{"id":18847,"date":"2021-04-29T00:00:00","date_gmt":"2021-04-29T05:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/project-portfolio-management-what-is-it-why-does-your-business-need-it-2\/"},"modified":"2022-04-05T12:59:38","modified_gmt":"2022-04-05T17:59:38","slug":"project-portfolio-management-what-is-it-why-does-your-business-need-it-2","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/project-portfolio-management-what-is-it-why-does-your-business-need-it-2\/","title":{"rendered":"Project portfolio management: What is it and why does your business need it?"},"content":{"rendered":"

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How often does one project determine the success or failure of an entire company? For small companies, fairly often. For large companies, almost never.<\/p>\n

Yet, no project is an island in any large enterprise. How it gets completed, how resources are utilized, how effectively teams collaborate during a project\u2014all these things are indicators of the over-all project management health and ability to execute and achieve objectives. \u00a0Long-term survival for a large organization is typically dependent on the performance of dozens or hundreds of interconnected projects, rather than one isolated success or failure. If the project management process is broken, it will have a lasting impact on the success of an organization.<\/p>\n

This raises an important question: how can a large company manage so many concurrent projects in a way that will maximize its chances of long-term success? The answer is project portfolio management<\/a>.<\/p>\n

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