Power-Packed Justification of PPM

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Power-Packed Justification of PPM

Bob Weinstein

November 27, 2006




The principles of project portfolio management were clearly established more than a decade ago. There are irrefutable reasons for it. Uppermost is the scary statistic from Darien, Conn.-based technology consulting company Jupitermedia that 80 percent of corporate strategies never see the light of day--a powerful reason to take advantage of PPM.
 
Jupitermedia analyst Jeannette Caanis-Brewin said that there are three powerful reasons for embracing PPM. They are: 1. Realism, 2. Rationality and 3. Visibility. PPM brings realism to an organization’s planning processes; rationality in the allocation of resources, both human and financial; and visibility to project work and project people. Additionally, it requires a mature organization to pull it off.
 
Despite PPM’s importance, it’s still a hard sell, according to Richard Sherwood, PMP and senior vice president of operations at a Fairfax, VA-based IT consulting company.



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