As organizations fight tenaciously for every inch of market share, IT departments have had to deploy technology that assists these dynamic organizations to remain competitive. One of these technologies is project portfolio management (PPM): a set of processes to analyze, recommend, authorize, activate, expedite, and monitor projects to meet organization improvement goals. Figure 1 provides a visual of these processes and how they flow during a project.
Figure 1. The flow of PPM processes.
According to The AMA Handbook of Project Management (2nd edition), PPM, when used to its full potential, can assist organizations to realize the following goals:
an estimated 20–30 percent reduction in the time it takes to develop new products
significant improvement in completing projects on time and on budget
improvements in research and development (R&D) productivity
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