However, at such times, the projects and programmes they do invest in are often more critical, since they may be essential to deliver efficiency savings, sustain revenue or improve aspects of performance on which the survival of the organisation can depend. The current turbulent economic conditions appear to have caused increasing adoption of project portfolio management (PPM) by organisations. PPM can be defined as managing a diverse range of projects and programmes to achieve the maximum organisational value within resource and funding constraints, where ‘value’ does not imply only financial value, but also includes delivering a range of benefits which are relevant to the organisation’s chosen strategy. This paper explores the use of PPM by organisations during the current turbulent economic conditions. We wished to explore what activities and practices were involved in their approach to PPM and how these practices were influenced by the current economic conditions, and the benefits they were deriving from its use.
Risk and strategy are the lynchpins of every business, with equal power to create or destroy value. They demand equal talent and attention. Management focus and board oversight must reflect this reality.
Olivia F. Kirtley
Director – U.S. Bancorp; Papa John’s International; ResCare