Posts tagged 'Project Portfolio Management'
Managing a project portfolio is all about balance. You have a number of projects that all compete for scarce resources. You must manage interfaces between projects, prioritize resources and balance responsibilities against corporate objectives. All that to maximize the value of the portfolio, link the portfolio to the strategy, and balance the portfolio. A big part of that balance is scooped from how well each project is doing individually. Because successful projects in the project portfolio equal successful portfolio, right? It could be right but it doesn't have to be the case. There are still times when single-project success doesn't mean a thing to portfolio level success or can even hurt the latter. It's often caused by the fact that the projects in the portfolio are not prioritized, in line with the portfolio or there isn't enough valid information for the project portfolio manager to make the right decisions for the portfolio.
Projects are how things are done these days. However, according to a research paper, there are still gaps between skills for successful project management and project management framework education. The research showed that there are four main skills that the framework course usually fails to teach. Which is actually quite logical since many of the skills are the kind you can only develop over time with mindful approaches. Findings like this always remind you how much more than scheduling tasks, planning capacity, and reallocating resources project management is. I’m going to give you an overview of the skills that you should pay attention to and some useful tips that you should keep in mind.
Harley Levine has defined project portfolio management (PPM) as the management of the project portfolio so as to maximize the contribution of projects to the overall welfare and success of the enterprise. Although some say that PPM doesn’t actually involve running the projects but only choosing the projects, it still seems that many managers have to plan resources for that are selected for completely wrong reasons. Getting started with project portfolio management begins from the ground floor of the organization, and that’s where you should start with the changes for the better.
In the midst of planning the resources, planning the budget, planning the timeframe, and the dependencies, planning communication might get forgotten. It just seems so natural, doesn’t it? Well, actually, it isn’t. Good communication is one of the key elements in a successful project and a good communication plan is the backbone of good communication.In our experience, project communication plan works best and is the easiest to follow as a spreadsheet. But if you really aren’t friends with different spreadsheets, feel free to create a form that works with you and your team.
There are hundreds of Gantt chart resource planning tools out there. We are sure that whatever your need are - you’ll find a software that will meet them. Ganttic isn’t right for everyone. There isn’t a tool in the project management or resource planning scenery that would be right for everyone. Nevertheless, Ganttic might just be the one for you. Our happy customers have had their say in what they like about our resource scheduling tool. Of all of the features mentioned, we drew up a list with top 10 reasons that have lead to managers choosing Ganttic for resource planning.
Resource allocation is a good thing, right? You are managing multiple projects at once. On a Monday, after drafting up a general report, you find that while one of your resources is clearly overbooked for the week with tasks from 4 different projects, there is one resource with the same skillset, that doesn’t have any tasks until Thursday. You reallocate the second resource to the projects that the first one is working on and normalize the workload. Great, huh?
Since it’s that magical time of the year, we thought we'd go over our favorite employer, Santa Claus. We came up with 5 reasons it seems like he, as a large employer, should be using resource planning software. However, since Santa has been keeping his business pretty secretive, it's all based on assumptions.
There must be some things in life that you can always count on, mustn’t it? So there’s the fact that when the toast falls it will land with the jam-side down. If you are bringing the umbrella, it won't rain. If you don’t, it does. And immediately after you have washed your car it will also rain. It’s red lights all the way to your office if you are running late. However, from now on, there’s actually something good you can count on - all the parameters you have saved for your project view will be the same if you open the project the next time.
Once a project is completed, documents are cleared away into files and put into boxes in the store room. This ensures that the successful or finished project details are within reach for any future references. Moreover, completed projects don’t end up piling up and cluttering your workspace. The same could be said with Ganttic. The archiving feature allows users to ‘store away’ projects that are no longer active or needed to be used frequently.
To quote Wikipedia, a milestone ‘is an event within the framework of project or resource management that receives special attention’. Yup, we all knew that, but are milestones always useful?
Most companies manage projects one way or another. For some it might be their main activity, for others an occasional thing.
A few years ago I was consulting for an engineering firm in the entertainment industry. They create mechanical devices for use in movies, theme parks, broadway shows and many shows on the Las Vegas strip that rotate globes, drop superheroes from dizzying heights, and provide the audience with a seamless entertainment experience never realizing the amount have high-tech engineering and equipment that went into putting on the spectacle they were viewing.
Visual planning software is easy to set up on your entire
network, so all of your employees will know exactly what's going on.
More importantly, they'll be able to see that you're looking out for
them -- both in terms of time and responsibilities...
"Resource planning"… It sounds so fancy. But, honestly, it's a simple concept to understand -- and it's absolutely vital for your business.
This is a guest post from Brad Egeland - IT/PM & Business Strategy Consultant & professional PM & Technology author. Read more about him at www.bradegeland.com
No business uses software just because it is cool. We all want to solve something what's bothering us. The idea of Ganttic is to solve certain problems in business management. Here's complete list.
This blog post is a short version of Brad Egeland's article at PMTips.net. You can read the original here: http://pmtips.net/components-project-plan/ It is a good read about must-have parts of project management and gives a good overview of the process.
The market for planning tools is huge. Most businesses plan operations and/or projects and schedule their resources in-house, yet the choice of tools for this task is fairly limited. Ganttic has created a scheduling software to ensure that the necessary tools are in place for businesses that want the planning to be easily done, but not overly simplistic.To draw a parallel with cutting the forest - while most still do it with an ax and few can afford modern forest harvesting robots, Ganttic has just invented the chainsaw.
Many people who have been
trying to stay organized using either Microsoft Excel or Microsoft Project have
ended up frustrated by the seemingly Herculean proportions of the task. Microsoft Excel has an excellent
database format, but as it is not a tool designed specifically for scheduling,
using it to coordinate projects can prove awkward and unreliable.
Well, that has been our main question from the very beginning. When you create software you have to think about it. No one will use software what does everything from project planning to file sharing. Ours has a purpose.
Resource planning is definitely no fun. It is work and as we all know, all kind of work should be avoided. Unless it's a must. Believe me, resource and project planning is.