Medium and large enterprises tend to waste energy and resources by proverbially “spinning their wheels”. There has been a large trend in business in the last 20 years towards projectisation. This trend establishes the fact that businesses are better organized around specific projects. These projects reflect the priorities of the business and as such require resources. However as business grows multiple projects across the entire organization require both independent management and oversight to achieve maximum productivity. It is at this point that a lot of productivity is wasted on him proper scheduling of both manpower and physical resources across multiple projects within a portfolio.
PPM is a centralized management process meant to enhance the management of multiple projects across a portfolio ensuring best use scenarios for labor and resources in order to complete projects in the most efficient manner. PPM is based on measuring a number of key performance indicators well at the same time accounting for constraints imposed by clients, external forces or corporate strategic objectives. This formalized framework enables to subsets within a corporation to effectively work together to minimize productivity loss. The first is the top level of an organization, the executive branch which is responsible the tactical and strategic value of projects and their priority placement. The second subset includes the portfolio level management that makes decisions based on individual portfolio needs and ensuring project deliverables are finished on time, within budget and correctly.
Why PPM Software?
Software is become an integral part of PPM providing the daily ability to track and manage projects across portfolios with diverse needs and deliverables. There are multiple advantages to using PPM software. The first of which includes the ability of new employees, managers or executives to switch tasks and understand the state of the project rapidly. Great PPM software provides an overall picture as well as task level objectives giving great instant information. PPM software provides an incredible tool to ensure all objectives within a project are met especially over the development of multiple projects in instituting corporate level strategic goals within each project. Reporting and tracking within PPM software ensures objective status reports for upper-level and executive management. PPM software further ensures the intellectual copyright of a company remains with the company if individual employees, known as knowledge centers, leave the business. Also being able to provide immediate and detailed planning to clients based on PPM software modeling allows amazing marketing capabilities. PPM software and its purchase should be carefully considered as it is not a miracle pill. It with due diligence it can provide long-term stability for planning and productivity efficiency.
Areas of PPM
PPM software should provide an all encompassing solution for most project portfolio planning management tasks. Great PPM software includes a number of aspects that can be incorporated into decision-making and task oriented plans. It is up to the business to include as much or as little of these tools as is necessary for their business. The PPM software chosen should provide an overall plan for each project with detailed task assignments, timelines and links between dependent tasks and resources. One of the most essential parts of the software should include task management which can assign tasks, offer reporting on their completeness, create a deadline, the ability to share tasks amongst different labor resources and provide alerts to management when the task is complete. The software should be able to manage a central repository of documents needed for the task and available to all stakeholders for the task or project. Inability to manage issues or bugs on the fly in the project design process is an essential tool. Lastly the software should provide time tracking ability to enable future projection and reporting functionality.
Ensuring your PPM software is able to plan and effectively manage labor, time and physical resources within a project and across an entire portfolio is essential to effective business management. Your PPM software should be flexible and have the ability to forecast labor shortages or excesses to effectively manage productivity and reduce wastage.
Written by Manfredi Bargioni of Hydra Management, a UK based resource management software company company that optimizes resource utilization.