A critical mistake is to think that PPM is fundamentally the management of multiple projects. This is not so. PPM is the management of the project portfolio so as to maximize the contribution of projects to the overall welfare and success of the enterprise. This means that:
• Projects must be aligned with the firm's strategy and goals.
• Projects must be consistent with the firm's values and culture.
• Projects must contribute (directly or indirectly) to a positive cash flow for the enterprise.
• Projects must effectively use the firm's resources—both people and other resources.
• Projects must not only provide for current contributions to the firm's health but must help to position the firm for future success.
This cannot be accomplished solely within the projects domain. PPM, to be fully effective, requires the participation of several core components of the firm. Furthermore, it requires the integration of several systems within the organization. Let's look at each of these first from an organizational point of view and then from a systems point of view.
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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.