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Project Portfolio Management 101

Don’t just run your business, grow it with CA Project Portfolio Management

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What is Project Portfolio Management?

Project portfolio management is the usage of processes, methods, technologies and insights to prioritize investments and the return-on-investments of an organization’s portfolio of initiatives. Project portfolio management helps organizations collect ideas, organize work, assign resources, allocate budgets, track progress and report results within an organization.

Organizations use a project portfolio management approach when evaluating the potential success-rate, length, and funding of a project within their portfolio. Project portfolio management is often used to understand how investments are made across an organization, and determine how certain investments will impact the business, or if they align to the organization’s larger goals or plans.

With a project portfolio management solution, like CA Project & Portfolio Management, the project, resource, financial and executive leaders alike can prioritize their projects, fund the ones that are most important, see funding across their organization and collaborate on projects in one single system. The usage of a single portfolio management system enables organizations to connect funding to features and prioritize dollars for the best business outcomes.

Still uncertain as to what project portfolio management is? Check out this PPM 101 video.

What is the difference between project management and project portfolio management?

Rest assured, this is a fairly common question that can be answered pretty easily. Project management is exactly like it sounds. It involves defining a series of tasks that must be completed in order to complete a project or manage a project to completion. Project management focuses on the tasks and techniques that are utilized to complete the actual project.

Project portfolio management is a bit more involved. True to its namesake, project portfolio management does involve managing all of the projects in a portfolio, but that is where the similarities end.

Project portfolio management aims at organizing, and prioritizing the resources, investments and initiatives that make up a strategic portfolio. Project portfolio management does not focus on how projects get done, but rather which ones should be done, should be funded and how those particular projects get prioritized within an organization.

What does a project portfolio management tool do?

Plan projects.

Ensure your projects and resources are aligned with the strategic plans of your business. Prioritize and shift initiatives across traditional, hybrid and agile teams to better react to market and customer demands.

Gain insights.

Leverage critical insights to analyze your investment and project portfolios for more strategic decision making across all areas of your business. Make winning decisions based on data, not hunches.

Deliver outcomes.

Reevaluate, reprioritize and evolve projects in midair. Link investments to product and application portfolios to quickly detect risks, dependencies and ROI opportunities.

CA Project & Portfolio Management helps teams succeed in every role.

Who benefits from a project portfolio management solution?

Project Manager

“I can see all work in one solution and dig into the details regardless of delivery model”

Resource Manager

“I can anticipate and plan for future demands and the incoming staffing requests.”

Finance Manager

“I can connect financial models & audits to delivery practices with ease.”

Executive Leader

“I can see progress, priorities, projects and investments on my phone.”

How to choose a project portfolio management solution?

Choosing the right solution for your organization can be challenging, but if you know what your key objectives are, then you are already ahead of the game. Picking the right option starts with identifying what your organization needs to accomplish at the strategic level. What do you need to do?

As a project, resource or finance manager you will have different needs than those of the executive leadership team. Generally speaking, most organizations need a project portfolio management solution to do some of the following things:  track multiple projects at one time, view investments across a portfolio of initiatives, provide easy visibility into business objectives and their prioritizations, as well as facilitate cross-team collaboration, time tracking and reporting.

Looking for more guidance on choosing a project portfolio management solution? Check out this webinar on the topic.

Why CA PPM is a best-in-class platform?

CA Project Portfolio Management (CA PPM) helps you plan for success. A single platform, available in the cloud and on-premises, CA PPM is built to quickly plan and track work across the entire company. By giving team members access to the right data, at the right time, in an easy format, you can manage the whole innovation lifecycle–from concept to cash.

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Essentials

All the PPM capabilities you need to manage your business and IT strategy. 

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Enterprise

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