Integrate Portfolio Project Management System to streamline project management operation

Author: Star Plus

Project Portfolio Management is a term used by project managers and project management organization. It enables corporate and business users to set a project into single portfolio. Project portfolio management software refers the software product, enable user to easily manage and organize project. The software allows professional to review the portfolio and help them in making key financial and business decision for the project. Project portfolio management is all about managing multiple of projects. Each portfolio of the project should be treated as a whole and it need to be evaluated by its business value and adherence to strategy.

There are number of growing vendors offer great range of project portfolio management software that dramatically simplified the process of building a portfolio. The first step is for companies to prioritize the business strategies. Portfolio can be assembled and assessed based on the strategic need of an enterprise. Portfolio Project Management helps companies to determine the priorities of the business projects, so that they can break down the project work accordingly. Moreover, the team can be assigned to different business units and each of team handles various portfolios. Earlier, project were approved and managed independently. Project management software provides better handling of the project using executive dashboard and other such tools.

Working at portfolio level is working with summary or key data, so the Portfolio Project Management System is very essential to smoothen up the entire project management operation. The software helps in keeping every single details of the project at the project team level, managed by individual project managers.

Benefits and features of Portfolio Project Management System

  • Possibility to faster respond to changing conditions

  • Information is presented with different details for each management level

  • Portfolios can be constantly reviewed and changed to produce the highest gains

  • Dependencies between projects are easier to identify

  • Resource leveling is easier to be accomplished and gives real solutions

Strategy Execution software helps in managing skill, technique and group of project with the purpose of meeting the financial goal of the organization. It usually employs the structural approach for reviewing and altering the software execution program. There are many levels of project portfolio management process first is organization of project into discrete units and analyzing cost and other necessary resources. Second level is to take decision for achieving the project goal and third level is the analysis of metrics, tool and model for project management. Forth is optimization of the project and final is maintaining the core competency of the project.