PPM 101: Get the Balance Right | ||||||||||||
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Home > Departments > PMO/EPM
Before lamenting a lack of funding and staff to pursue strategic projects, organizations should look at the resources being spent on discretionary enhancements. By including this work in the portfolio, you can better compare and allocate limited resources.
Done right, project portfolio management can do a lot of good for any organization. But it’s not easy, as many companies, large and small, have discovered. In PPM 101, an ongoing series by veteran project management consultant and author Tom Mochal, we focus on the fundamentals for organizations that are just getting started on the PPM path.
Portfolios can be defined to include all types of work. The portfolios that are described most often generally only include project work. These portfolios may also contain some support work, but if they do, it is generally for supporting some components of a large project while the rest of the project is still in progress. This model is commonly referred to as “project portfolio management.”
I believe projects are the foundation for your portfolio, but I also think they are too limiting.
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