Project Portfolio Management
Many company management groups today have difficulty in seeing the value of the organisation's projects and what contribution the projects make in achieving the organisation's strategies and goals. For an organisation to succeed with its project operations, it is not enough to implement projects, it is also necessary to:
- Choose the right project and programme.
- Prioritise correctly.
- Start with a suitable time point.
- Ensure that the benefits are achieved.
A solution for portfolio management functions as a very good basis for decisions for the management and gives an overview of all ongoing projects. This means that it will be easier to see which projects need reinforcement and which need to be delayed or entirely suspended. Portfolio management also helps organisations to choose the projects that can maximise the benefit, while project management is a way to ensure that the project is implemented correctly and delivers the intended advantages.
The most successful companies use portfolio management as a forum for continuous dialogue in project operations. They have a shared view of what goals and priorities the business has and can adapt the management of the project accordingly.
The business case for portfolio management
A solution for portfolio management can give results such as:
- Facilitating control of multi project operations including programmes and portfolios to achieve long-term competitiveness.
- Making it possible to analyse, follow up and optimise the whole project operation from a strategic perspective.
- Facilitating the prioritisation of the projects that should be started and when.
- Helping the management to identify and solve project conflicts.
The target groups for portfolio management are project offices, project managers, portfolio owners, controllers, management and other decision makers.
How does CANEA solve portfolio management?
CANEA ONE is an integrated program family which includes solutions for managing business information such as goals, projects, documents, processes, cases and other data.
The CANEA Project module is designed to support portfolio and programme management with functions including:
- Prioritizing - Prioritizing, weighting and ranking facilitate decisions.
- Monitoring – have an overview of ongoing projects' status, time plans, project finances from several points of view
- Analyzes - compare projects, overview benefits and analyse base plans.
- Strategic portfolio management - control project operations on the basis of the business strategy.
Read more about CANEA Project here.