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Published by: richard_mm22 on Apr 14, 2010
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Large businesses typically have hundreds—even thousands—of projects
underway at one time to create the new products and services that build
their future. These projects cross normal business hierarchies and chains
of command, making project portfolio management (PPM) an
organization-wide challenge. The pressure to complete projects on time
and within budget, and maintain a competitive edge, is driving
corporations to develop and implement PPM processes. They are moving
away from a traditional functional structure to a multiple-project
organization that must achieve clear, but urgent goals, using limited,
shared resources, and they need the fastest business payback from those
projects to realize potential revenue and increase shareholder equity.

PPM provides comprehensive information on all projects in an
organization, from executive-level summaries to detailed plans by project.
Individuals across all levels of the company can analyze, record, and
communicate reliable information and make timely, informed decisions
that support their corporate mission. By putting the right tool in the right
hands, PPM enables an organization to

Make strategic business decisions

Control the minute detail that is necessary to finish projects

Understand current resource demands, set priorities, and evaluate
long-term staffing requirements

Use skilled resources effectively and productively

Reorganize projects to fit shifting priorities without sacrificing quality

Understanding Project Management 5

Primavera - Project Management

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