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Ensure informed decisions and governance: by bringing together all project collaborators, data points, and processes in a single, integrated solution, a unified view of project, program, and portfolio status can be achieved within a framework of rigorous control and governance to ensure all projects
525:
An analysis of the risk sensitivities residing within each project, as the basis for determining confidence levels across the portfolio. The integration of cost and schedule risk management with techniques for determining contingency and risk response plans, enable organizations to gain an objective
645:
Build contingencies into the overall portfolio: flexibility often exists within individual projects but, by integrating contingency planning across the entire portfolio of investments, organizations can have greater flexibility around how, where, and when they need to allocate resources, alongside
534:
The roots of project portfolio management can be traced back to financial theories that emerged in the 1950s, often linked with the pioneering work of Harry
Markowitz, which was later recognized with a Nobel Prize. In essence, portfolio theories underline the importance of coordinating diverse
179:
Pipeline management involves steps to ensure that an adequate number of project proposals are generated and evaluated to determine whether (and how) a set of projects in the portfolio can be executed with finite development resources in a specified time. There are three major sub-components to
444:
With PPM, the Office of
Finance can improve their accuracy for estimating and managing the financial resources of a project or group of projects. In addition, the value of projects can be demonstrated in relation to the strategic objectives and priorities of the organization through financial
609:
Enterprise project portfolio management (EPPM) is a top-down approach to managing all project-intensive work and resources across the enterprise. This contrasts with the traditional approach of combining manual processes, desktop project tools, and PPM applications for each project portfolio
370:, features, functions, operational constraints, regulatory demands, and technical enhancements. PPM provides a central repository for these change requests and the ability to match available resources to evolving demand within the financial and operational constraints of individual projects.
668:
Understand future resource needs: by aligning the right resources to the right projects at the right time, organizations can ensure individual resources are fully leveraged and requirements are clearly understood. EPPM software also allows an organization to establish complete project
653:
Do more with less: For organizations to systematically review project management processes while cutting out inefficiencies and automating those workflows and to ensure a consistent approach to all projects, programs, and portfolios while reducing
649:
Maintain response flexibility: with in-depth visibility into resource allocation, organizations can quickly respond to escalating emergencies by maneuvering resources from other activities, while calculating the impact this will have on the wider
641:
Eliminate surprises: formal portfolio project oversight provides managers and executives with a process to identify potential problems earlier in the project lifecycle, and the visibility to take corrective action before they impact financial
535:
elements to mitigate collective investment risks. These theories enable the optimization of portfolio benefits, the effective utilization and cultivation of limited resources, and the proper consideration of portfolio stakeholders.
145:
activities to best achieve an organization's operational and financial goals, while honouring constraints imposed by customers, strategic objectives, or external real-world factors. Standards for
Portfolio Management include
618:
The PPM landscape is evolving rapidly as a result of the growing preference for managing multiple capital investment initiatives from a single, enterprise-wide system. This more centralized approach, and resulting
162:
PPM provides program and project managers in large, program/project-driven organizations with the capabilities needed to manage the time, resources, skills, and budgets necessary to accomplish all interrelated
630:
Prioritize the right projects and programs: EPPM can guide decision-makers to strategically prioritize, plan, and control enterprise portfolios. It also ensures the organization continues to increase
1102:
EPMC, Inc.; Michael J. Stratton; Mark
Wybraniec; Sarma Tekumalla; Mark Stabler; San Retna; Diane D. Miller; Michael Gosnear; Stephen Jenner; Michael Mee; Michael M. Menke (2009).
526:
view of project uncertainties. At the portfolio level, risk management enables organizations to protect portfolio investments and balance the level of risk in the portfolio.
171:, as well as the centralized visibility to help planning and scheduling teams to identify the fastest, cheapest, or most suitable approach to deliver projects and programs.
137:(PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal
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570:
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623:' for project and project portfolio information, provides the transparency of performance needed by management to monitor progress versus the strategic plan.
1165:
1143:
Kester, Linda; A. Griffin; E.J. Hultink; K.Lauche (2011). "Exploring
Portfolio Decision Making Processes". Journal of Product Innovation Management (28).
762:
665:
enterprise-wide: organizations can continuously vet project management processes and capture best practices, providing efficiency as a result.
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and effective deployment of an organization's resources where and when they are needed. These can include financial resources, inventory,
58:
1175:
1113:
1092:
Fister Gale, Sarah (2011), Prepare for the
Unexpected: Investment Planning in Asset-Intensive Industries, Economist Intelligence Unit.
