Two-thirds of organizations use a home-grown PPM solution. Here’s a better way to do it.
As portfolio owner, you’re responsible for project portfolio management (PPM) activities, including:
Supporting the intake of new project requests.
Maintaining the backlog of required projects.
Reporting progress of in-flight projects.
Ensuring projects receive management support.
You need tools and procedures to support these responsibilities, but low adoption shows that commercial PPM tools are difficult and costly to implement.
Two-thirds of Info-Tech clients use a home-grown PPM tool. The largest segment of the market uses Excel. Only 16% use a commercial PPM tool, and 17% don’t have a PPM solution at all.
Increasingly diverse project methodologies and styles within organizations (i.e. variations of Agile, Waterfall) make it very difficult to manage them rigorously in a command-and-control model. PPM processes and tools should be capable of managing high-level project capacity, status, risks, and costs without dependency on timesheets.
Organizations often fail at PPM when updating and maintaining data in the tool becomes the end in itself.
Impact and Result
Reclaim capacity through more effective project prioritization and resource optimization.
Ensure the portfolio is regularly updated with timely, accurate, and useful data.
Communicate more effectively with stakeholders, executive sponsors, and project managers.