Because project management requires both technical and communication skills, a Project Portfolio Management tool is essential. 72% of Chief Information Officers struggle with balancing operational excellence and business innovation. Project Management Offices are growing in popularity as project competiveness becomes more important in winning new business. PMOs work best when processes and PMM complement one another.
Strong PPM processes can influence adaptability to market shifts that could impact the direction of the business. It demonstrates the characteristics that governance, resource optimization, and project prioritisation. The Project Management Office’s ability to identify and implement a viable PPM system is evident in aligning projects with the enterprise’s business vision and maximising profit. Five strategic tips are provided to help global project managers streamline their processes.
1. The Process Vs. Methodology Debate
There is no one method that will work for all businesses. As your business grows, it’s important to streamline the project process by creating a custom process. The methodology used will vary depending on the service being provided and the business line. This means that what works for one organization might not work for another. Agile values interactions over processes. However, organisations are more benefited by the permanence of processes than their benefits.
Methodologies can go wrong, just like they did in the past. This can leave you and your project in an awkward position. A process is a series of steps that evaluates, implements, and delivers projects according to a particular methodology. This prevents impulsive and hasty decisions from negatively impacting Business As Usual activities.
A dedicated PPM tool integrates processes from the base level to create a framework in which a suitable methodology can be placed. It ensures that the methodology does not depart from the core of the process. This allows project managers to control every aspect of the project’s lifecycle.
2. Allocate Resources Optimally
Your people and their contributions drive your projects. The Aberdeen Group found that 75% of respondents didn’t have a detailed overview of how their resources were used beyond a month, according to a survey. This means that many projects don’t impress stakeholders because they don’t have enough resources. Optimizing resource utilisation is a long-term strategy that will allow you to get the most from your resources.
To complete your projects, you need to have the right resources available. You can instantly access the resources by optimizing your resource pool. This ensures that you don’t over- or under-use any resource. A PPM tool helps to prevent scheduling conflicts in the enterprise.
Optimized workloads enable your resources to use their skills to the maximum extent without being overwhelmed. This will increase your billable hours and allow you to generate more revenue. This ensures that no resource invests too much in projects that aren’t feasible.
3. Cooperative Collaboration
Poorly documented projects can cause a breakdown of the communication chain which can lead to poor business results and profitability. Your PMO should invest in a work environment that promotes team collaboration. Transparency is a key component in creating a cooperative environment.
Flat organisational structures encourage junior and senior staff to share their ideas for improvement. You can use the collective inputs to help you create strategies to improve your business processes. It makes it easier for you to make better business decisions.
5 Strategies to Strengthen your PPM Process