{"id":22973,"date":"2023-09-18T07:35:00","date_gmt":"2023-09-18T12:35:00","guid":{"rendered":"https:\/\/blog.planview.com\/?p=22973"},"modified":"2025-02-20T11:08:45","modified_gmt":"2025-02-20T17:08:45","slug":"3-predictions-for-whats-next-in-project-portfolio-management","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/3-predictions-for-whats-next-in-project-portfolio-management\/","title":{"rendered":"3 Predictions for What\u2019s Next in Project Portfolio Management\u00a0"},"content":{"rendered":"\n<p>You know the saying: The only constant is change.&nbsp;<\/p>\n\n\n\n<p>It\u2019s true for all disciplines and describes the project portfolio management (PPM) market for several reasons. Consider these changes faced by PMOs in recent years:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The call to infuse agility and become a modern PMO.&nbsp;<\/li>\n\n\n\n<li>The market\u2019s <a href=\"https:\/\/mcas-proxyweb.mcas.ms\/certificate-checker?login=false&amp;originalUrl=https%3A%2F%2Fwww.gartner.com.mcas.ms%2Fen%2Fdocuments%2F3986917%3FMcasTsid%3D20892&amp;McasCSRF=d7492b00ce839b28ebcc50ea52c2986f34e2a26f2c09235df604f93e93d6c2f1\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"ek-link\">landmark evolution<\/a> in 2020, which bifurcated PPM to support strategic portfolio management and adaptive project management.&nbsp;<\/li>\n\n\n\n<li>The pandemic\u2019s impact on the labor market and the rise in burnout.&nbsp;<\/li>\n\n\n\n<li>The economic headwinds and uncertainty driving an increased focus on outcomes and productivity.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Why is the <a href=\"https:\/\/mcas-proxyweb.mcas.ms\/certificate-checker?login=false&amp;originalUrl=https%3A%2F%2Fwww.planview.com.mcas.ms%2Fproducts-solutions%2Fsolutions%2Fproject-portfolio-management%2F%3FMcasTsid%3D20892&amp;McasCSRF=d7492b00ce839b28ebcc50ea52c2986f34e2a26f2c09235df604f93e93d6c2f1\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"ek-link\">project portfolio management<\/a> market continuously evolving? In short, it\u2019s because the nature of business and the technologies that support the market are constantly transforming.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>The pressure to evolve is mounting for the PMO, which needs to adapt to new digital strategies \u2013 and more strategic, product, or initiative portfolios \u2013 while bridging traditional practices.&nbsp;&nbsp;<\/p>\n<\/blockquote>\n\n\n\n<p>That challenge will only intensify. In fact, according to Gartner<sup>\u00ae<\/sup><sup>1<\/sup>:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>By 2025, 70% of digital investments will fail to deliver the expected business outcomes due to the absence of a strategic portfolio management approach.&nbsp;<\/li>\n\n\n\n<li>By 2025, more than 60% of strategic portfolio leaders will transition from overseeing delivery execution to overseeing value realization as their primary objective.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>As the evolution continues, both your PMO and your organization must not only stay abreast of changes but act in anticipation of them. The more flexible you are, the better positioned you will be to face whatever may come at the pace of change.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.planview.com\/3-predictions-for-whats-next-in-project-portfolio-management\/#Where_is_the_PPM_Market_Headed\" >Where is the PPM Market Headed?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.planview.com\/3-predictions-for-whats-next-in-project-portfolio-management\/#Change_Breeds_Opportunity\" >Change Breeds Opportunity&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-where-is-the-ppm-market-headed\"><span class=\"ez-toc-section\" id=\"Where_is_the_PPM_Market_Headed\"><\/span>Where is the PPM Market Headed?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As a Leader in the September 2023 Gartner Magic Quadrant\u2122 for <a href=\"https:\/\/info.planview.com\/gartner-adaptive-pm-reporting-mq-_report_prm_en_reg.html?\" target=\"_blank\" aria-label=\"Adaptive Project Management and Reporting (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"ek-link\">Adaptive Project Management and Reporting<\/a> and April 2023 Gartner Magic Quadrant for <a href=\"https:\/\/mcas-proxyweb.mcas.ms\/certificate-checker?login=false&amp;originalUrl=https%3A%2F%2Finfo.planview.com.mcas.ms%2Fgartner-spm-mq-_report_sp_en_reg.html%3FMcasTsid%3D20892&amp;McasCSRF=d7492b00ce839b28ebcc50ea52c2986f34e2a26f2c09235df604f93e93d6c2f1\" target=\"_blank\" rel=\"noreferrer noopener\">Strategic Portfolio Management<\/a>, we aim to stay closely connected to the changing tides of the market and the evolving needs of our customers.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Based on our conversations with customers and an analysis of current project portfolio management trends, we\u2019ve identified three predictions that will transform project portfolio management into strategic portfolio management in the coming years.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">AI will surface operational intelligence that unifies the organization and drives strategy.&nbsp;<\/h3>\n\n\n\n<p>AI will play an important role in nearly every technology, and its impact on portfolio management will be profound. We predict solutions will leverage AI to move <a href=\"https:\/\/blog.planview.com\/how-ai-is-improving-early-warning-systems-in-project-management\/\" target=\"_blank\" aria-label=\"beyond managing projects (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"ek-link\">beyond managing projects<\/a> and into the role of strategically steering organizations forward. This will include:&nbsp;&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li>Dramatically enhancing the customer experience through AI-powered assistants that align users, using a natural language interface, to provide direct answers to queries. This will guide all teams toward more targeted conversations on risk analysis, resource limitations, and on-time delivery.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>Using data collected from every corner of the organization to simulate and evaluate various scenarios, enabling strategic, data-driven decision making that ensures the best possible outcomes.&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li>Leveraging predictive AI analytics to power early warning systems that alert companies when projects are at risk of failure through every stage of the process\u2014from planning to delivery\u2014and enabling companies to act before an issue develops by assigning new resources, reallocating budgets, or taking other necessary steps.