What is PPM tool in project management?

Project Portfolio Management (PPM) is a critical part of business planning that helps project managers measure the potential revenue of a future project before getting off the ground. Leveraging a PPM tool gives companies the data they need to put the pieces of a project together before making any risky decisions.

What types of project portfolios are used by companies?

Three General Types of Portfolios

• Value creating: Strategic or enterprise projects.
• Operational: Projects that make the organization more efficient and satisfy some fundamental functional work.
• Compliance: “Must-do ” projects required to maintain regulatory compliance.

What is a portfolio management tool?

What Is Product Portfolio Management Software? Product portfolio management tools are a way to easily glance across all the products or services you and your team offer in order to better manage, organize, and analyse them. Product portfolio management software may track product growth prospects and operational risk.

What is a portfolio project manager?

Portfolio managers work to optimize their project portfolios, balance capacity against demand, and connect plans and resources to project execution. In some organizations, project managers, program managers, and portfolio managers work in or with a group or department called a Project Management Office (PMO).

What is Project Portfolio Management with example?

According to the Project Management Institute (PMI), project portfolio management is the “centralized management of one or more portfolios that enable executive management to meet organizational goals and objectives through efficient decision making on portfolios, projects, programs, and operations.” Essentially, you …

What tools techniques are available for managing different types of project portfolios?

Key tools and techniques include:

• Stepwise regression.
• Mathematical modeling.
• Bootstrapping.
• Influence diagrams.
• Decision analysis (DA)
• Multi-objective decision analysis (MODA)
• Portfolio decision analysis.

What is a project portfolio management process?

PPM is defined as the centralized management of processes, methods, and technologies used by project management teams to oversee and evaluate existing or proposed projects, based on several criteria. In short, it provides all the visibility executives need to make informed decisions about anything related to projects.

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