Introduction to Project Portfolio Management (PPM)
Optimize Your Business Potential
Evaluating and categorising projects based on their alignment with your goals, assessing their feasibility, allocating resources, and monitoring their progress. It allows you to make informed decisions about which projects to invest in, how to allocate resources effectively, and how to balance risks and rewards.
12 Project portfolio practices
Understanding
Understanding
Understanding
Obtain a clear and transparent view of what's in the current portfolio and pipeline, performance to date, forecast costs and benefits and risks to delivery.
Categorise
Understanding
Understanding
Organise the Portfolio into segments to make it easier for decision makers to understand the makeup of the portfolio and to make decisions on balance and the optimum use of available funding and other resources.
Prioritise
Understanding
Prioritise
Support the Leadership team answer which initiatives the organisation should invest in, what the most important initiatives are, and what initiatives should be resourced above all others.
Balance
Management Control
Prioritise
Ensure the portfolio is balanced in terms of factors such as timing, coverage of strategic objectives, impact across the business, stage of initiatives, overall risk:return profile, and available resources.
Plan
Management Control
Management Control
Collate information to create a portfolio strategy and delivery plan which will be approved by Client Governance Group.
Management Control
Management Control
Management Control
Ensure progress at an individual and portfolio level, is regularly monitored against its baseline and remains aligned with the strategy.
Benefits Management
Financial Management
Financial Management
Clearly identify and manage benefits being realised from the portfolio, ensuring best use of available resources and contribution to performance and strategic objectives is maximised.
Financial Management
Financial Management
Financial Management
Ensure financial considerations form a key element in all decisions regarding the commencement and ongoing viability of changes initiatives, both at an individual and portfolio level.
Risk Management
Financial Management
Risk Management
Ensure a consistent and effective management of risks at both individual and collective level.
Governance
Stakeholder Management
Risk Management
Ensure clarity on what decisions are made by whom, where and when, and what criteira are used.
Resource Management
Stakeholder Management
Stakeholder Management
Ensure Mechanisms are in place to understand and manage the roles and skills available and required.
Stakeholder Management
Stakeholder Management
Stakeholder Management
Ensure a coordinated approach to stakeholder engagement and communication. The needs of portfolio customers are identified and managed, and that stakeholder support is gained by effective consultation and involvement.