Is your business finding it hard to keep multiple projects in motion? If so, Project Portfolio Management software is the solution.
It's 2017, your business is continuing to grow and pressure to deliver faster results continues to rise. Your PMOs are struggling to manage demand, resources, and strategic objectives—especially if management comes in the form of spreadsheets, disconnected systems, or manual processes.
Without an integrated platform, it's impossible to get a real-time look at what's going on. In reality, It’s hard to imagine any PMO being very successful without the assistance of project portfolio management (PPM) software.
PPM software has evolved substantially over time, capabilities now span well beyond basic project management. The ability to support multiple execution methods, mature resource management processes, integration with core systems, and rich reporting are just a few of the capabilities required for today’s speed of business.
The Challenges PMOs Face
If you’re considering a PPM solution for the first time or looking to replace your existing software, common issues you may be experiencing include ineffective prioritization processes, time-consuming data gathering for management reports, resource bottlenecks, lack of visibility, and inconsistent or unorganized approaches to planning and managing projects.
Changepoint surveyed more than 200 qualified senior project managers and executives at a series of PMO-specific events, and the findings corroborate the disconnect between strategy and execution.
“80% of executives have no real-time insights into how projects are aligned with business strategy”
It is the executive team's job to create the strategic road-map to outline where the company should go, many are lacking the basic ability to see if the initiatives underway support the overarching goals of the company. Without that high-level, real-time view, making course corrections is nearly impossible. This makes it much harder to stop failure before it's too late.
“76% of project managers question if their execution is aligned to larger business objectives with 17% confident it isn't aligned at all”
Project managers are the backbone of programs and projects. It's their job to keep a project on track, anticipate issues, or course correct if needed. All that said, if nearly 20% are confident that project execution isn't aligned with the larger initiatives they're supposed to be supporting, then it becomes impossible to move the team in the same direction as the company. The result veers the company from reaching the goals initially outlined in the strategic road-map by the executive team.
5 Reasons for Project Portfolio Management
The biggest value PPM software offers is real-time visibility: visibility into the project portfolio, project status, resource allocation, and the ability to identify dependencies and measure impact. Without these insights, PMOs lack vision - especially with today’s increasing demand volume.
PPM adoption will help organizations realize and utilize the following business benefits:
Better strategic alignment of portfolios
Aligning resources with strategic initiatives is challenging for any organization, but by capturing all work across the company—both project-related and non-project work— prioritization and trade-off decisions are made with full visibility into business impact. Avoiding low-value projects and “rogue work” is one of the major benefits a PPM tool delivers.
Reduced silos and better collaboration
One of the major benefits of a PPM tool is the cross organization visibility. Resource managers and project managers can better collaborate on project staffing, and finance can more easily provide regular updates on project costs. The more widely adopted a PPM tool, the more transparency there is into project and portfolio status.
Better decision making
A key component to a PPM solution is the reporting capabilities it provides. Dashboards and reports provide a ‘single source of truth’ that makes it possible to use accurate and timely information to make better decisions and gain insight into which projects need more oversight and control.
Streamlined PMO processes
Project types and associated templates expedite the administrative work behind getting a project up and running. With an overall project management framework, fundamental phases, gates, and controlling artifacts (business case, project schedule, status report) help teams get up and running more quickly.
A PPM tool standardizes processes and reduces unstructured data entry. Your teams can stay focused on delivery instead of spending time doing administrative tasks in the PPM tool itself.
CrossConcept have the solution...
CrossConcept is a Certified Daptiv Partner. Daptiv is the industry leading PPM solution used by thousands of business wordlwide! We can assist with offering best practice approaches and help improve your PPM maturity. For complete Daptiv implementation, training, customization and support - CrossConcept have you covered!
We have decades of experience with project management, business process, custom development, sales management and more. We don't just implement and let our clients know how a solution can be configured. We take pride in getting to know our clients' business and recommend the best practice solution to fit their needs based on years of real world experience.
We truly believe our clients' success is our success!
To book a demo or find out more on how our cutting-edge digital solutions can help your business scale, contact us today! (email: firstname.lastname@example.org or call: 1-888-528-3898)