Jul 4, 2011

What is Project Portfolio Management and how to do it?

Project Portfolio Management is relatively a new idea in project management world. It can be defined as:

“Managing and prioritizing projects, analyzing project vital stats and resources and helping organization in making better executive decisions and changes in projects”

Basically Project Portfolio Management provides unified view across different projects and helps in assessing and comparing projects progress, resource assignments, budget and schedule and taking command of overall change management and executive decision making.

The key to establish and operate a good project portfolio management office is to have a software solution that can help in gathering, storing and presenting unified view across data of various projects. Following are some of the best project portfolio management software currently in market:
Clarizen: http://www.clarizen.com/Solutions/ProjectPortfolioManagement.aspx
Microsoft Project Server: http://www.microsoft.com/project/en/us/project-server-2010.aspx
Oracle Project Portfolio Management (Primavera): http://www.oracle.com/us/solutions/project-management/index.html

Learn more about PPM:
What’s Project Portfolio Management (PPM) & Why Should Project Managers Care About It?: http://michaelgreer.biz/?p=147
QuickStudy: Project Portfolio Management: http://www.computerworld.com/s/article/69129/Project_Portfolio_Management

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