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Project Portfolio Management

Updated: Jul 10

In many companies, several projects are running for different internal and external customers. But resource planning always presents challenges. Many companies sooner or later set up a project portfolio management. For the simple reason to have more control as well as an overview of the resources within or necessary procurement in the future.

Effectiveness and efficiency are here the drivers and promises that a project portfolio, if done right, can bring. But innovation within the projects and enterprise can also benefit.

Disclosing how projects dovetail with each other offers the following benefits:

  • Synergies can be identified and exploited at an early stage

  • Dependencies in terms of content are recognizable and can be included in the planning of existing or upcoming projects

  • Resource bottlenecks can be easily circumvented

  • Duplication of work can be avoided

Especially when several projects run simultaneously, it is often necessary to set priorities. If the classic project portfolio has several projects running over a certain period of time, a high level of coordination effort can arise, as well as risks due to resource planning that is not fully thought through. Here, a lean portfolio can broaden the focus and reduce the planning effort. It also makes room for innovation.

By reducing the project bundle, the room for maneuver can be expanded.

This would be an option; however, we see that multiple projects can also run successfully. This requires good planning of resources and time, prioritization of tasks, and an implementable team.

Do you want to know how to effectively plan and design your project portfolio? And which team players are needed?  #shapethefuture #hlpmanagement #projektportfoliomanagement

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