Project portfolio management (PPM) software aims to help businesses align their project workload, helping them to meet strategic goals and can make the lives of project managers and executives much easier.
PPM software allows you to reduce and schedule projects on a manageable level, giving you control of all the project activities. It helps you to find the most efficient ways to reduce the amount of money, time and resources spent on each project by sorting them in levels of priority depending on their strategic value, financial gain and its impact on resources.
Can it improve a business?
The basis of PPM is to make your business more organised and efficient while handling a large amount of projects and tasks with only a limited amount of resources. The first step to take is to create an inventory of all of your project profiles. Then you can begin to consider a strategic way of organising each project in terms of priority assessing the amount of time, money and resources each will use. This will help you to create a well-balanced list of supported projects.
However successful project portfolio management requires regular attention by creating well-documented project plans, precise information about the amount of resources each project will consume and an accurate estimate of the amount of time and money spend on each project. It helps to decide who will participate as the project managers to oversee each project portfolio process. They can then agree on a set of criteria for initial values of each project in order to prioritise them.
Total project control
It uses periodic processes to approve and update the priority of projects, tasks and resources for you, giving you total control of your projects with a range of benefits.
1) The software allows you to become more organised and efficient by being able to remove, add and sort your tasks from each portfolio based on their benefit, cost and alignment with the customers’ needs
2) Stay in control of all of your customer projects while keeping the likes of resources, time and cost to a minimum.
3) Have the freedom to allocate resources and maximise the value of each portfolio with key objectives including profitability and acceptable rise.
4) Finally PPM software allows you to balance your projects, giving each team enough time and funding to ensure each project is finished on time.
Project portfolio management software specialists Atlantic Global is a leading provider of project management software to improve the delivery and communication of projects within business.
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