&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>AI will deepen operational intelligence and drive strategic decision making.&nbsp;<\/p>\n<\/blockquote>\n\n\n\n<p>This will make it easier for teams to collaborate. At the same time, it will provide insight into real-time risks and on-time delivery that aligns with your company\u2019s strategy and, therefore, enables the executive teams to drive strategy.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Tomorrow\u2019s portfolio management solutions will deconstruct silos and connect functional teams across the organization.&nbsp;<\/h3>\n\n\n\n<p>Next-generation portfolio management platforms must respond to the needs of virtually every stakeholder in your organization:&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li>Executives must have access to real-time, actionable data regarding the health and status of their business initiatives to drive faster and more accurate decisions.&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>PMOs must be able to provide direction to various areas within your organization to de-risk strategic bets.&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li>Organizations must establish processes and governance policies that increase efficiency and enable productivity but that also allow for self-direction.&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"4\">\n<li>Teams must have a common language to facilitate connected work and break down silos and other barriers to communication.&nbsp;&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>How will the market respond?&nbsp;&nbsp;<\/p>\n\n\n\n<p>The market will see an evolution of work method-agnostic connected networks that integrate multiple systems and break down data silos. This type of platform will mitigate communication barriers, provide end-to-end visibility, facilitate connected work, easily link people to customers and strategy to delivery, and allow teams to use the tools that make them productive.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The platform will also leverage the power of generative AI to support your investment strategies, track project progress and results, and enhance the management of your digital products and experiences.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Only when your teams and tools are connected and aligned with shared objectives, shared metrics, and key results can you yield better decisions and deliver better outcomes.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Cloud deployment will accelerate digital transformation.&nbsp;<\/h3>\n\n\n\n<p>According to Gartner<sup>2<\/sup>, by 2025, 80% of enterprises will have adopted multiple public cloud infrastructure as a service (IaaS) offerings \u2014 including multiple K8s offerings.&nbsp;&nbsp;<\/p>\n\n\n\n<p>We agree. Even where sovereignty-related or regional constraints may today require on-premises or hybrid solutions, we anticipate barriers to cloud-based solutions will be systematically removed.&nbsp;&nbsp;<\/p>\n\n\n\n<p>As a result, cloud-based solutions will continue to gain market share due to the many benefits they\u2019ve become known for, including:&nbsp;&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li>Scalability and guaranteed uptime&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>Reduced costs&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li>Minimal in-house expertise requirements for management and administration&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>The benefits of cloud-based tools will be too great to ignore, especially in the midst of an economic downturn. Moreover, a cloud-based approach will breathe new life (and urgency) into the digital transformation underway for the last decade.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Change_Breeds_Opportunity\"><\/span>Change Breeds Opportunity&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As portfolio management evolves, it will increasingly act as a key strategic driver across your business. This is an important opportunity for your organization, and particularly for your PMO, which stands to gain significant leadership authority in the transition.&nbsp;<\/p>\n\n\n\n<p>By embracing this new technology, PMOs will be positioned to navigate disruption and make the project-to-product shift. This will elevate you to a new role \u2013 one that shepherds the delivery of value and outcomes over activities and outputs.&nbsp;<\/p>\n\n\n\n<p>The key is to understand the opportunity and to arm yourself with the tools required to thrive in the next paradigm. Planview can help. To read more about Planview\u2019s approach, download the <a href=\"https:\/\/info.planview.com\/gartner-adaptive-pm-reporting-mq-_report_prm_en_reg.html?\" target=\"_blank\" aria-label=\"2023 Gartner\u00ae Magic Quadrant\u2122 for Adaptive Project Management and Reporting (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"ek-link\">2023 Gartner\u00ae Magic Quadrant\u2122 for Adaptive Project Management and Reporting<\/a>.&nbsp;<\/p>\n\n\n\n<p><em><sup>1<\/sup><\/em><em>Gartner, <\/em><em>Top Trends for Strategic Portfolio Leaders for 2023, Kevin Rose, Rachel Longhurst, et al., 14 August 2023.<\/em>&nbsp;<\/p>\n\n\n\n<p><em><sup>2<\/sup><\/em><em>Gartner, Market Guide for Cloud-Native Application Protection Platforms, Neil MacDonald, Charlie Winckless, Dale Koeppen, 14 March 2023.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>GARTNER is a registered trademark and service mark of Gartner, Inc. and\/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and\/or its affiliates and are used herein with permission. All rights reserved.<\/em>&nbsp;<\/p>\n\n\n\n<p><em>Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner\u2019s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.<\/em>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pressure to evolve is mounting for the PMO, which needs to adapt to new digital strategies \u2013 and more strategic, product, or initiative portfolios \u2013 while bridging traditional practices. Find out how you&#8217;ll need to adapt, so you can move into the next phase of portfolio management with confidence.<\/p>\n","protected":false},"author":215,"featured_media":23064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[9684],"tags":[],"class_list":["post-22973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategic-portfolio-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 Predictions for What\u2019s Next in Project Portfolio Management\u00a0 - Planview Blog<\/title>\n<meta name=\"description\" content=\"Continuous evolution points to an even more strategic role ahead for the PMO. 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