Project Portfolio Management at an Organization

630 Words3 Pages
Q1. PPM at a current organization Project Portfolio Management (PPM) is defined as "a set of business practices and a process that allows organizations to manage projects as a strategic portfolio, ensuring the alignment of programs and projects with organizational objectives" (PPM, 2013, University of Wisconsin School of Business). PPM has several major advantages over generalized portfolio management. Just because a project seems enticing does not mean it is the right project for the organization at a given point in time. Managing projects as a portfolio ensures that when projects are selected they do not interfere or conflict with other projects. At my previous organization these types of conflicts were often a problem. Members of the organization would act like 'kids in a candy store,' taking a wide variety of projects that seemed worthy, but did not use the current, available resources of the organization to their maximum advantage. If there is too much overlap between projects, not enough resources are free to devote to the success of individual projects. If there is not enough overlap between projects, then there is not enough in terms of economies of scale or a good fit of the skill sets of the persons working at the organization with the projects. Projects must be evaluated holistically, not just individually. PPM also creates a culture of feedback regarding projects. "Executives need to regularly review entire portfolios and programs, determine why projects are
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