What do businesses need to understand about demand management and portfolio analysis? While many businesses recognize the value of achieving and managing portfolio success, the execution around that success is often lacking.
Buzzwords like benefits realization, efficient frontier, and strategic value sound promising, but those buzzwords must be coupled with the proper execution to gain meaningful and sustainable results.
Microsoft Project Server is a flexible solution for project portfolio management (PPM) and everyday work. Team members, project participants, and business decision makers can prioritize project portfolio management and deliver business value from virtually anywhere. Microsoft Project Server's Portfolio Analysis component can empower your business to turn those buzzwords into benefits. The Portfolio Analysis feature can enable your businesses to link its project execution tracking to the demand intake, which ultimately tracks benefits realization.
Flexible Project Portfolio Management
- Effectively evaluate ideas or measure the strategic contribution of competing requests to determine alignments and streamline project initiation.
- Easily create workflows in Visio and SharePoint Designer to standardize project progression or rejection and improve governance and control.
- Quickly promote a SharePoint task list to an enterprise project in PWA.
- Effectively identify, select, and deliver project portfolios that best align with your organization’s business strategy and maximize ROI.
Analyze & Approve
Your business probably already has a process in place to analyze and approve portfolios before projects begin. The approval process might be dependent on a set of criteria or business cases, but additionally it is important to remember the most important factor: a project should support your business’s overall goals, specifically its strategic business drivers. Project Server organizes information so it is always clear and readily available to those who need to analyze and measure portfolio data. When properly utilized, the Portfolio Analysis feature enables you to rate all of your projects against your business drivers in one spot. You can also customize reports to graphically present your data in different types of charts.
Framework To Prioritize
What are my overall business divers?
- Evaluate existing business drivers and strengthen their specificit.
- Elaborate on the company’s competitive advantage and how to increase it.
- Establish ways to reduce operating expenses and increase gross revenue.
What does this project bring to the business?
- Establish measurable criteria that quantifies risk, benefits, and value for any given project.
- Ensure that the criteria is consistent and can be measured across a spectrum of projects.
- Evaluate both of these in relation to the business as a whole.
What specific goals does this project help us achieve?
- If a company is moving to digital content, a project should support that move.
- If an enterprise is expanding into a new region, consider that factor as well.
- Make sure the potential projects align directly with established goals.
It's important to establish measurable criteria that quantifies risk, benefits, and value for any given project and ensure that all criteria is consistent and can be measured across a spectrum of projects.
When you start by establishing the basics listed above, Project Server can leverage that information across the enterprise. Not only will your business gain the ability to evaluate projects more consistently and efficiently, it will also transform the structure of project information into a more cohesive and efficient repository so you can be sure that analyzing and approving potential projects are based on accurate measurements.