Managing the Project Portfolio
- Topics:
- Project Management
- Tags:
- It Operations,
- It service Management,
- Management,
- Project Management,
- Project Portfolio Management,
- Tools & Techniques
- Source:
- Clarity Consulting
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Overview: An important question which arises is that whether project portfolio management is a passing fad? Or a smart idea whose time has come? Project portfolio management is all about getting the biggest bang for the buck. Its primary goal is to produce the highest payback possible from each investment that a company makes. This article discusses why it is essential to manage project investments in a proactive, disciplined manner, explores the notion of a "project," and provides an overview of what project portfolio management entails. The project portfolio management has several advantages. Some of these advantages include the right mix of projects are in the portfolio to maximize overall returns, the risks posed by the projects in the portfolio are balanced and many more. Project portfolio management is concerned with two fundamental things -- effectiveness and efficiency. These effectiveness and efficiency goals are pursued through four steps which have been discussed in the article. Hence whether a company is interested in wringing the next ounce of improvement, reducing wasteful spending on marginal projects, or targeting resources to areas with the highest payback, active project portfolio management is a critical part of the strategy.
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Format: HTML | Date: Jan 2003 | Pages: 1
