EPPM Enterprise Project Portfolio Management, PM Project Management, PMOs Project management organizations, PPM Project Portfolio Management, PPO Project Portfolio Optimization, Robert G. Cooper
Enterprise Project Portfolio Management (EPPM) is the practice of taking a top-down approach to managing all Project-intensive work and resources across the Enterprise.
Project portfolio management (PPM) refers to a process used by Project managers and Project management organizations (PMOs) to analyze the potential return on a doing a project. A key result of PPM is to decide which projects to fund in an apotimal manner. Project Porfolio Optimizaction (PPO) is the effort to make the best decisions posible under these conditions.
PPM and project management differ by number of projects. Project management looks to focus on an individual project´s, whereas project portfolio management takes into consideration every project or potential project and its viability.
PPM provides program and project managers in largue, program/project-driven organizations with the capabilities needed to manage the time, resources, skills, and budgets necesary to accomplish all interrelated tasks. These can include financial resources, inventory, human resources, technical skills, production and design.
The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best archieve an orgaizations´s operational and financial goals, while honouring constraints imposed by customers, strategic objectives, or external ral-world factors.
The key aims of EPPM can be summarized as follows:
- Prioritize hte right projects and program
- Eliminate surprises: process to indentify potential problems earlier in the project lifecycle, to take corrective action before they impact financial results.
- Build contingencies into the overall portfolio
- Maintain response flexibility: quickly respond to escalating emergencies by maneuvering resources from other activities.
- Do more with less: to ensure a consistent approach to all projects, programs, and portfolios while reducing costs.
- Ensure informed decisions and governance
- Extend best practise-wide
- Understand future resource needs
Types of Portfolio Management:
- Active Portfolio Management: the portfolio managers are actively involved in buying and selling of securities to ensure máximum profits to individuals.
- Passive Portfolio Management: the portfolio manager deals with a fixed designed to match the current market scenario.
- Discretionary Portfolio management services: an individual authorizes a portfolio manager to take care of his financial needs on his services.
- Non-Discretionary Portfolioi management services: the portfolio manager can merely advise the client what is good and bad for him but the client reserves full right to take his own decisions.
The project portfolio management process helps companies predict the outcome and plan for projects that will offer the best results. It helps companies break down every detail of a proposed project-budgets, resources, tasks, timelines and goals. Using in-depth analysis of proposed projects, weighed against current projects, a company can define what risks offer the most rewards.
Dr. Robert G. Cooper is a Professor Emeritus of Marketing and Technology Management at University in Ontario, Canada. Is one of the most influential innovation thought leaderes in the business world today. He is considere one of the most important discoveries in the field innovation management. He has published more than 100 academic articles and eleven books, including: “ Portfolio Management for New Products”.
- Robert G. Cooper, Scott J. Edgett, Elko J. Kleinschmict; “Portfolio Management for new Products: Second edition. Hardcover”. January, 2002
- Harvard University: management porfolio
- Economics from Oxford: management porfolio
- Robert G. Cooper and porftolio