"Maximizing Efficiency: Implementing an Organizational Project Portfolio Management (PPM) Strategy"

What is a Portfolio Management?

“Portfolio Management is the selection, prioritization and control of an organization's programms and projects, are in line with its strategic objectives and capacity to deliver”

Project Portfolio Management, PPM emerges as a method to manage the core of the organization strategy that keeps in evaluating, prioritizing, and selecting a project in line with the business strategy. The entire process is based on the ability to make sound decisions

“such a decision relates to – achieving a profitable investment mix, allocating assets as per risk and financial goals and diversifying resources to combat capital erosion.”

What is the value of Portfolio Management?

Project Portfolio management, PPM provides real-time updates of the project metrics and enhances the efficiency of the overall process. Benefits of the project portfolio management, It provides

“a holistic approach that monitors project status and its health, interdependencies, and the performance of resources assigned to the projects”

The ultimate mission of any corporation or business owner is to meet the strategic short-term /long -term goals. Thus, leadership must ensure that projects are aligned with business strategy and objectives. If not, it leads to project overload, waste of resources, and workforce efforts.

Organizational “Project portfolio management and governance” can be effective but requires a significant amount of time from project teams to collect data and create reports for the governance committee to shift through the reports and data to make better decisions aligning with the corporate business strategy. 

In this screen shot it’s a brief of “Portfolio Management Capabilities” by lifecycle stages.

Define the Portfolio with a Plan

A "Portfolio plan" defining how the portfolio will be managed, “a depiction in words and diagrams of what the portfolio comprises, its major dependencies, expected timescales and major deliverables”

Supporting analyses may include cost and benefit schedules, key risks, and major stakeholders.

In this screen shot it’s a brief of how to “Define the portfolio”

👉🏼 IDEATION, 👉🏼 WORK INTAKE, 👉🏼 STAGE GATE setup, 👉🏼 PORTFOLIO PLANNING, 👉🏼 CAPACITY PLANNING, and👉🏼 PORTFOLIO RISK MANAGEMENT

Step by Step Guide to Deliver Portfolio Value

👉🏼 1) DEFINE THE PORTFOLIO, 👉🏼 2) OPTIMIZE PORTFOLIO VALUE, 👉🏼 3) PROTECT PORTFOLIO VALUE and 👉🏼 4) DELIVER PORTFOLIO VALUE

Portfolio Optimization

"Portfolio optimization" happens on multiple levels and it’s wise to be managed according to corporate needs. Followings are the most used variables while considering organizations portfolio optimizations,

👉🏼 COST VALUE OPTIMIZATION by risk adjusted with portfolio value VS. total portfolio costs,

👉🏼 RESOURCE OPTIMIZATION by monthly resource forecast,

👉🏼 SCHEDULE OPTIMIZATION by project sequencing while take care about the dependencies and time constraint,

👉🏼 WORK TYPE OPTIMIZATION by corporate categorial designation,

The primary goal is to deliver maximum business value.

In this screen shot it’s a brief of how to “Optimize Portfolio Value”

To shape the portfolio, the sponsor and portfolio manager seek out visibility of the project, program plans constituent and agree how to reshape those constituents depending on the organization's ability to resource the entire portfolio.

In a strategic portfolio, governance entirely aligned with the decision of corporate executive teams according to business strategy, mission and visions.