Project + Portfolio Management: Mapping + Managing a Project from Inception to Implementation

Prior to starting any type of project, an organization must ask themselves the following questions:

  1. Is there a clear plan in place outlining the project’s scope and goals?

  2. What processes are set up to analyze its financial impact?

  3. What are the processes to determine the budget and schedule?

  4. Do you have access to the right resources to complete the project?

  5. Are there ways to assess the project’s strategic value?

  6. What is the risk if the project does not move forward?

  7. Is the proper stakeholder assigned?

  8. Is there an executive sponsor for the overall success of the project?

With so many technical requirements and user demands to focus on in the IT landscape, Project & Portfolio Management (PPM) provides organizations with standardized processes for examining a project’s cost-benefits, mitigating/reducing risk factors, and managing delivery from inception to implementation efficiently, safely, and successfully. By using a PPM solution, organizations can coordinate potential and current IT projects effectively, delivering projects on schedule, on budget, and without overwhelming internal resources during their lifecycle.

A Reliable Decision-Making Playbook

For project selection and decision-making, PPM offers a coherent, transparent method to prepare, develop, and deliver a project, optimizing how operations stage and execute initiatives of different sizes and complexity. Leveraging a fully realized project management solution gives an organization the ability to analyze the project’s financial impact, its overall value to the organization, and assess the variety of components required for completion, informing stakeholders of the resources, time, and phases required from project inception to completion without sacrificing quality. It provides organizations the ability to analyze, track, and manage all ongoing projects with a tested, systematic methodology of determining the right investment decisions to achieve your organizational IT vision in an efficient manner.

The Right Staff on the Right Task

PPM’s true benefits are from a demand management perspective. For example, an organization has the requirement to refresh 50 computers, which requires five technicians—PPM helps assign resources based on future needs, incorporating the employees’ talents, schedules, and current hours of availability. Once the organization is able to identify each individual’s availability, the system will prioritize who is available each day, and align their skillsets to specific tasks, taking into consideration the total estimated hours to complete a project while realizing how taxed the staff might be in relation to all the other future commitments.

Business Needs & Strategic Objectives

PPM’s capabilities can effectively focus on projects outside of IT. From a strategic objective perspective, any project classified as a business need can be mapped, scored, and tracked using the same PPM solution. Whether looking to improve customer satisfaction, analyze potential purchases, evaluate the adoption rate of product functionality/features, weigh a significant operational change, or identify high-value priorities, organizations can define the requirements of their business needs more easily, designate resources based upon workload, and budget accordingly using forecasts based on organizational strategy and compatibility. This process also allows an organization to be proactive and detect changes and risks in advance, reducing overall risk exposure and the risks of financial impact. In addition, throughout the project’s lifecycle, organizations can monitor project status more accurately, determining what has been accomplished and what remains to be completed while ensuring the project remains on schedule and budget.

For a deeper dive into PPM, Flycast Partners is available to demo these technologies and explain further how this cost-conscious approach can help support project goals and overarching IT objectives, reducing, or eliminating the challenges associated with mapping and managing a project from concept to reality.

By Dean Pierce | July 10th, 2021 | 0 Comments