Making the cut

To survive during difficult economic times, organizations must more efficiently and carefully allocate their resources, which often translates to streamlining investments, scaling back employee time, and cutting projects. This article discusses how organizations can reduce their volume of projects--and fund only those that can potentially generate the greatest value. In doing so, it overviews the basics of managing portfolios of projects, describing a holistic approach to portfolio management that integrates risk analysis into the overall strategy. It explains how German industrial giant Siemens manages projects via its PM@Siemens approach, outlining how Siemens has improved its approach so that it can handle the challenges of operating during the marketplace's current downturn. It then identifies the factors that are now influencing corporate go/no-go decisions on funding projects. It also details some of the methods that organizations are using to select projects that will help them achieve value--while mak
registered user content locked

Log in or join PMI to gain access

or Register



Related Content

  • pulse-of-the-profession-2019-thumbnail.jpg

    Pulse of the Profession 2019

    What’s your PMTQ? Our Pulse of the Profession® research shows that organizations that combine technical skills with project management approaches drive more successful outcomes.

  • PM Network

    Bracing for a Storm member content locked

    By Gustafson, Katie The global economy has been called "buoyant" and "bullish." But what if it goes bust? Developing markets hit 4.5 percent combined growth in 2018 and seem on track to hit 4.7 percent this year,…

  • PM Network

    Best in Class member content locked

    By Fister Gale, Sarah The public school system in Tacoma, Washington, USA needed to transform its learning environment. The goals for the state's third-largest district were lofty: boost sagging graduation rates, invest…

  • PM Network

    IoT Takeover member content locked

    Artificial intelligence (AI) and robotic projects may be grabbing headlines around the globe, but a recent survey of tech leaders shows that it's internet of things (IoT) projects that are most…

  • PM Network

    Train of Thought member content locked

    PM Network interviews Michael Foster, CIO and CTO at Canadian National, Canada's largest railway.


Publishing or acceptance of an advertisement is neither a guarantee nor endorsement of the advertiser's product or service. View advertising policy.