IT Governance drives the need for a structured approach towardsProject Portfolio Management (PPM) in an organization.Similar to project management frameworks, PPM comes in different shapes and sizes. The important point is that PPM is established to provide for an organization to:
  • Reduce project cost and overruns.
  • Increase delivery efficiency and decrease project duration.
  • Provide revenue for priority investments.
  • Improve allocation of assets to strategic initiatives.
  • Increase staff productivity.
PPM is tightly coupled with all aspects of information technology (IT) and acts as the ‘middleware’ between IT Governance and Program/Project Management.PPM enables an organization to define, prioritize, understand, and measure the impact of projects of the organization.PPM also defines the magnitude of resource involvement so you can best leverage your teams.The process improves your capabilities to work on the right projects and allocate the proper resources.

Companies agree that consistent, standard, repeatable delivery execution is a critical goal for an IT organization.For PPM to be successful, organizations need strong, industry-proven project management capabilities coupled with engaged management and governance structure to measure and monitor the project portfolio.

The following questions need to be addressed to meet these challenges:
  • Do we have a standardized approach to project management that is widely adopted and uniformly applied?
  • Do project managers and others have the skills and training required to perform their jobs efficiently and effectively?
  • Do we have appropriate processes and tools in place to provide a view of the entire project portfolio on demand?
  • Have we defined and communicated the right controls and metrics by which all projects should be managed?
  • Do we have a Project Management Organization (PMO) that drives all of this?
Omni Sourcing understands that establishing an effective PPM model for an organization is a major undertaking that needs to be treated as a strategic project for success.PPM requires a significant commitment of business/IT sponsors and a qualified support team.In establishing the PPM model, certain areas need to be answered by the business and IT organization:
  1. At what level of our organization will PPM be utilized?
  2. What stage in the PPM Maturity Model is our organization?
  3. How will oversight of the portfolio be governed?
  4. Who will be accountable for the accuracy of data?
  5. What is the perceived value of PPM at varying organizational levels?
  6. Do we have the expertise to develop a PPM solution?
Omni Sourcing’s approach to PPM is about understanding your culture and right-sizing industry best practices to the needs of your organization.We ensure that the structure, tools, and processes we recommend are aligned with your goals and assets.We provide insights that help technology and business leaders use PPM to transform their businesses.

The PPM framework includes investment categories, risk-adjusted evaluation criteria and strategic alignment.We work with companies to define how to prioritize, manage, control and communicate status on projects.Whether you are implementing PPM or looking to assess and improve your PPM processes, Omni Sourcing has the services to assist in your PPM and project management execution.In order for PPM to be successful, project management, resource management, reporting and organizational processes must be well established.We have the capabilities to provide the solutions to allow for the continuous evolution of PPM.