Historically, Project Portfolio Management (PPM) tools were used by programme and project managers in large organisations to manage project requests, prioritise and select projects, predict and manage resource demands, and manage the ongoing execution of selected projects.
In the early 2000s, more senior audiences for PPM solutions began to emerge. Senior managers and executives sitting above the project and program management departments wanted assurance that the portfolio of projects being managed aligned with the organization’s overall strategic objectives.
For larger and more complex organisations, greater visibility of project work was needed to improve resource utilisation and capacity planning across the enterprise. This has lead to a broadening of the PPM mandate and the emergence of new PPM tools.
Building on research from Gartner's "Maximizing Value and Avoid Waste by Managing PPM Tool Proliferation in Your Enterprise", Copperleaf's report discusses key PPM learnings and potential solutions for utilities.
The business value of PPM is also expanding. In addition to the traditional benefits outlined above, the new breed of PPM allows organisations to realise the following benefits:
- Strategic alignment of project portfolios
- Optimisation of portfolio value
- Improved resource planning and management
- Improved collaboration across organisational divisions
- Visibility and oversight on project performance
- Improved project management office processes and execution performance
Donna Keck, Lead Engineer, Business Planning/LRP Support at Duke Energy, says of PPM: "The ability to collect and manage your investments in a portfolio management approach is really something that we use to reinforce accountability and ownership for the investments.”
With a clear business case, Copperleaf expands on the potential of more holistic PPM tools. Looking at the use cases of its own solution, Copperleaf C55 Decision Analytics, key learnings from this report include how PPM can help you:
- Deliver the most value from assets
- Manage risk
- Deliver optimal performance
- Meet service level and regulatory obligations