A group of portfolio managers have been challenged with ensuring that the projects executed in the project management office (PMO) have high-quality outcomes that are aligned to a business’s key objectives. The portfolio managers analyzed the current state and found that there was no consistent approach to prioritizing incoming projects, creating portfolio-level reports, and ensuring that a consistent set of deliverables were followed by project managers. As a result, the portfolio managers agreed to implement enterprise project portfolio management (EPPM).
Managing projects within a portfolio perspective enables a greater degree of control on the resources, priorities, realized benefits, risk, and project quality. EPPM scrutinizes the inputs into the portfolio planning and reviews ongoing project outputs, along with the use of resources. Without EPPM, the organization’s strategic objectives may not be executed optimally through efficient use of resources and investment. Also, projects in progress may lack management oversight to key stakeholders, which results in the inability to correlate project investment of time and resources to realized benefits.
By implementing EPPM, the portfolio managers increased the quality of the project outcomes and strengthened the alignment between the projects’ objectives within the portfolio and the organization’s strategic objectives. Also, the PMO noticed enhanced benefit realization and greater visibility of financial and schedule reporting information.
As a stakeholder within a PMO that oversees a set of projects and project managers, have you wondered how to better align project goals and strategic objectives, manage project resources, and reduce project risks? Do you know when to de-prioritize a project based on the enterprise’s objectives or how to ensure that projects serve the organization’s key objectives? The Accenture Academy course Analyzing Enterprise Project Portfolio Management (EPPM) uses a real-world, case-based scenario to help you identify the life cycle, application techniques, and ability of EPPM to deliver successful projects.
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