Project Management Institute (PMI) launched its 2015 Thought Leadership Series: The Power of Project Portfolio Management today as part of its annual PMO SymposiumSM.
Focusing on the benefits of project portfolio management, the reports, which mark the third edition of the series, demonstrate the importance of maintaining alignment between an organization’s investments and business strategy.
“The 2015 thought leadership series advances the conversation around the benefits of managing projects and programs as a portfolio and demonstrates the value of this discipline,” said Mark A. Langley, President and Chief Executive Officer of the Project Management Institute. He added that PMI defines project portfolio management as “the centralized management of one or more portfolios that enable executive management to meet organizational goals and objectives through efficient decision making on portfolios, projects, programs and operations.”
PMI’s 2015 series includes:
- Implementing the Project Portfolio: A Vital C-Suite Focus – an executive perspective, developed in collaboration with the Economist Intelligence Unit (EIU)
- The Practitioner’s Perspective: Winning through Project Portfolio Management – the portfolio manager perspective, developed in collaboration with Boston Consulting Group (BCG)
- Delivering on Strategy: The Power of Portfolio Management – a synthesis of successful organizational practices in portfolio management, developed in collaboration with Deloitte Consulting LLP
Some of the series’ key findings include:
- Portfolio management success requires C-suite support
- Deficiencies in project termination and resourcing are common
- At a majority of companies, corporate politics impede portfolio management
- Organizations that execute portfolio management well differentiate themselves through strong processes, leadership, sponsorship and support, and an enabling culture
“Portfolio management is the crucial link between strategic intent and the initiatives that deliver strategy,” Langley said. “It’s essential to implementing an organization’s strategy, and it’s a practice that every organization can do well.”