Project Portfolio Management (PPM) is a useful solution for any project management office (PMO) looking to better manage and execute their projects and keep their organization producing value. Most organizations are able to manage projects in a task management solution or by using complex spreadsheets, but the truth is at a certain point it becomes not only highly productive to move to a PPM solution, but in some cases all but necessary. Here are the top 5 project portfolio management use cases.
- Resource Time Tracking: Often time project leaders estimate resource hours by soliciting feedback from skilled resources. 62% of organizations cite “capturing time/costs against projects” as their biggest project management challenge.
- Project Inventory and Tracking: Project inventory provides visibility to the entire organization’s project workload. Better manage robust project inventory, tracking, and reporting.
- Managing Portfolios: Organizations can better evaluate the benefits and risks of individual projects in the context of the entire portfolio. Using a platform to enhance portfolio visibility, identify portfolio health, and enable portfolio level reporting leads to increased portfolio success.
- Reporting: Visibility into project and portfolio activity is paramount to illustrating the value and impact projects have on an organization. 66% of organizations communicate with their clients using their project management software.
- Resource Management: Resource management is key to the success of every project. The ability to identify resource demand and required skillsets, and manage resource workloads can provide leadership predictive capabilities to proactively manage constraints and ensure balanced capabilities.
For more details on each use case including symptoms to keep an eye out for and results you can expect out of a PPM solution, take a look at the full infographic.
The information displayed in this infographic is a joint message with our partner, Lewis Fowler. The consulting experts at Lewis Fowler are seasoned portfolio management leaders with experience implementing and utilizing project portfolio management solutions.