The process for PPM extends well beyond the scope of traditional project management. Consider, for example, some of the following functions that are usually beyond the typical purview of project managers or the project management office (PMO) in the traditional project management process:
• Identifying opportunities and needs
• Selecting which projects are to be undertaken
• Selecting which projects are to be terminated or deferred
• Establishing project priorities
• Projecting revenue and effect on cash flow
• Aligning projects with strategic objectives
• Evaluating the value and benefits of the project to the firm
• Making a determination as to whether there are adequate benefits from the opportunity to overcome predicted risks
• Ensuring balance among various types of projects (maintenance, opportunity, competitive edge) so as to protect and enhance the firm's future
These are primarily the purview of financial managers, strategic planners, operations executives, and other senior officers. The processes listed above may also warrant inputs and participation from the marketing, purchasing and outsourcing, and human resource departments, as well as the various functional departments.
PPM is an enterprise-wide process involving a wide range of participants. It is also an extremely visible and sensitive process. How well this process is executed will have the greatest possible impact on the viability and success of the firm for an extended time.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.