Government has begun taking a hard look at how to better utilize digital capabilities to maximize productivity while reducing wasted time and money, and this article by Lowell Dye takes a look at how project portfolio management is playing into that initiative. Part of the initiative of the federal government is to terminate 1/3rd of poorly performing projects, and that is easier said than done. Multiple agencies in multiple locations need to work together flawlessly in order to fully realize the potential value of more accurate, high priority work being completed. This is where PPM steps in:
A primary objective of Project Portfolio Management (PPM) is to minimize risks while maximizing the benefits received from project-related investments. Smart executives will adopt portfolio management processes that help qualify and quantify e-government projects and clearly demonstrate project alignment with strategic goals and objectives. Given the high priority of e-government projects and shrinking availability of resources, experience has demonstrated that without a formal PPM methodology and toolset to help determine which projects to fund, project prioritization, resource allocation and commitment will most likely continue to be based on those stakeholders with the perceived political clout.
But the use of PPM can take away the influence of political clout and provide a much more objective view of which projects are doing well and which projects should be cancelled. PPM will also allow for a regimented view of projects in-motion, a remarkable asset when work is being performed online rather than in person. Problems such as diversity of scope, resource requirements, and replication can be eliminated if agencies abide by the foundations of PPM and work together for increased visibility.