Due to the lack of resources, the businesses running in today’s time need to select the correct opportunities which help in achieving success. Everyone put their efforts when they start some business but not every business achieves success. The reason behind not achieving success is not utilizing the proper resources. Project Portfolio Management is a process which helps you in finding the projects worth to use. It helps in improving the performance of projects. But how can be so sure that this process helps your company as more company using the PPM process?
There is a rise in the percentage of the PPM process which the company uses. In 2003, the percentage of the company which uses this process is 67% but in 2013, it grew to 71%. According to the report, approximately 55% of companies check the results on a monthly basis while 23% of companies check on a quarterly basis. We can handle a number of projects and delivered on time with the help of PPM. It also increased the accuracy of your budget.
To get the advantage through PPM process, you need to follow some of the things which are given below:
- Implement the PPM process.
- Improve the forecasting and planning of resources.
- Implement the process of capacity planning.
- Enhance the performance of the organization.
Some issues which you can face to achieve the PPM success are as follows:
- 42% of organizations have the mentality to not to share the things with the particular person in the same organization. This mentality is called Silo Mentality.
- Nearly about 39% of companies have fewer PPM skills. You need to learn first and then apply to the company.
- 40% of companies have a lack of information about the resources.
- 49% of organizations face the problem of process consistency. It will help the organization to increase efficiency.
- 42% of companies do not get accurate or reliable information about any particular project.
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