Project portfolio managers who must have a single version of the truth for all stakeholders achieve this goal through enhanced visibility within a project portfolio management (PPM) solution. With a project repository that captures all the portfolio’s activity —from intake to resource deployment to execution to close—each stakeholder retains peace of mind. This visibility allows each executive sponsor the knowledge that their program management office (PMO) is relevant and credible ensuring the right resources are on the right projects and working within budget in real-time across the globe.
Visibility across the portfolio allows PMO leaders to quantify portfolio health and KPIs
Businesses with PPM visibility have control over project Go/Kill/Hold/Fix decisions. This delivers a repeatable process for prioritizing, selecting and executing projects and ensures portfolio health. It also provides early warning of potential risks and challenges to achieving program and project milestones during execution. Stakeholder visibility with custom reporting allows access to project information relevant to their strategic interests and provides KPIs to work toward based on past success.
A “Single-version of the truth” promotes control and confidence
A centralized project repository that shows all users what is coming up on the project schedule and what has been accomplished, allows teams the appropriate visibility to gain control and become more proactive in the PMO. Personalized dashboards that show real-time project status information, including priorities, overdue assignments, risks, issues, and upcoming tasks, ensure that you can see big-picture disruptions a mile away.
To ensure profitability of your portfolio, you need dashboard reporting with rigorous, ongoing performance monitoring to track not only that key stages are reached on time but includes granular insight into important deliverables, milestones, and the workload of your resources. Only this level of clarity and control will allow you to execute to goal and gain proactivity; collaborative power; and financial resource tracking that protects the bottom line.