Project Portfolio Management

I work for a large corporation as a system analyst with a small group of dedicated people with enormous project loads. Our group of 8 people are currently managing over 60 projects. We are constantly struggling with managing the record keeping overhead of such a high workload. We had recently began the exercise of identifying a PPM tool that would allow us to automate many of these documentation activities. What we found surprised me.

With all the off-the-shelf solutions available we found that most actually increased our overhead. Not only do most of these systems cost quite a bit, they rob you of valuable time by forcing you to input data point after data point. Now, most of the features of these off the shelf solutions are optional but the only way to get the maximum benefit (in the long run) is to input as much information as possible. Failure to do so can ultimately limit your reporting options later. And as anyone who knows these types of systems can attest that missing information is difficult if not impossible to recall.

The real issue is that traditional IT is targeted to sales, marketing, Operational Administration, and customer retention. There are very few off the shelf global solutions that tie project management workflows together. The truth is that most of these solutions set out to solve only part of the problem. What we really need is a solution that will enable us to manage projects from 3 different but closely related perspectives.

Project Management - This is relating to the project description, scope, requirements, and constraints. It is the problem description and any underlying business and functional requirements. It also has information relating to justification, budgeting, and prioritization.

Engineering - This is the collection of documents, specifications, and other data that make up the solution design. It includes schematics, engineering drawings, source code, manuals, etc. that actually describe the solution in a way that would allow it to be constructed.

Resource Management - This is the description of resource allocation in the form of talent, technology, and capital that are required to complete the project from concept to sign-off.

The landscape of project management software is rife with options that do one of these things very well. Other, less prevalent options do two of these things with at least modest competence. Sadly, There are none that do all three in a cohesive and comprehensive way.

So what do you do in light of such a glaring gap. Some would say develop your own solution. It could be argued that this is certainly untapped potential for some eager future software mogul. I would certainly entertain any candidate that did a respectable job at managing this type of project. Any Takers?

I would love to hear insight on this. Please comment responsibly!!