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Project portfolio management (PPM) can be considered as a management innovation that in many companies is still to be further established and accepted. The main objective of project portfolio management is to maximize organizational benefit by selecting project portfolios that provide the greatest opportunity to achieve strategic goals and objectives. In fact, companies use project […]
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Project portfolio management (PPM) helps companies manage and control projects within an organization. Companies use PPM for several reasons such as maximizing the outcome of projects, balancing risks and most importantly aligning projects to the strategic objectives of the organization. In fact, the final goal of PPM is to achieve companies’ strategic goals by effectively […]
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Strategic decision-making is extremely important for organizational survival. There could be different types of organizational strategies. For example, there are strategies that could be based on a business line, diversification, innovation, brand, etc. It is important to say that the steps needed to select the different organizational strategies have risks. Risk analysis helps companies obtain […]
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To define an effective organizational strategy, companies should always take into consideration all types of risks that may occur at every level of an organization. As risks are part of the company’s strategy, they can affect portfolios, programs, and even projects. There are two types of risks: positive and negative. These risks can influence the […]
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Studies report that most firms, especially private ones, are usually focused on increasing their profit over time. At the same time, these companies need to achieve their strategic goals by relying on a limited amount of resources. Medium and large organizations generally implement their strategies by executing projects and programs in their business lines. Project […]
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Companies need to work very hard to survive in the fierce business world. Every day, companies look at their competitors to understand the future trends and take action beforehand. They constantly try to innovate by taking into account their budgets and the risks of their actions. At the same time, market conditions change fast, so […]
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Today, the term portfolio is used in different contexts and has to do mainly with a variety of items and objects. The most common meaning of the portfolio refers to a collection. In addition, the combination of the term portfolio with other words such as “project” and “management” has created new terms such as “Project […]
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To stay competitive in the modern world, companies and organizations need to innovate. They need leaders who are able to recognize great ideas and turn them into reality. Here are seven practical and effective steps to becoming an Innovative Leader: Define the direction Fast Decision-Making Challenge the rules Welcome failures Be persistent Reward success Be […]
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The PMO can be considered the new fuel for organizational change. An effective PMO delivers business results. Everything starts with hiring and empowering key people that build successful teams. It is important to create the right culture and to adopt the concept of servant leadership. The Agile approach provides companies with a common thread for […]
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In normal times we expect our leaders to be positive, flexible and focused. But what are the skills that a leader should have to manage a crisis? Here are 5 leadership skills that leaders must have to manage a crisis effectively: Focus Adaptability Communication Creativity Availability The first skill is Focus. One of the most […]
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In a period of high uncertainty the world needs leaders who are able to embrace change and turn difficulties into opportunities. We need people that inspire and guide us through tough times. There are three basic leadership styles: Autocratic Democratic Laissez-faire The first one is the autocratic leadership. This style puts the “authority” in the hands […]
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To deploy strategies, companies need to focus on their business processes in order to reach their goals and create value. The culture of a company is part of its processes as a result of its established values, behaviors, and beliefs. As organizational culture changes over time, companies need to consider their culture when they need […]
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There are companies that deliver high profits and grow above their industry average. These high-performance organizations obtain these results not by chance but by choice. Their leaders have decided to create a high-performance culture and put in place the ingredients that will contribute to their success. Improving the level of employee engagement within the company […]
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Some of the most successful companies in the world are able to create environments their employees love to go, and job seekers desire to work from. Identifying and developing a company culture that is healthy and productive can make a huge impact on an organization’s success. Organizational culture is the set of values, expectations, and […]
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The strategy of a company is defined by the way an organization decides to compete in its own market. Business strategy gives direction to the organization. To create a competitive advantage and beat the competition, companies need to recognize the competencies they need to reach those goals. Developing strategic objectives and financial goals are critical […]
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One of the key tasks of project management is to balance the expectations and needs of stakeholders; especially when there are requirements and priorities that may be conflicting or opposing one another. In fact, to implement their strategies successfully, companies need to take into high consideration stakeholders’ needs and concerns. Stakeholders influence Stakeholders can be […]
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The relevance of Project Portfolio Management is growing beyond the project-based business. As many of us know, projects have become the main way for executing the strategy of an organization. In fact, companies that execute projects that align their objectives with organizational strategy have more chances to be successful over time. In fact, it has […]
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Project Portfolio Management (PPM) helps companies select the right projects, which align with their strategies, to achieve their objectives. Thanks to PPM companies are able to allocate the resources to support those projects. Even if PPM is usually used to improve project success probability, to achieve success companies need also to consider the connection between […]
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To develop new products companies can integrate Project Portfolio Management into the Stage Gate process. This approach works very well for big firms that operate in mature businesses where the portfolio of projects is pretty static. Thanks to this approach companies can review individual projects and make go/kill decisions on each one of them. To […]
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Companies need innovation to increase their market share and profit margin. Thanks to innovation, companies are able to put new successful products on the market. To get the most out of each new product, companies need to deliver them on time. Unfortunately, what usually happens is that most companies have a lot of projects they […]
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The definition of strategy is a long-term plan of action used to reach a specific goal or a set of objectives. To get the most out of their resources companies should link strategy and new product resource allocation. In addition, depending on their strategies, companies decide to focus on specific markets, technologies and products. In […]
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Companies can maximize project benefits and minimize overall project risks by balancing project portfolios. Executives have to analyze and balance the portfolio to reach these goals. The objective is to fund worthy efforts in order to produce the highest payback from each investment. A project portfolio can be considered like an investment fund, where the […]
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Companies today have a lot of projects they could be working on but a limited amount of resources. Instead of just trying to figure out how to get through as many of them as quickly as possible, organizations can use Project Portfolio Management (PPM) to prioritize those projects. There are many methods to achieve this […]
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Companies need innovation to increase their market share and profit margin. Innovation helps companies deliver higher value to customers. The process of converting an idea into a product or service allows companies to remain relevant and competitive in their fields. Innovation through projects Companies can decide to innovate by relying on incremental technology improvements which […]
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Companies are increasingly using projects to manage most of their activities. Managing single projects can produce a loss of transparency and efficiency of the project outlook. To be more effective companies need to use a management approach such as Project Portfolio Management (PPM). PPM is an efficient way to manage projects. It must be a […]
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Project selection is very important to effectively apply Project Portfolio Management (PPM) . For this reason, it is worth exploring the essential tools and techniques to choose the right projects for the portfolio. It is also useful to say that having an official process to set project priorities could not be enough for the success […]
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Project Portfolio Management has obtained a lot of attention lately. PPM has gained momentum as companies have recognized that organizational efficiency also depends upon doing the right projects. Basically, it is more important to choose the right project than doing the chosen project in the right way. PPM processes Project Portfolio Management processes aspire to […]
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Organizations can benefit from using Project Portfolio Management practices. In fact, PPM allows companies to allocate resources, schedule, analyse, and manage projects and business. At the same time, companies also encounter problems when using PPM. What type of problems companies face in using PPM? Let’s analyze the three main problems that organizations need to deal […]
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Project portfolio management is considered to be a logical decision process. To execute PPM effectively it is important to consider some other aspects. In fact, there are characteristics of PPM that have a great impact on its implementation. Let’s analyze some of the most important assumptions that can have a great influence on PPM execution. […]
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In a world that is becoming more and more complex, companies can use Project Portfolio Management to manage the complexity of their portfolios. In fact, as projects increase in number and size, the complexities and management challenges rise exponentially. Everyday, new markets and strategic opportunities can arise. As a result companies need to make […]
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