PMcrunch

Project Portfolio Management, like Investment Portfolio Management, is a balancing act that requires constant monitoring and adjustment over time. Whereas an individual may have the right balance of risk, return, income, growth and others represented in an investment portfolio, a project portfolio is similar in many ways. Risks, returns, resources required, and alignment with overall strategy are just a few of the factors that must be kept in balance over time.

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What is program management? How does program management differ from project management? How does program management relate to project portfolio management (PPM)? As program management is becoming more formalized in its own right, especially with the PMP’s PgMP certification, I thought I would see what is out there on the web to help answer these questions.

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Business or organizational strategy is intended to drive all decisions within an organization. It provides a direction, a rallying point, and a litmus test for decisions at all levels. Hence, it only stands to reason that strategy would drive the project portfolio management process.

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Project Management tends to come onto the scene after the strategic direction has been set. Projects arise out of organizational strategy and reside on the implementation side of things. Project Portfolio Management exists somewhere in between, at the connection between the strategy formulation and implementation of the actual projects. the challenge is that there can be disconnects at the transitions among these phases.

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Enterprise Architecture ( EA ), Organizational Strategy, and Project Portfolio Management (PPM) are closely related.  The question is, “How are they related on a very practical level?”  Let’s take a look.

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Daptiv, formerly eProject, has changed its name effective November 12, 2007, reflecting its desire to cast a wider net within the enterprise. The name eProject reflected a strict project management focus, whereas Daptiv - with connotations of fast, adaptive, dynamic, modern, futuristic - leaves behind that more singular focus. In fact, CEO Jeff Pancottine has reported that the new branding reflects the on-demand, flexible style and wide range of uses for the software beyond the scope of traditional Project Portfolio Management (PPM). The capabilities of web services surely figured into this marketing move.

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