Everything you need to know to understand project portfolio management!
Are you confused about project portfolio management? You need to know exactly what project portfolio management is, the benefits of it, and how to succeed if project portfolio management is a role you find yourself in.
What is project portfolio management?
Project portfolio management is about taking a whole bunch of different projects and programs that don’t necessarily relate to each other and putting them together in a portfolio.
Why would you do this?
Well, the goal is to ensure that all the projects are linked to company strategy and that they all fit in effectively, in a way that really makes sense.
Benefits of Project Portfolio Management
Project portfolio management ensures projects are aligned with organization strategies. It also ensures you have the right resources and are not spreading them too thin, a good understanding of budget that you’re using responsibly on projects, and that you understand the priority sequence of projects.
On their own, every aspect of every project seems really important but when you put them in context of one another it shows you what is truly most important in light of the overall strategy that you’re trying to achieve.
4 Steps of Project Portfolio Management Process
If you want to succeed with project portfolio management, then you really need to understand all the steps that it will take to succeed.
That’s why I’ve created a video to go through all of it with you! If this is something you want to know more about, head over to YouTube with me and we’ll keep chatting.
I really hope that you found this helpful – and if you did, it would mean so much to me if you would share it on your social media.
Meanwhile, if you really are committed to mastering your next project, do consider taking my SLAY Project Management online course where I show you step-by-step how to successfully manage a project, plus you get access to every template you will need, along with detailed video instructions on how to fill them out.