Enterprise Project Portfolio Management
Improve test corporate decision making with objective portfolio management
- Consistently gather innovative ideas from your people
- Objectively select initiatives that align with key business objectives
- Evaluate the real impact of adding, removing or delaying investments in your portfolio
- Break down silos with real-time auditable scorecards
- Use 5-D investor maps and configurable dashboards for collaborative balancing scenarios
As a senior director, managing a diverse project intensive investment portfolio, you need access to consistently gathered, unbiased cost/benefit data to decide where to best utilize corporate resources. The data needs to align with both short term and long term corporate strategic objectives to ensure strong decision making. The portfolio must also draw from investment ideas across the organization in a consistent, structured manner to remove subjectivity and corporate biases that can arise from a siloed unstructured methodology of reporting.
Gathering the best grassroots ideas is also very difficult with a diverse, dispersed workforce. However, engaging all team members is critical to corporate success and competitive advantage as the worker on the “tools” is often your most important contributor. Harnessing the knowledge in your team and engaging them in real process improvements, new product development and environmental stewardship is not easy.
Prioritizing investment initiatives across an organization requires a common platform of key business objectives to be successful. Deciding what objectives are to be measured against cannot be left to chance for an organization to succeed in today’s global economy. With technology changes taking place daily, a business cannot afford to forego regular performance review of ongoing initiatives coupled with new project ideation to ensure corporate priorities are on track.
Selecting value added investments is mission critical. Organizations cannot afford to go along with ongoing projects for the sake of completing a project. “Pet Projects” getting high visibility and top priority resourcing needs to be eliminated.
Aligning and re-balancing your project portfolio while dynamic market drivers influence cost/benefits requires regular progress updating and ongoing evaluation. Sensitivity-based scheduled updating frequencies must be established and actioned to ensure actual costs to date, forecasts to complete timelines and resource requirements are input regularly. Auditability is crucial to allow for trend monitoring and scenario snapshotting during collaborative rebalancing workshops that may include deferring risky projects or even cancelling underperforming, overlapping or misaligned initiatives.
Isolated adhoc department based systems and complex stand-alone spreadsheets just do not provide flexible, scalable, objective solutions for today’s business leaders managing complex investment portfolios with initiatives ranging from Information Technology, Capital Assets, Environmental Stewardship and Operational Excellence.
Oracle Primavera Portfolio Management (OPPM) enables all members of the organization to objectively contribute to gathering, prioritizing, selecting and aligning investment initiatives to corporate business drivers. OPPM offers easy to use, progressively layered data collection forms for front line contributors, team leader evaluation and feedback scorecards, as well as senior management investor maps and dashboards for ongoing balancing and reporting. OPPM also provides a flexible, scalable, and fully configurable web-based tool for corporations to use to manage any type of portfolio.
Gathering portfolio information starts with ideation from your best asset, your extended team members. Your frontline personnel carry a wealth of corporate knowledge and process improvement ideas that can drive extensive corporate benefits. Engaging team members through form based objective idea gathering while providing team leaders with easy to use quick evaluation scorecards that drive timely feedback, shifts the corporate culture into collaborative overdrive.
Prioritizing project investments with progressive department, business unit, and corporate based business objectives, removes the all too common ‘squeaky wheel factor’ and brings objectivity to the prioritization process. Easy to use weighted calculations can be configured from multiple inputs and fed into scorecards, workbooks and dashboards to ensure priorities can be tracked and consolidated at any level of the organization, ensuring a well balanced portfolio and one that is more likely to be successfully implemented, as it is not subjectively skewed to one groups targets.
Selecting the right mix of investment initiatives now becomes more of a science rather than an art, or even worse, trench warfare. Management teams can objectively evaluate cost benefits, potential risks, Capex/Opex budgets, staffing requirements, dependencies and key business objective alignments through fully auditable, configurable scorecards and collaborative scenario investor maps.
Aligning conceptual initiatives can be added to what-if scenarios and overlaid with ongoing project initiatives to analyse ongoing portfolio optimization. Ensure ongoing projects are updated regularly through easy dashboard input forms and automated integrations from other tools. Integrate Primavera P6 for baseline and actual start and finish dates for project phases, and Unifier for project cost forecasting or perhaps PeopleSoft for actual resource usage and actual costs paid to date. These dashboards and integrations will ensure timely and accurate portfolio forecasting for real-time mitigation and re-alignment capability. Alerting responsible project stakeholders on projects with signs of negative trending to ensure timely intervention and re-balancing is achieved. E-mails and reminders are all available to ensure timely role based updating takes place.
With OPPM, collaborative portfolio management is achievable no matter what level of portfolio management maturity your organization is at. Do away with the nightmare of multiple subjective and stand-alone spreadsheets that do not allow for management to quickly react to changing economic environments in our global economy.
- Effective Portfolio Management and Portfolio Optimization using Oracle Primavera Portfolio Management
- Implementing Portfolio Management Successfully
- Elimination of underperforming and redundant sustaining components, both hardware and software, should conservatively save 20% of that budget.
- Reduction of disruptive insertions and deletions through rational priority planning will bring benefits in both efficiency and morale.
- Getting the right initiatives in the right place at the right time brings major improvement in achieving corporate goals.
- Knowing clearly where the corporation is and being able to nimbly change priorities enables rapid response to changing markets and emerging risks.
- Oracle Primavera Portfolio Management is the tool that empowers a corporation to achieve these benefits.
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