Project Portfolio Management does not offer a mag ical solu- tion that eli mi nates all chances of engaging in an unsuitable or costly project. What it does is clearly outline how to classify, assess, prioritise and select project investments
Bassam Samman
nication, problem solving, negotiating and cooperative skills of each member. It is thus no wonder why organisations following the same professional PM prac- tices report varying results; the success and failure of their undertakings were ultimately decided by the character of the team assigned to the project.
BUILDING THE CASE FOR PPM
Project managers share the common desire to deliver projects on time and within budget; they also want to work on projects that are perceived as valuable and thus receive strong support throughout the organisation. While PPM can easily help managers achieve these visions, what if there is currently no PPM structure in place? How can they convince decision makers to implement PPM?
1 Read the signs
There are several signs that project- driven organisations need to adopt PPM. These include substantial delays in project implementation due to lack of resources; difficulties in assembling enough people to come up with a good project team; high turnover due to the inability of individu- als to keep up with several projects and long working hours; inter-departmental competition for staffing and funding; and frequent changes in project status. These should be carefully observed and then properly documented.
2. Explore and fully understand the PPM paradigm
Project managers should discuss how their peers apply PPM in their own companies. They should also visit online sites on PPM, read up on PPM literature, and communi- cate with PPM system vendors.
3. Document resource requirements and discuss with senior management
Managers can gather materials and prepare documentation on well-detailed project plans; targeted and actual hours spent per task and activity; and improper resource allocation. They can then create assessments on how PPM could have prevented problems and ensured more efficient delivery.
4. Suggest the internal adoption of PPM
After arming themselves with extensive data and making their own evaluations, project managers can propose the estab- lishment of PPM within their organisation.
THE PPM EDGE
Many organisations suffer from symp- toms of an unbalanced or undefined project portfolio, yet do not know it. By embracing PPM, enterprises become fully enlightened on the risks posed by each project they consider and are more able to make sound decisions. This PM process determines the optimal
combination and sequencing of prospec- tive projects so that an organisation’s overall goals are met while upholding management parameters and real-world constraints. PPM gets rid of many frustra- tions associated with haphazardly planned projects so that developers and managers can get ahead in today’s highly competitive, project-driven businesses.
The views expressed by our guest columnists are not necessarily shared by Cityscape magazine or its team
apr-may 2010
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