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in an optimal manner. Project
Portfolio Optimization (PPO) is the effort to make the best decisions possible under these conditions.
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controls and to assess progress through earned value and other project financial techniques. It is an important part.
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Skaf, Mazen A. "Portfolio management in an upstream oil and gas organization." Interfaces 29.6 (1999): 84-104.
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1074:
Optimizing
Corporate Portfolio Management: Aligning Investment Proposals with Organizational Strategy
1072:
890:"Seven Decades of Project Portfolio Management Research (1950–2019) and Perspectives for the Future"
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reviews. Fundamental to pipeline management is the ability to align the decision-making process for
937:"Principles in Project Portfolio Management: Building Upon What We Know to Prepare for the Future"
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and selecting new capital investment projects with the strategic plan.
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and the PfM² Portfolio
Management Methodology by the PM² Foundation.
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the flexibility to adjust those resources in response to a crisis.
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Project
Portfolio Management: A View from the Management Trenches
638:- adding value, strengthening performance, and improving results.
278:' resource scenarios, and extend this view across the portfolio.
125:) is the centralized management of the processes, methods, and
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Management Square, What is Project Portfolio Management ?
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The Standard for Portfolio Management – Fourth Edition, 2017
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Succeeding with Use Cases: Working Smart to Deliver Quality
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Project Portfolio Management: Leading the Corporate Vision
818:
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Rajegopal, Shan; Philip McGuin; James Waller (2007).
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626:The key aims of EPPM can be summarized as follows:
167:. It provides a framework for issue resolution and
46:. Unsourced material may be challenged and removed.
935:Hansen, Lars Kristian; Svejvig, Per (2023-06-07).
888:Hansen, Lars Kristian; Svejvig, Per (2022-04-12).
982:Wyzalek, John; Marnewick, Carl (2023-04-20).
8:
712:. Unsourced material may be challenged and
658:consistently adhere to business objectives.
577:. Unsourced material may be challenged and
530:The history of project portfolio management
493:. Unsourced material may be challenged and
412:. Unsourced material may be challenged and
326:. Unsourced material may be challenged and
234:. Unsourced material may be challenged and
763:Comparison of project-management software
732:Learn how and when to remove this message
597:Learn how and when to remove this message
513:Learn how and when to remove this message
432:Learn how and when to remove this message
346:Learn how and when to remove this message
254:Learn how and when to remove this message
106:Learn how and when to remove this message
819:"PfM² - Portfolio Management Guidelines"
788:
744:A key result of PPM is to decide which
539:Enterprise project portfolio management
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1121:
865:"PPM 101 - Portfolio Risk Management"
7:
710:adding citations to reliable sources
575:adding citations to reliable sources
491:adding citations to reliable sources
410:adding citations to reliable sources
324:adding citations to reliable sources
232:adding citations to reliable sources
44:adding citations to reliable sources
1045:. Basingstoke: Palgrave Macmillan.
14:
1166:Information technology management
1024:. Boston, Mass.: Addison-Wesley.
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31:needs additional citations for
863:Washington, Tim (2022-05-05).
674:Project portfolio optimization
55:"Project portfolio management"
1:
839:"Project Pipeline Management"
807:Management of Portfolios Wiki
778:Project management simulation
184:, work intake processes, and
152:Office of Government Commerce
148:Project Management Institute
119:Project portfolio management
773:Project management software
621:single version of the truth
1202:
1176:Project management by type
941:Project Management Journal
894:Project Management Journal
452:
285:
135:project management offices
953:10.1177/87569728231178427
906:10.1177/87569728221089537
614:Business drivers for EPPM
1020:Denney, Richard (2005).
141:mix for delivery and to
1186:Management cybernetics
1071:Sanwal, Anand (2007).
758:Aggregate project plan
1181:Corporate development
994:10.1201/9781003315902
366:that can include new
180:pipeline management:
985:Portfolio Management
706:improve this section
571:improve this section
487:improve this section
406:improve this section
374:Financial management
320:improve this section
228:improve this section
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175:Pipeline management
1171:Product management
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1155:Categories
1063:2006-12-19
874:2024-04-17
869:Acuity PPM
849:2018-11-18
824:2022-04-10
784:References
190:estimating
186:Phase-Gate
66:newspapers
1124:cite book
1108:. Wiley.
1077:. Wiley.
969:259601482
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307:does not
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