PPM Master Class: Empowering the Business through Project Portfolio Management
Learn how Project Portfolio Management Empowers the Business, both Supporting and Enhancing the Project Delivery Process
In Part 2 of the PPM Master Class we look at improving your understanding of Project Portfolio Management and how it empowers the business. To begin with we focus on what’s new about Project Portfolio Management, and how we can define it. Finally we will explore how Project Portfolio Management empowers the business, both supporting and enhancing the project delivery process.
Project Portfolio Management is a shift in thinking from traditional project delivery, and challenges the narrow project-by-project orientated focus to planning. Its successful implementation is driven from the top down, spearheaded by executive and senior management sponsorship and responsibility. Its drive is to bring the strategic and operational plans together to provide a single view of the organization, helping the business to achieve its business strategy whilst optimizing operational efficiency.
Project Portfolio Management straddles the gap between the projects themselves, the management process and their accountability to the business. From a strategic viewpoint, the business can see which projects are delivering the organizations strategy.
Simply put, PPM looks to empower the business, not just the project process. It helps the business establish a clear line of sight from the top right down to the individual project layer.