Project Portfolio Management in Theory and Practice (Best Practices in Portfolio, Program, and Project Management)

Price: $59.95
(as of Dec 13,2024 15:56:40 UTC – Details)

Publisher ‏ : ‎ Auerbach Publications; 1st edition (June 13, 2022)
Language ‏ : ‎ English
Paperback ‏ : ‎ 316 pages
ISBN-10 ‏ : ‎ 1032339896
ISBN-13 ‏ : ‎ 978-1032339894
Item Weight ‏ : ‎ 12.8 ounces
Dimensions ‏ : ‎ 6.14 x 0.72 x 9.21 inches

Project Portfolio Management in Theory and Practice: Best Practices in Portfolio, Program, and Project Management

Project Portfolio Management (PPM) is a strategic approach to managing an organization’s projects in a coordinated and efficient manner. It involves selecting and prioritizing projects that align with the organization’s goals and objectives, as well as optimizing resources and monitoring progress to ensure successful outcomes.

In theory, PPM is designed to help organizations make informed decisions about which projects to invest in, how to allocate resources, and how to manage risks. By taking a holistic view of the project portfolio, organizations can better balance competing priorities, reduce duplication of efforts, and maximize the value of their investments.

In practice, implementing PPM requires a combination of tools, processes, and people. Best practices in portfolio, program, and project management include:

1. Establishing clear goals and objectives: Clearly defining the strategic objectives of the organization and aligning projects with these goals is essential for effective PPM.

2. Prioritizing projects: Using criteria such as strategic fit, ROI, risk, and resource availability to prioritize projects can help organizations make informed decisions about which projects to pursue.

3. Balancing the portfolio: Ensuring a balance of projects that address short-term and long-term goals, as well as high-risk and low-risk initiatives, can help organizations manage risk and maximize return on investment.

4. Monitoring and controlling: Regularly monitoring project progress, identifying risks and issues, and taking corrective action as needed can help organizations stay on track and achieve their desired outcomes.

5. Continuous improvement: Regularly reviewing and updating the project portfolio based on changing priorities, market conditions, and organizational goals can help organizations adapt to changing circumstances and stay competitive.

Overall, successful PPM requires a combination of strategic vision, effective governance, and strong project management capabilities. By following best practices in portfolio, program, and project management, organizations can improve their project outcomes, optimize resource allocation, and achieve their strategic objectives.
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