Having your projects serving your strategy and allowing you to reach the global objectives is a basis for every company. However, we often see corporates which are struggling with unnecessary projects burning cash or not aligned projects consuming resources. this aims to a paradox: One doesn’t have enough money nor workforces to perform the really important projects within the organization.
Selecting the right projects to be done, arbitrating among them regarding to the available resources, budget and so with only one goal, serving the strategy and delivering what needed to succeed, that’s the goal of portfolio management.
Portfolio management has only one goal: ensuring the most out of the available resources with respect to the given strategy. It means identify and promote the most relevant projects, allow the resources, consolidate the forecast, and improve performance while managing the global risk of the portfolio. In that sense, PPM is a key task to be performed within an organization.
I am managing portfolios (mostly of innovative projects but also from operational projects) for more than 5 years now. I have changed portfolios one time and thus have been able to learn a lot about how to apply the good methods to achieve the best performance.
Running a portfolio is not an easy task and is a true management action. Arbitration, killing projects, re-allowing resources are the main task one perform each day.
Running a projects portfolio is the only way to insure that your strategy will be effectively applied by focusing on the awaited results with respect to this high level demand.
But is your company using PPM wisely?I found this infography on I think it orth the reading.