Project Portfolio Management (PPM) is a set of business practices and processes that help an organization prioritize and align the work it preforms to its strategic objectives. Understanding your business goals and implementing the right processes to effect those areas is key to QuantumPM's consulting philosophy.
QuantumPM has consultants with in-depth experience who can help you decide on and implement the business processes that will provide the most benefit. No organization can implement everything at once but we can help you prioritize your needs and execute changes that will bring timely, real world results. We’ve been doing this for many years so let us help you implement your PPM processes successfully.
Using repeatable processes - simple workflows, common tools and standard approval cycles, - makes an organization more efficient and less mistake-prone. It means that anyone in the organization knows what to do and when to do it. Heroics are no longer required to get things done.
At QuantumPM, we look at three major categories of PPM business processes: Governance, Project Management Practices, and Continuous Improvement.
The ABC's of Governance
Align project concepts and requests with business goals. Make sure the organization understands and works on the right things.
Business Cases, Budgets, Benefits
Before a project is approved for funding, analysis is done to determine the cost and benefits. The level of detail in the analysis will vary with the complexity of the project and with the criteria needed for systematic review.
Charter the right set of projects with the budgets and resources required for success. Optimize your portfolio by using best practices such as the "Efficient Frontier" to make the best decisions for your business. Monitor the projects throughout their life cycle to ensure they perform to plan.
There are several internationally respected organizations that have created standards and methodologies for good project management. PMI Standards, PRINCE@, and Agile are examples of different approaches for different needs. The QPM team has worked with all of these standards and has also developed its own best practices to blend the best of processes with the best of software technologies. Our team can help you integrate your own requirements with industry standards so you find the workflow and methods that work best for you.
Read more helpful tips on project standardization on our Blog
Fact-based decisions are easier with real-time reporting and a clear understanding of what's going on with your projects. Establish metrics to measure what is important to you, for example: Commitment to/participation in the best practices, performance against goals. It's also critical to establish methodology to ensure metrics are analyzed and improved at regular intervals.