The AMA Handbook of Project Management

By Paul C. Dinsmore; Jeannette Cabanis-Brewin | Go to book overview

CHAPTER 23
Project Portfolio Management:
Principles and Best Practices
GERALD I. KENDALL, PMP, TOC INTERNATIONALProject Portfolio Management (PPM) is a set of processes to analyze, recommend, authorize, activate, accelerate, and monitor projects to meet organization improvement goals (see Figure 23-1). When performed successfully, PPM has yielded the following benefits:
20–30 percent improvement in time to market.1
25–300 percent improvement in number of projects completed with the same resources.2
Average project duration cut by 25–50 percent.3
Over 90 percent project success rate, with double the profit margin.4
50 percent improvement in R&D productivity.5
These achievements apply to government, not-for-profit, and for-profit entities.The principles and best practices of PPM presented here are backed up by research, case studies, and many years of experience. To accomplish its primary objective of improved ROI, PPM must ensure that all three of the following activities are performed expertly:
Choosing the right project mix—Choose those projects that will leverage the organization’s precious resources to bring large, measurable value to the stakeholders.
Ensuring the correct scope—Align projects and content cross-functionally to ensure that the combined changes will

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