PROJECT PORTFOLIO MANAGEMENT
Project Portfolio Management (PPM) organizes a series of projects into a single portfolio consisting of reports that capture project objectives, costs, timelines, accomplishments, resources, risks and other critical factors. Executives can then regularly review entire portfolios, spread resources appropriately and adjust projects to produce the highest departmental returns. The premise behind PPM is the theory that an enterprise can manage its projects as an investor would manage a portfolio of investments. By managing the enterprise's projects as a portfolio, executive management can understand critical project factors, such as risks, costs, productivity, dependencies, and effectiveness.
Beyond the inherent need in virtually every large enterprise to streamline and reduce maintenance costs, the major drivers accelerating PPM adoption include:
- The need for Project knowledge to respond to regulatory mandates for data privacy, such as the Sarbanes-Oxley Act and the Health Insurance Portability and Accountability Act;
- Pre-contract negotiation and post-outsourcing monitoring; and
- PPM's eventual melding with other portfolio management disciplines, such as Product Portfolio Management, Risk Portfolio Management, Service Portfolio Management, and much, much more.
KnowIT for Project Portfolio Management
The KnowIT platform is ready to act as your Project Inventory solution. It's Project Management module allows enterprises to catalog and track each and every product in their organization. With the KnowIT platform, enterprises can now:
- Understand and manage all Projects across all organizations within your enterprise, regardless of region
- Track critical Project factors, such as severities, complexities, impacts and much more, allowing your enterprise to easily understand what Projects are most important to your enterprise and its stakeholders, world-wide
- Manage and publish Project strategies, allowing stakeholders, world-wide to easily see and understand the intent for each Project
- Track and manage Project dependencies, between Projects and other Projects, Products, Assets, Resources, Organizations, Locations, Documentation, and much, much, more
- Track and manage Project lifecycles and their related states
- Easily create and publish reports that help dimensionalize your Project portfolio according to what is important to its stakeholders
- Easily chart and graph characteristics of your Project portfolio, without leaving the platform
- See elaborate visualizations that highlight dependencies that are critical for managing your portfolio
- Track and manage your Project costs by understanding costs of the Projects, themselves, and associated dependencies that are typically hidden from conventional management practices
With KnowIT, you and your enterprise can now see what it owns, world-wide, and can easily access and manage critical information that helps manage its costs, productivity, quality, and ultimately its revenue.