Strategic Project Portfolio Management
Benefits Realisation Management
Project Portfolio Management
The market is saturated of several software for PPM – Project Portfolio Management, but a few packages will take teams from Strategy to Portfolio/Projects, combined to operations, process improvement and actual benefit realization.
There are some papers published regarding SPM – Strategic Portfolio Management, but that would be a subset of what we could call as PPM version 2.0, or S-PPM (Strategic Project Portfolio Management).
S-PPM is aligned to BRM – Benefits Realization Management (which is a strong approach to align projects, programs and portfolios to the company´s strategy).
It is true that some PMO (Project Management Offices) put a lot of effort into creating a strategic portfolio for a company and that is very helpful to increase the benefit realization of such projects that earn status and C-level support.
It is important to perceive that S-PPM is not just about developing a portfolio of strategic projects but getting teams of all projects in the company to better understand the company´s strategies and priorities, thus increasing the benefit realization opportunities found in those projects that were not previously classified as strategic.
It is also important to perceive that S-PPM is also about assisting companies into developing processes that will bring daily operations into supporting project initiatives.
A S-PPM system will:
- Empower BRM (Benefits Realization Management)
- Manage portfolios of projects (not just a portfolio of strategic projects)
- Integrate strategy to projects, portfolios, processes and operations
- Stablish workflows
- Manage corporate and project risks
- Integrate best practices of project/portfolio management to business needs
- Support business process modeling
- Optimize the use of shared resources across project initiatives and operations
- Improve company´s internal communication
- Establish benefits ownership and accountability
- Improve Sponsorship opportunities
- Manage Action Plans for multiple levels of initiatives, including process improvements
- PMI, Pulse of the Profession® : Sustain benefits to optimize business value (Newtown Square: Project Management Institute, 2016) and BCG analysis.
- PMI, Benefits Realization Management: Establishing benefits ownership and accountability (Newtown Square: Project Management Institute, 2016) and BCG analysis.
- PMI, Pulse of the Profession® : The Strategic Impact of Projects: Identify benefits to drive business results report. (Newtown Square: Project Management Institute, 2016).
- Liberzon, V., Mello, P. B. S., & Shavyrina, V. (2008). Project management tools for modern project and portfolio management. Paper presented at PMI® Global Congress 2008—Latin America, São Paulo, Brazil. Newtown Square, PA: Project Management Institute. ORG – Library