![]() ![]() Often, project portfolio managers are part of a Project Management Office ( PMO). Portfolio Managers often develop management standards to guide the portfolio and keep a high-level overview of everything within the portfolio. ![]() These models align projects to the company’s strategic objectives and keep risk management in mind. Often, the role of a project portfolio manager revolves around managing one or more portfolios and working with different financial algorithms and financial models. What Is The Role Of The Project Portfolio Manager?Īs the person with oversight of an organization’s project portfolio, the portfolio project manager is integral to the successful execution of the organization's strategic objectives. By establishing an optimal mix of projects, PPM ensures a company is better placed to achieve its strategic objective and its operational and financial goals. ![]() Other objectives include achieving balance in the project portfolio by ensuring an appropriate mix of high and low-risk and long and short-term projects. Also, ensuring desirable project performance, considering the resources that need to be allocated vis-a-vis the available resources, and the strategic fit with the company’s goals. This necessarily involves selecting only those projects that offer the right amount of value. The primary objective of PPM is to maximize the benefits a company accrues from the projects it undertakes. What Are The Objectives Of Portfolio Management? PPM also enhances transparency, governance, and accountability with stakeholders. If they can understand, manage, and mitigate risks, it will minimize discord, which can often be the bane of successful project and work management.
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