With the selected portfolio in hand, the PMO is now able to execute on the projects to see them through to completion. Various portfolio and project management software products are available on the market. (Example project portfolio management products are Artemis, Business Engine, Mercury Interactive, Microsoft Proj ect, Niku Clarity, PlanView, Primavera Team Play, ProSight, and UMT.) These products typically serve as a central repository for project information, task management, resource utilization, and various other crucial project management activities.
The execution process is a dynamic and crucial component of overall project success. It will continue to be relevant to the organization's needs only if the projects executed are aligned with the organization's objectives. A rolling portfolio planning, execution, and measurement effort will continuously ensure the relevance of the portfolio (discussed in more detail below).
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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.