Text and infographic on trends 2015-2017 for Project Portfolio Management (PPM)

1.
4 Game-Changing Trends in PPM
(Explanatory text for infographic: 4 game-changing trends for PPM)
According to PMI, most organizations could do better when it comes to Project Portfolio
Management. Only 9% of the organizations rate themselves as doing excellent PPM.
Moreover, a mere 42% of all projects are aligned with the overall corporate strategy, and on
average 89 cents of each dollar invested in projects is well spent.
Based on PMI’s report and our own research, we foresee four game-changing trends for
Project Portfolio Management, to be effective by or before 2017:
1. PPM is a true competitive differentiator
In 2017, there will be much less room for mistakes. Organizations have little or no financial
reserves left, so cannot risk a faulty project. Besides, the pace of innovation is still increasing
and with ubiquitous social media the importance of ‘reputation’ – or rather: the avoidance of
‘loss of face’ - is more important than ever. This requires well-orchestrated PPM processes in
order to make the right investment decisions and protect current assets.
2. PMO is represented at board level
In 2017, the only constant is change. As the number, size and impact of projects increase, it
becomes increasingly important to lay down a solid project infrastructure. There’s no room
left for ‘bleeder projects’. The Project Management Office is the spider in the web to
coordinate all project portfolio management processes, ensuring the right data is available on
time, and setting thresholds for further project improvements.
3. Benefits management is de facto standard
Investments in projects are done to realize one or more business benefits. With margins
being under pressure and (international) competition increasing, the emphasis will be more
and more on the actual business value – instead of just keeping the traditional set of time,
cost & scope variables under control. In addition, the desire to have full (project)
accountability will increase over the next three years. This means that project ROI will
become more important, together with constant monitoring whether the originally defined
benefits have been realized.
4. Project automation is a no-brainer
The complexity in project management has increased in 2017 due to more
interdependencies between projects. Moreover, projects have more impact and become
more costly. This will strongly increase the need to keep grip on portfolio processes and
project execution. Immediate insight and more transparency is therefore required. Keeping
all dependencies between projects aligned, avoiding human mistakes and automating
reporting cycles to save on resources (thus) requires advanced automation of PPM
processes.

2.
Conclusion
In 2017, ‘changing the business’ will be equal to ‘running the business’. Organizations will be
in a state of constant change to stay ahead of competition. To address this, they will execute
upon an on-going series of business projects. These projects help them keep up with the
large influx of new business models, continued pressure on margins and on-going
globalization. So, over the next 2-3 years, organizations need to radically professionalize
their PPM processes to be ready for the future.
For more information and download of the accompanying infographic:
https://www.fortesglobal.com/en/infographic-4-game-changing-trends-ppm