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The Info-Tech ranking report offers a unique view of the market based entirely on in-depth customer interviews. Download the Info-Tech ITSM Quadrant and Customer Viewpoint report to gain a better understanding of key vendor strengths and emerging market requirements.
Project Portfolio Management (PPM) is an essential process for organizations that manage multiple projects. By utilizing PPM, businesses can maximize their resources and ensure that each project aligns with their overall strategic goals. In this blog, we will discuss the benefits of project portfolio management and how to get started with PPM.
There are many benefits to investing in Project Portfolio Management as part of your service management strategy. Those benefits are:
Getting started with PPM doesn’t have to be complicated. Here’s where to start:
Kern Family Health Care, a Medi-Cal managed care health plan serving residents of Kern County, California, uses TeamDynamix PPM to manage all projects within the organization.
With a simple and intuitive user interface, TeamDynamix makes it easy for project managers to evaluate project requests, approve and prioritize initiatives, assign resources and track and report on progress. TeamDynamix helps EPMO staff keep projects on course, establish clear expectations, and allocate resources more effectively.
“With TeamDynamix, I always have a source of truth on project data,” LaVonne Banks, director of Kern Health Systems’ enterprise project management office (EPMO), said.
When implemented correctly PPM can be immensely valuable for maximizing success and profitability in any organization.
This is the case at Kern where TeamDynamix PPM has brought greater transparency to the project management process. It also saves Banks and her staff a great deal of time when they want to understand the status of projects and report this to organizational leaders.
“I love the platform’s reporting features,” she says. “They’re super easy to use. Being able to pull reports and quickly see real-time data is wonderful.”
Another key benefit of TeamDynamix is that it helps EPMO staff get out ahead of potential issues before they become full-blown problems. While some challenges are beyond the control of project managers, having greater insight makes it more likely that projects will be completed on time and under budget.
“We can quickly identify resource constraints and make adjustments when unexpected circumstances arise,” Banks says. “Because we can identify these issues earlier, we have a better chance of staying on top of resource management.”
Better transparency leads to more accountability and, ultimately, a higher success rate on projects.
When you consider that project portfolio management tools can cost several times as much for similar features and functionality, “the value of TeamDynamix is incomparable,” Banks concludes.
No matter the tool you use for PPM, it’s clear that Project Portfolio Management is a critical process that can help organizations to achieve their strategic objectives.
By allocating resources efficiently, gaining better visibility, aligning projects with strategic objectives and promoting collaboration, organizations can optimize their project delivery. By following the steps outlined above, you can implement PPM and reap the benefits of a well-managed project portfolio.
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TeamDynamix’s award-winning SaaS cloud solution offers IT Service and Project Management together on one platform with enterprise integration and automation.
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