What happens when you don’t implement Project Portfolio Management?

Author: Ian Needs

Project portfolio management, or PPM, is integral to delivering projects effectively. The benefits are well documented, but unfortunately, all too often counter-productive tools such as spreadsheets are put in place. In some cases, project portfolio management software is completely overlooked, as implementing it can often lead to difficulty in showing tangible returns.

A project can succeed without PPM, however, multiple projects can often be completed more quickly and to a higher standard if project portfolio management software is implemented, thus making the business as a whole more productive and efficient. It also has the ability to drive better decisions as it allows improved visibility and control over your projects, which is particularly useful as your business grows or you need to prove the value of your PMO.

We have created this neat infographic displaying what the potential consequences are if PPM is not implemented and the impact it can have on your organisation.

One of the reasons many organisations are reluctant to implement project portfolio management software is due to the size of these systems and high potential this causes to overcomplicate implementations. Many organisations are also only used to managing projects at a transactional level, which means they fall into the trap of taking a bottom-up, execution led approach, which places a massive burden on everyone to update transactional data to gain a picture of project status.

In our article, Project Portfolio Management Tools: Focus on Your Business Issues, Not Bells and Whistles, we look at how a more strategic approach to project portfolio management can reduce this complexity, enabling you to focus on your resources, costs and deliverables in order to achieve results fast and to greatly simplify the implementation of project portfolio management software.