What’s So Trendy About Project Portfolio Management That Everyone Went Crazy Over It?
One of the bigger challenges facing many companies, regardless of their size, is how to successfully launch and to deliver new products, solutions, and services in order to grow profitably.
According to the Project Management Institute (PMI) in the United States, one-third of all corporate projects fail and more than 50% do not achieve their desired objectives — even when they have the full support of top management. The reason for this is that good execution is difficult if not supported by the right tools.
Although most companies like to believe that they can manage the Project Portfolio Management process successfully, the reality is very different. To find out how efficient your company is in managing internal projects, answer “yes” or “no” to the following questions:
1. Do you still send e-mails with attachments back and forth to edit/publish documents without any idea as to which is the most recent version?
2. Do you still keep track of your projects and activities in spreadsheets or presentation documents such as PowerPoint with multiple versions and updates in siloed locations and computers?
3. Do you feel frustrated when your colleagues and/or you cannot find the latest version of your business plan or project at the request of management?
4. Do you wonder if you are utilizing your human, financial, and time resources adequately?
If you answered yes to any of the above, it might be time for you to implement a Project Portfolio Management solution in your organization. The following are just a few of the benefits that can be derived from this type of agile software:
1) A centralized database that allows all key company documents and information to reside in one location, thus eliminating different silos and prevents wasted time e-mailing these back and forth.
2) A Project Portfolio Management solution with a dashboard that allows management to quickly calculate, to access, and to assess the current status and cost of any particular project (product launch, R&D, engineering, etc.) at any time from anywhere.
3) An agile software solution that can be easily accessed to understand the risks and, more importantly, the potential costs of those risks, to the organization. Thus, reducing or eliminating them.
The best companies that provide these agile software solutions, including ProductDossier, offer the following benefits:
1. FUNCTIONAL COMPREHENSIVENESS — Features end-to-end capabilities with complete and integrated functionalities.
2. PRODUCT MODULARITY — Offers a modular design that scales up and grows with the client’s business.
3. PRODUCT DESIGN — Provides an out-of-the-box, configurable product that can be tailored and customized to the organization’s needs.
4. BUSINESS VISIBILITY — Sells a single, integrated approach that addresses all business needs and that can be easily managed from a technology perspective.
The best part is that ProductDossier is not based on the customer’s ability to pay but configures its Project Portfolio Management suite to the unique needs of each customer.
Thus, if you are looking for something that will help you improve the efficiency of your organization, AND ITS BOTTOM LINE, a Project Portfolio Management Solution might be the best answer.
