Managing multiple projects simultaneously is challenging. PPM optimizes resources, budget,& aligns projects with strategic goals, enhancing efficiency
Portfolio Management Process
PPM focuses on managing multiple projects simultaneously, aligning them with organizational strategy and goals, unlike project management, which manages single projects.
What is PPM?
The first step is to set long-term goals and strategies. This helps identify projects that align with these goals, forming the foundation of PPM
Define a Long-Term Strategy
Identify and evaluate existing and upcoming projects based on long-term goals. This ensures resources are used on projects that align with company strategy.
Define Your Project Portfolio
Establish specific evaluation criteria for each project. This ensures alignment with strategic goals and helps categorize projects based on resources, investments, and risks.
Establish Evaluation Criteria
Create a risk management strategy to handle unexpected challenges. Periodic risk assessments during project execution are essential to avoid potential losses.
Develop a Risk Management Strategy
Continuously test and adapt the PPM process. Analyze underperforming projects for improvement and replicate successful project elements to adjust others.
Adapt the Processes
Invest in PPM tools, like Uppwise, to manage and optimize the portfolio management process. These tools streamline project evaluation and execution.
Invest in PPM Tools
Implementing a structured PPM process aligns projects with company goals, optimizes resources, and enhances development.