Project Portfolio Management (PPM) tools have been used in project management offices (PMO) for years to manage project requests, select projects to execute, predict resource needs, and manage project execution.
Today, senior managers and executives sitting above the PMO are demanding more of their PPM solutions. They need assurance that the portfolio of projects being selected support the organization’s strategic objectives and will deliver the greatest overall value to the business.
While managing the execution of projects remains firmly with the PMO, selecting the optimal portfolio of projects to execute now needs to involve business leaders and senior management. As a result, a new breed of portfolio management solutions is arising that focuses on:
- Strategic alignment of project portfolios
- Optimization of portfolio value
- Resource planning and management
- Decision making across organizational divisions
Gartner has published some interesting research that talks about the different types of PPM tools that can exist across an organization. They position portfolio management tools for senior managers and executives as “Dynamic Portfolio-Level PPM Tools“—at the Apex of the PPM ecosystem in an organization:
Gartner PPM Product Usage Reference Model
Gartner, Maximize Value and Avoid Waste by Managing PPM Tool Proliferation in Your Enterprise. Daniel B. Stang, 23 May 2017.
Organizations that manage critical infrastructure, such as energy & water utilities, face unique challenges when it comes to selecting which projects to execute. Their physical assets continuously degrade with time and unexpected failures can have profound consequences on society and the environment. Decisions about what to invest in, and when, are critical. Businesses must balance risk, performance, and cost, while ensuring the safe and reliable delivery of their services.
The Copperleaf Product Suite: Enterprise Portfolio Management
The Copperleaf Suite provides dynamic portfolio management specifically suited to the needs of organizations managing large numbers of physical assets. The solution uses the Copperleaf Value Framework as the basis upon which to make portfolio-level decisions. This framework is configured to each organization’s unique strategic objectives, definitions and quantifications of risk, and view of what contributes value.
The Copperleaf Value Framework, together with the Copperleaf Suite's optimization algorithm, allow organizations to easily determine the optimal portfolio of projects that will deliver the greatest value, while respecting all constraints. Advanced resource planning and management capabilities ensure that plans make optimal use of the available resources and manage resource requirements into the future.
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