PPM In Tough Times

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PPM In Tough Times
Demian Entrekin (June 16, 2008)

When economic times get tough and streamlining becomes a priority, project portfolio management, in one form or another, becomes a necessity. Here are five ways PPM can help organizations do more with less.

When economic conditions get tough, leaders look for ways to control costs and do more with less. One way is to rein in project budgets, and this effort usually starts by analyzing the project portfolio to understand answers to basic questions: What are the current projects? What projects can be trimmed or cut? How can we do more with less and better focus our resources and energies?

Many companies are finding that an effective way to evaluate the entire project portfolio and control costs is to use a project portfolio management (PPM) solution. PPM solutions make it much easier to look at projects as an aggregate collection of expense buckets to determine where excess fat can be trimmed. For example, with PPM, organizations can more easily determine which projects add the most value to the business, and find areas where they can eliminate duplication of projects and effort.

“In tough economic times, leaders need to streamline the project portfolio in order to get leaner while still maintaining their ability to produce value,” says Keith Carlson, CEO of on-demand PPM vendor Innotas.

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