Managing project dependencies (or interdependencies) is an often-missed tactical capability of project portfolio management (PPM). Yet, managing project dependencies is an important part of portfolio planning so as to tactically coordinate project execution. Successful management of project dependencies can reduce the risk of delayed projects, friction between projects, and the duplication of effort. In our article on portfolio planning, we briefly covered that in order to optimize project execution we need the right sequence of projects. In order to properly sequence the projects in the port ..read more

Work Intake (Demand Management) Overview and WHY it is important Work Intake (also known as demand management) is perhaps the most critical component of project portfolio management because it determines the composition of the portfolio (in terms of quality, value, balance, and resource utilization).  Organizations with a broken work intake process will have a compromised project portfolio and likely suffer from poor project execution. In a previous article we provided a holistic overview of the topic of work intake and in this article we will share our best practices for implementing an ..read more

There is no question that we are in the midst of radical changes to our workplace and society due to the mainstream emergence of Artificial Intelligence (AI) and Machine Learning (ML).  Experts have been predicting for several years how AI will change the way we work. With the public arrival of ChatGPT at the end of 2022, these changes are accelerating and organizations need to be ready sooner (not later) to begin utilizing this technology to improve work. While there has been some research into how Artificial Intelligence (AI) and Machine Learning (ML) will change project management, th ..read more

In this guide we will break down in detail the difference between a PMO and an EPMO. In order to do this, we will go in-depth to review what a PMO is, what it does, what the benefits are, and the different types of PMO’s. From there we will cover what an Enterprise PMO is and does and provide an organizational structure between PMO’s and EPMO’s. What is a PMO? Organizations that rely on project and program management to deliver critical products and services often set up what is referred to as a PMO. The acronym PMO is typically used for a “Project Management Office”, but as we will see, the ..read more

A common but misunderstood question related to project portfolio management is “what is a Project Portfolio Manager?” and “what does a Project Portfolio Manager do”? Most articles get this wrong because it is discussed from a theoretical point of view, not based on actual practice. As we will see, we cannot make the simple translation that because Project Managers manage projects, Portfolio Managers must manage portfolios – it’s not that simple. In the world of project and portfolio management, several roles are involved. The Project Manager role has been analyzed in depth, and we will briefl ..read more

Project portfolio management is a senior leadership discipline to accomplish strategic goals and maximize business value through its project investments. It’s about doing the right work. A portfolio is a collection of projects and programs. Therefore, if you want to manage the portfolio, you need to know what is in the portfolio. Hence, the most fundamental task in portfolio management is to create a project list. The first step in starting project portfolio management at your company is to inventory all of the project work going on. You cannot manage what you cannot see, and that’s why you n ..read more

Strategic planning and project planning are common topics, but very few companies do an adequate job of portfolio planning. Project portfolio management is about strategic execution with the goal of maximizing business value delivery. Successful portfolio planning synthesizes what the company or organization aims to achieve at the strategic level and helps select projects at the tactical level that will fulfill those strategic goals. In this post we will cover the primary elements of portfolio planning and how you can incorporate it into your existing portfolio management processes. Three lev ..read more

Introduction to Capacity Planning Resource capacity planning is one of the most commonly cited functions of project portfolio management. Senior leadership rightly wants to understand whether they have adequate resources to take on more project work and whether their existing work will get done on time. Most companies recognize the scarcity of resources to do project work and thereby look for portfolio capacity views to answer these two important questions: 1) When can we take on new projects? 2) Can we get our existing work done? As we have covered in our earlier article, resource capacity p ..read more

The Difference Between Project Management Software and Portfolio Management Software What is the difference between project and portfolio management software? Project Management Offices are looking at these types of software all the time and it is critical to understand the difference. Let’s begin with definitions of project and portfolio management to help level set. According to Michael Hannon, a good definition of a ‘project’ is “an investment in time and resources undertaken to generate maximum positive impact”. ‘Project Management’ then is “the application of knowledge, skills, tools, an ..read more

Introduction to Project Portfolio Optimization Project portfolio optimization offers the promise of generating and delivering the maximum possible business value from the company’s project portfolio. By using data and advanced analysis techniques, organizations can often generate more business value (+20%) with the same budget and resources as they can using manual processes. Project portfolio optimization stems from financial portfolio management theory and is one of the most advanced processes of project portfolio management. To optimize means to “make the best or most effective use of a si ..read more