Why are there so many definitions of Project Portfolio Management?

Several years ago when Project Portfolio Management was starting to get more attention and recognition, I worked for a Project Management software company. Those of us in the industry recognized the need to offer a Portfolio Management solution. So we claimed we had that because we gave organizations a view of their projects across the organization. This was a great capability but missed the major value of Portfolio Management. Portfolio Management (PfM) should bring maximum ROI from the organization's investments. Project Portfolio Management is focused on aligning projects to corporate strategic to achieve the business goals. So Project Portfolio Management does look across all the projects of an organization (so does the PMO) but the definition doesn't stop there, the key is the value that the PPM process brings to the business.

The Need for Performance and Portfolio Management

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http://www.guident.com/ or contact the author directly at mailto:info@guident.com.


With ever-increasing scrutiny of Federal IT initiatives’ performance (e.g., Federal CIO, Federal IT Dashboard, TechStat Sessions, Financial Systems Advisory Board, GAO reports, cancelled projects, etc.), the need for sound Portfolio Management and Performance Management is quickly coming to the forefront. Unfortunately, these disciplines often suffer from ill-defined processes, disjointed tools and inconsistent education. At the same time, agencies are banking on the success of their IT initiatives with large investments of time and resources. A cohesive solution of processes, tools and education is needed to bring the focus back to mission objectives and performance relative to those objectives.

What else do you believe are symptoms, contributors to this problem, and possible solutions?

Also, see the below Guident and Oracle webinar on our Project Performance Portfolio Management (PPFM) Solution.

http://www.guident.com/index.php?page=download&target=Managing_Projects_and_Budget_with_OBIEE_and_Primavera.pdf

For more information on this topic, refer to:

http://www.guident.com/ or contact the author directly at mailto:info@guident.com.