

Tracking task execution through graphics

Editing documents in real time

Budget planning

Detailed Task Reports

Advanced search for free resources for project implementation

Quick search and filtering tasks

Prioritization of tasks

Gamification of work with goals

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F.A.Q about Project and Portfolio Management

What’s the difference between Project Management and Project Portfolio Management?

Project management is focused on an individual project, making sure it achieves its objectives and adheres to cost schedule baselines and performance standards. Project portfolio management, on the other hand, takes into consideration all the projects within a portfolio. The primary objective here is to select and maintain the appropriate mix of projects and to assess the costs, risks, and returns of running these projects in relation to how they match with organizational goals. Simply put, project management is about doing the project right, project portfolio management is about doing the right projects.

What Problems Can Project Portfolio Management Address?

Project Portfolio Management helps companies avoid project overload and work on projects that are not aligned with the ultimate vision. In other words, project portfolio management helps companies to work towards their goals without getting sidetracked by too many shiny pennies (ie. projects that appear to be enticing but actually drain their resources for little return).

How does Project Portfolio Management help with new product development?

Project Portfolio Management supports companies in assessing, evaluating and ranking new product ideas before they become projects, so that time, money and human resources can be spent working on projects that support strategic objectives. This becomes increasingly important and relevant for companies that receive dozens if not hundreds of project proposals.

What are the key elements of successful portfolio management?

Goals, objectives, governance, approval processes and monitoring portfolio performance.

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