The Emergence of Project Portfolio Management

Certainly it is not news to anyone that the basic concept of project management has evolved to what we call enterprise project management. At first, many people in the PM community thought that this shift was more of a way of aggrandizing project management—sort of a pompous elevating of project management to a higher level of importance. Later we came to realize that enterprise project management was a reflection of the importance of consolidating and integrating all of the organization's projects—for universal access and evaluation. Now we come to find that enterprise project management entails consideration of potential projects as well as approved projects. We also find that the emphasis has shifted from traditional project-centric objectives to higher-level operational objectives.

Projects, executives have come to realize, are the basis for the future profitability of the firm. Hence, they have a growing interest in how projects are selected and managed. They are precipitating an increased demand for more standardization and automation of project management. But what they are asking for is different from the requests from traditional project management sources. And what they are calling this emerging project management protocol has also changed. It is no longer just project management or even enterprise project management. It is now called project portfolio management.

Project Management Made Easy

Project Management Made Easy

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.

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