Question

What is the desired result of applying project portfolio management? Specifically you should address:

• What are three or four common issues that a PPM is trying to resolve?
• Does project management maturity play a role in how effective PPM is? Why?
• What does success look like when using project portfolio management?

Pay careful attention to grammar, spelling and punctuation.

Answer 1

Three or four common issues that a PPM is trying to resolve is selecting and managing projects as per the organizational and business goals. It optimizes the use of organizational resources by collecting and managing data. It addresses the issue of resource allocation and prioritizing the investments, skills, capabilities required for the projects most relevant to strategic goals of the business. PPM enables sharing of information related to various projects and aligning to goals and objectives of the organisation.

Project management maturity plays a role in effectiveness of PPM as it build consistency in organizational processes and helps in managing the project management process for continuous improvement of the practices.

The success of project portfolio management looks like having the accurate information about the projects, knowledge of the organizational priorities and aligning the goals of the projects with the goals and objectives of the business. This provides a centralise management of projects and allocation of resources for best performance and returns on investment. It provides flexibility, less risk and indication about the future requirements for the projects in a systematic manner.