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:

  1. Empower BRM (Benefits Realization Management)
  2. Manage portfolios of projects (not just a portfolio of strategic projects)
  3. Integrate strategy to projects, portfolios, processes and operations
  4. Stablish workflows
  5. Manage corporate and project risks
  6. Integrate best practices of project/portfolio management to business needs
  7. Support business process modeling
  8. Optimize the use of shared resources across project initiatives and operations
  9. Improve company´s internal communication
  10. Establish benefits ownership and accountability
  11. Improve Sponsorship opportunities
  12. Manage Action Plans for multiple levels of initiatives, including process improvements

 

References

  1. PMI, Pulse of the Profession® : Sustain benefits to optimize business value (Newtown Square: Project Management Institute, 2016) and BCG analysis.
  2. PMI, Benefits Realization Management: Establishing benefits ownership and accountability (Newtown Square: Project Management Institute, 2016) and BCG analysis.
  3. PMI, Pulse of the Profession® : The Strategic Impact of Projects: Identify benefits to drive business results report. (Newtown Square: Project Management Institute, 2016).
  4. 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