Enterprise Project Portfolio Management
Juggling multiple projects and tasks within a formalized framework requires more than skill and organization—it requires the right software. Business professionals who are responsible for accurately tracking and managing ongoing projects can use project portfolio management (PPM) systems to analyze their work throughout the pipeline and adjust priorities on a real-time basis.
What is Enterprise Project Portfolio Management (EPPM)?
Businesses must adapt quickly to fluctuating nature of markets and modifying project conditions, and meeting the demand for visibility and actionable information across separated, self-managed project teams. Enterprise project portfolio management (EPPM) allows project-driven businesses to organize their programs and projects wisely.
EPPM brings greater portfolio management solutions by providing end-to-end, real-time progress. EPPM solutions also let companies to rethink the risks and rewards going along with projects and programs by making project management, collaboration, and management abilities necessary to follow change and effectively deliver projects on time, within project budget, and with the certain quality and agreed design.
Pick Wisely & Prioritize
Every company faces crucial enterprise investment decisions to be taken. Managers are always in a process of choosing from a various options of potential investment cases and supporting projects. If the decision-making procedure relies on uncertainties, the result can seriously affect company revenue.
Portfolio management assists decision-makers to logically prioritize, outline and manage enterprise portfolios. PPM also proves that the company continues to enhance productivity and duly delivery - bringing value, strengthening performance, and eventually improving bottom-line numbers.
PPM lets businesses to:
- - Bring initiatives that go along with the company's strategy and mission;
- - Check and prioritize investments, only with clear business-case justification that practically combine funding and staffing;
- - Follow the status of activities and align them with the latest performance results of budget inputs;
- - Revise portfolio performance in no time and collate current data to past or future data to clarify investment gaps and possible problems
- - Use information for portfolio updates - increasing, reducing, or withdrawing investment funding where needed.
King of Efficiency: Do Better With Less
Improving competition and wiser budgets are bringing advanced financial check-up for the projects' funding, describing and executing. To boost project ROI, businesses must be able to seizure costs and follow productivity throughout the whole project lifecycle.
Enterprise PPM allows companies to systematically revise project management workflows while decreasing inefficiencies and automating the processes. Moreover, putting together all project related information forms a stable and logical approach to all projects, budgets and portfolios, for delivering top project value while minimizing costs.
Use Great Practices
Enterprise project portfolio management steps differ from project to project, and skilled project managers who can share best practices with your company are difficult to find. EPPM enables companies to overlook project management processes ongoingly, and catch best practices, bringing rising degrees of efficiency from these great practices.
Guarantee Clear Decisions & Governance
Projects include a complex chain of relationships between individuals at every level, both within and across organisations.
Setting governance processes and certain structures for inner and regulatory reports is complicated, often too specific and not attached to decision making around corporate strategy.
Enterprise project portfolio management brings together all project members, data points, and tasks to deliver a combined view of project, and portfolio progress. EPPM also comprises a unified framework for the whole company to set rigorous control and governance levels to assure all projects are aligned to business objectives. Project members definitely win from an integrated solution, that allows them to follow all project-related, target-critical information.
EPPM solutions also give the complete information, and it is quite important for having the right decisions at the certain level and at each stage - concentrate project members' energy at reaching desired common goals; make resource spreading decisions now and plan for coming needs ahead; and definitely, sustain enterprise-wide project portfolio management.
Foresee Changes, Risks and Possibilities
Stable project delivery is key to consolidating customer satisfaction and improving a company's revenue and success. The powerful companies can efficiently anticipate changes and alleviate risks by early response and contingency plans' preparation.
Enterprise project portfolio management allows businesses to define risk factors fast and throughout all projects to set an enterprise risk management process and culture. Analyzing changes on every level of every project allows companies to create control mechanisms for changes, and successively bring projects back to primary budgets and milestones.
EPPM solutions can also help in forecasting project and portfolio performance, analyze risks and obstacles through early warning indicators, and allowing them to create and implement a process for developing response plans for creating opportunities from potential risks.
Satisfy Resource Needs
Businesses struggle to build projects fitting the primary project specifications. To efficiently leverage resources, for example people, equipment and products, the pragmatic view must embrace more than only certain project, and cross usage must be clearly coordinated.
Enterprise PPM solutions allow companies to match the suitable resources to the right projects at the appropriate time. EPPM enables to ground capacity of a complete project at any point in time.
To download our EPPM leaflet, click here.