It's only natural for businesses to evaluate processes in the face of rapid change. If your organization has been doing things the same way for a long time and is stuck looking for a better way forward, project portfolio management (PPM) can help transform your approach to project management. You know that PPM is the process in which organizations increase the chances that they focus on the right projects at the right times—and that they have the right people and resources in place to tackle them.
Project management is continually evolving with new technologies and best practices that transform the way we work. In the age of agility, business needs can shift at a moment’s notice, changing project management strategies at the same time.
Despite this evolution, on a basic level, the process of planning and executing projects hasn’t changed that much. Work still needs to be done and done well, resources need to be allocated effectively, and profitable projects need to be prioritized.
So if you're already familiar with PPM, but are — like most Project Management Office (PMO) leaders — continuously looking to improve your organization's strategy we have good news for you. Here are 3 simple ways you can evolve your approach to PPM:
3 Ways to Evolve Your PPM Process
Moving your PPM process forward requires a balance of staying true to what works for your organization while also leveraging new approaches and tools. With that in mind, let’s take a look at three ways organizations like yours have been transforming their approach to PPM—and as a result, reaping better business outcomes.
1. Adopting more agile principles
As the name suggests, business agility refers to an organization’s ability to remain nimble in the face of an ever-changing market. These teams are able to move quickly as well as respond to shifting needs and sentiments. In large part, this is due to the fact that they work with both internal teams and customers to figure out how to make their products best in class.
In recent years, numerous teams across organizations have begun to take this methodology more seriously. Today, it’s common to see business agility across marketers, finance departments, and insights teams. As such, applying this approach to your PPM strategy is not only 'trending,' but business-critical.
Your teams need visual alignment to the changing priorities of your business to ensure the decisions they make on a day-to-day basis align with your strategic needs. As teams complete a project, they look back and figure out what worked well and what didn’t. They keep the best features and go back to the drawing board, continuously improving along the way.
2. Try new strategies
Although this agile philosophy is rapidly becoming the go-to approach for many, there are a number of other strategies teams should be familiar with, too, including:
- The waterfall approach, in which team members must wait on someone else to complete a task before moving on to their own task
- The strategic approach, in which teams prioritize the big picture by arriving at a thorough understanding of clients’ needs
- The scrum approach, in which teams meet at regular intervals to give status updates, thereby maintaining open lines of communication
When you operate under more adaptable principles, it’s easier to try these different approaches as projects change and needs shift.
3. Use new technologies
With digital transformation has come the emergence of tools that can streamline some portions of your project management process, such as Slack or Kanban-style project management tools.
But these tools are not adequate or adaptable enough to handle the complexities of your unique organization or the vast portfolio of projects that you manage. Reaching your organization’s objectives is key to reaching your organization’s full potential. Changepoint PPM offers more customization to better suit the ever-changing needs of your organization. With the right tool in place, your team can gain real-time insight into all of your projects from one central location, aligning projects in a way that makes it easier to meet and exceed your business goals.
How Changepoint PPM Can Move Your PPM Process Forward
By adding Changepoint PPM to your team’s tool kit, you gain deep insight into a complex mix of projects, making it easier to efficiently manage staff and resources, streamline the project intake process, and align projects with your overall business strategy. At the same time, Changepoint PPM enables you to leverage powerful embedded analytics capabilities—all in one powerful, configurable solution designed for organizations like yours.
Start off on the right foot. You can learn more about supercharging your PPM process with our new PPM Buyer's Guide.
We look forward to helping your team gain control over planning, adapting, and delivering the right projects for your organization.