What has happened to the 'art' of project management? Too many so called Project managers rely on a process based under a framework (that is trying to accomodate every project in the organisation) to delvier projects - and they wonder what happened when it goes bad. Every project is different and needs to be treated that way. How? By the Project Manager utilising the componenets of framework and process that will best deliver the project benefits. The 'art' is the Project Manager adpating the framework to accomodate, and then applying the right level of process and administration to get the job done.
Project Portfolio Management is crucial for aligning projects with strategic business goals, enhancing resource allocation, increasing transparency, and optimizing risk management. Key aspects to consider include:
Alignment with business strategy
Optimized resource allocation
Enhanced risk management
Improved decision-making
Greater transparency
Aligning projects with business strategy ensures ...
Co-Founder and Director of Services at Continuous Software at a tech services company with 51-200 employees
Jun 11, 2024
Hi Ariel, It is crucial for efficiency, standardisation, visibility, and productivity, which flow into customer satisfaction, more revenue, and better savings. It can be defined as the equation of doing the right things and doing things right, which is making decisions on the right portfolio mixture aligned with the strategy and support frameworks to deliver in the best possible way. I would suggest looking at intelligent strategic portfolio planning tools with smart aangine and an algorithmic approach as the right compliment to the core PPM/execution tools. Kind regards,
Project Portfolio Management is crucial for aligning projects with strategic business goals, enhancing resource allocation, increasing transparency, and optimizing risk management. Key aspects to consider include:
Alignment with business strategy
Optimized resource allocation
Enhanced risk management
Improved decision-making
Greater transparency
Aligning projects with business strategy ensures that resources are allocated to initiatives that contribute to a company's long-term objectives. This alignment promotes efficient utilization of resources, which is increasingly important in environments where resources are limited. Optimized resource allocation allows for prioritizing projects based on their potential impact on business goals, ensuring that critical initiatives receive necessary support. Enhanced risk management through Project Portfolio Management helps organizations anticipate potential challenges and adjust plans accordingly, reducing project failure rates.Improved decision-making is supported by the data-driven insights provided by Project Portfolio Management tools. These insights allow leaders to make informed decisions about project prioritization and adjust portfolios dynamically in response to changing market conditions. Greater transparency is achieved by providing stakeholders with a clear view of project progress and resource usage. This transparency builds trust and facilitates communication within the organization, leading to more cohesive teamwork and better project outcomes. The importance of these features cannot be overstated, as they directly contribute to a company's ability to achieve strategic objectives, adapt to changes in the business environment, and maintain a competitive edge.
This is a good question, but the starting point would be to understand whether your focus is on project management software or portfolio management software because there is a big difference between the two.
In terms of software, project management software is really focused on managing individual projects and can help communicate information about a specific project. Project management softwa...
Project Manager at a computer software company with 5,001-10,000 employees
Apr 5, 2022
The real question is: what type of Project/Portfolio Management system do I need?
The Trello, Asana, and Monday.com types of products tend to be a bit more lightweight. Sometimes, they lack the structure that a more robust system such as Project Online or Project for the Web can offer.
If the organization is small(er) and or only a few individuals will be utilizing the system, then the former may work well. If a large(r) organization and many PMs /Portfolio Managers, compliance issues, etc., a more mainstream Project? A Portfolio Management approach may be needed. Look into a bigger player in the market.
Take a look at the Gartner reviews for additional suggestions as to what level and type of system may be the right one for your organization.
Download our free Project Portfolio Management Report and find out what your peers are saying about Broadcom, Planview, Planisware, and more! Updated: October 2026.
