ANALYSIS OF PPM

Historical and Comparative Analysis of PPM

Executive Summary

The project portfolio management (PPM) has been widely implemented in numerous organizations and businesses across the globe. It is currently regarded as one of the main elements in the success of an organization. PPM is regarded as a dynamic decision process in which the list of the active new projects of products of a business are constantly updated and revised. During this process, the projects are evaluated, selected and also prioritized, the prevailing projects can be killed or deprioritized and the recourses are reallocated to the projects that are active. OPM3 which is one of these models is used as a global standard which helps the organizations to manage the projects along with knowing the skills and capabilities of the management of projects. It has been revealed through this study that the project managers are the key success to the management of portfolio.

PPM has been very widely implemented in many businesses and organization in the world. Presently, it is considered as one of the most essential element which is required for the success of an organization. It is mainly due to the large number of projects that run simultaneously which need to be both monitored and controlled to ensure the success of the projects as well as the organization. It is also because large amount of money is invested in the equipment and machinery which also increases the need of PPM. This concept entails a very wide viewpoint along with having a very highly formulated controlling metrics system which is needed to run various project activities in a successful manner.

There are different projects in an organization and each project has its own budgetary requirement, sources, scale time, capacity and range. In context of the specific limitations of a project, the Project Manager Officer is held accountable in terms of ensuring that the tactical goals are implemented in a timely manner and the resources are used successfully and efficiently for generating the desired results. These individuals are talented and able in terms of attaining the objectives of the project through the stability and equilibrium in the three fundamental limitations of PPM which are well defined range, resources and timelines.

PPM is regarded as a structure that has a set of approaches and methods which are the focus of running various activities of projects both profitably and efficiently. The achievement of a certain strategic plan is very difficult without the presence of a strong base of gears and maps. Till now, there are many organizations which try to implement various activities of projects without having a strong structure. This gap underscores the requirement and importance of PPM. Therefore, it is important to seal this gap as it will help the organizations to resolve this issue every time a new project is started.

Project portfolio management (PPM) is one of the domains that possess long standing legacy particularly in the corporate sector of UAE which makes it imperative for us to reflect on the historical perspectives ...