Re-brand Your Project and Portfolio Management Platform
Your company has committed to the implementation of a Project and Portfolio Management Solution (PPM) solution. Components are deployed, users are trained and adoption is growing. Eventually, someone comes along and says “We have Microsoft Project, why are we spending so much on this?” This usually occurs 2x per year:
- When annual maintenance payment to the PPM Partner is due.
- The start of the annual budgeting cycle to plan for growth and future maintenance.
The challenge is having to explain what is provided by a PPM solution and how this platform is much more than a Project Management application. Let’s consider at a minimum the basic PPM functionality everyone could be using:
- Investment Portfolio/Program/Project management and status reporting.
- Application Rationalization to identify savings opportunities and reduce technical debt.
- Demand Management to prioritize work based on business factors.
- Ideation/Estimation for budgeting.
- Financial status reporting.
- Collaboration tools.
- Resource and capacity planning.
- Enterprise reporting including visualization tools.
Viewed in this context It doesn’t appear as though a PPM Platform could be replaced by a simple scheduling tool such as Microsoft Project! What we must do is re-brand our PPM solution to reflect its actual purpose: Enterprise Business Platform. Your PPM data source represents a centralized data repository that can be extended using BI tools and leveraged across the Enterprise for data-based decisions such as:
- Investment prioritization and performance
- Identification of top-tier investments
- Optimize the balance of new investments against inflight work
- Shifting resources to the most importing investments
- Staffing plans and team velocity
- Financial status of Investment Portfolios
- Labor capitalization data
Re-branded correctly and the common question of “why are we spending so much on this?” will fade away!