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Project portfolio management - PPM

Doing the right projects-Our approach

The traditional criteria of a project’s success, based on the triple constraint (scope, budget, time), are no longer sufficient. In addition to effectively managing the projects, we have to make sure that they are useful to the organization, that they bring the value, and that they are aligned with the strategic objectives of the organization.

There is nothing more demoralizing than to carry out effectively a useless project. Therefore, the project value becomes a critical criterion of project success. So, how to choose and execute a portfolio of projects that will support the strategic objectives of the organization, while keeping risks at acceptable level?

To help organizations effectively answer this question, we developed a project portfolio management concept aligned with the industry’s best practices and based on the agile approach. This approach can be entirely suited to the maturity of your organization in project and portfolio management, and to your business reality.

So, the first step of the approach is the assessment of the level of portfolio management maturity This assessment is carried out with our own model (PIMM-Portfolio Improvement Maturity Model), which addresses six areas of project portfolio management. You can obtain the maturity level for each area as well as for the whole portfolio. In reality, the maturity level is not the most important outcome of this assessment. It is obviously much more important for you to know what you need to do to improve your organizational maturity in order to better manage your investments.

The evaluation results are used as the input for the production of the following documents:
• Qualitative analysis of the results (strengths-weaknesses analysis);
• Diagnosis of the current state of PPM practices;
• Plan with detailed actions to improve your portfolio management practices.

The implementation of this plan should result in the establishment of a portfolio management process in your organization. This process should institutionalize portfolio management by defining the activities, their sequence, tools, samples, mechanisms of governance, etc.

The primary issue in project portfolio management is: How to choose and execute the projects that bring the most value/benefits to the organization? To help you answer this question, we developed a concept as well as a project business value assessment tool. This assessment is based on the project’s Business Case and it is performed using a quite unique tool on the market.

Once the right projects have been selected, it must be ensured that planned benefits are achieved. To do so, we propose a process of portfolio performance monitoring based on strategic dashboards and indicators and adapted to different levels of management. These indicators are designed specifically for project portfolio management and differ substantially from the project management indicators. They address the overall portfolio performance and, for the most part, are proactive.

In addition, to effectively managing your project portfolio, we propose a flexible organizational structure for your organization. This structure may be called differently: Strategic Project Portfolio Office - Value Management Office - Corporate Project Portfolio Office - Project Office- Project Governance Office, etc. In fact, the title is not important. What is important is that this structure is simple, flexible and effective.

Finally, do not forget the portfolio management software, a prerequisite of project portfolio management success. We can assist you in implementing the portfolio management software of your choice, but we recommend SaaS, or cloud based tools, designed to manage primarily the PPM functionalities (called by Gartner "PPM sweet spot"). We are proud to be the partner of two leading PPM cloud solutions, Innotas and Workfront (formerly AtTask).

Do You Need PPM?

Do you recognize yourself in any of the following?

 • Too many projects;  
 • We always lack project resources;
 • We never kill projects; 
 • Too much overtime; 
 • Our project resources are exhausted; 
 • Very high turnover rate of project resources. 

If you answer is “Yes” to at least two of these questions, you need to start thinking about implementing a project portfolio management process.

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