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.