How does your company currently balance operational and strategic project work? In our experience, project-intensive organisations need regular project portfolio analyses to achieve an optimal balance. This is the only way to ensure the best possible use of resources along with a focused target strategy.
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The professionalisation of project management organisations can be significantly advanced by introducing a project management office or project portfolio management software. Further training in project management methods also increases staff efficiency. In combination with the necessary time resources and structural framework conditions for strategic reflection and control of the project portfolio, you hold all the trump cards!
With PPM software, you get indicator-based project portfolio analyses at the push of a button. If the data collection in your project work is reasonably defined and all project staff contribute to it, you can effortlessly control your project portfolio strategically. The list of possible key figures is long: financial, process and personnel key figures can be continuously expanded by qualitative surveys such as customer satisfaction. Initially, it makes sense to focus on a few performance indicators in order to keep staff motivation to enter data constantly high. It is supported by visualisations of central key figures that put different projects in relation to each other. Classic management tools such as the balanced scorecard or PMO dashboards are your strategic cockpit that you definitely won't want to do without in your work in the future!
Fig: Balanced Scorecard - Project prioritisation
A project portfolio analysis is not limited to the evaluation of ongoing projects, but enables accurate decisions along the entire project life cycle, starting with idea and project selection. But objectivity is always a matter of perspective, and depending on which decision criteria are used, the result can be different. With PPM solutions, you can perform both simple and complex portfolio analyses:
A high level of maturity of digitised project organisation can be recognised by the fact that the increase in efficiency and value of operational project work can be measured and tracked. Regular project portfolio analyses create transparency and a solid discussion basis for demanding stakeholders.
Want to gain more insights into modern project portfolio management and see project portfolio analysis live in action? Then register now for the Capture On-Demand webinar with our PPM experts.
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