Minimizing Business-Critical Issues with PPM
IT organizations––in today’s business-centric era––are powered by agility in almost everything they do. However, with a multifarious set of operations being executed seamlessly, organizations are exposed to numerous technical, as well as management issues on an almost daily basis. Needless to say, this results in inaccurate data and inadequate resources during project planning. Their attempts to solve these issues often come from the realization that project management, just like any other enterprise operation, is also an essential factor that steers them towards success. In a bid to find its roots, and inject efficiency into the management, modern-day organizations deploy Project Portfolio Management (PPM) software across their IT environment.
According to MarketsandMarkets research firm, the PPM market is expected to rise up to a staggering $4.63 Bn by 2020, at a CAGR of about 12.9 percent. Aiding to optimize resource utilization and risk mitigation involved in specific projects, PPM-based software solutions and services are being deployed by enterprises on a large scale. Moreover, the advent of Bring Your Own Device (BYOD) has paved a productive path for the entire PPM software market––providing real-time updates on the projects.
PPM–in a Nutshell
A highly functional PPM software assists enterprises in effectively managing the portfolio of their IT projects and applications in real-time by injecting various collaborative processes. Its tools and features facilitate the entire portfolio decision making process that begins with initial proposal, justification and review, and ends in the successful execution and deployment of the projects.
Although there are numerous solutions available in the PPM marketplace––endowed with a wide array of solutions, choosing the right one with the right set of tools is always a conundrum enterprises are faced with. Below mentioned are the key features can help enterprises deploy a best-in-class solution.
State-of-the-art Planning and Scheduling Capabilities
Often driven by agility, an IT organization stages a scenario where employees work in teams. In an innovative manner, a project management tool must be capable enough to inject enhanced visibility into everyone’s tasks and responsibilities. Moreover, it should avoid misunderstandings by systematically assigning the tasks. The process should also include assigning tasks to the team members while setting the priorities and deadlines. An ideal solution automatically adds due dates to the tasks and sends a notification regularly before the deadline for task completion approaches.
Fostering Seamless Collaboration among Teams
As most project teams involve large number of people with expertise in diverse fields. Although all the members have specific tasks on hand, they are focused on a single goal. Thus, establishing a quick and seamless collaboration through multiple channels becomes an essential factor. The project management software should include features for sharing files, calendars and contact lists.
Choosing a software solution embedded with the ability to create team dashboards leads enterprises towards perfection. Dashboards offer the flexibility to add charts, graphs, visual Key Performance Indicators (KPIs) and visual metrics. Innovatively, the team dashboards also serve as transparent project KPI report that display tracked metrics which can be compared with real-time results. Consequently, it gives a quick overview of the team’s progress.
Documentation plays a vital role in today’s IT organizations. Switching between multiple documents to find relevant information can sometimes become a hurdle. It is always recommended to deploy a tool that collects a cluster of data, stores, and manages them at one place––allowing teams to share and view the data on a single platform. Furthermore, having a customer relationship management (CRM) or invoice automation is an added advantage.
In order to achieve perfection in project management, enterprises must be well-aware of their failures and limitations. Although KPI dashboards may be enough to gain meaningful insights on the team’s progress, adopting a project management tool that includes reporting capability will drive productivity.