The combining of the Portfolio tools with the Project, Program Management tools and the introduction of enterprise, web based technology is relatively new—coming into the forefront of capabilities in year 2000—2002 period. The application of these tools has now been popularized as PPM (Portfolio, Project Management].
Robust PPM technologies, simply put, encompass portfolio planning; project and program management scheduling, resource capacity management, and document management. These most advanced technologies now use an enterprise capability—which is a single, central database with user security access control; and web based information access. The concept of a central database with web access for a project management system can best be shown by the adjacent diagram.
Understanding the both aspects—top down and bottom up and then choosing where to start – Portfolio or Project/ Program Management are is always an issue of major importance. The organization needs to identify the “unrealized value” issues in “doing the right projects” or “doing projects right” – see adjacent diagram.
These methodologies are very powerful and to apply them requires the use of new web based technologies developed by six major and other software technologies. All the most robust PPM technologies in the world have been defined and researched by three major research organizations—Gartner Research, Forrester Research, and IDC (International Data Corporation). These studies and the resulting data and information published define the functionality, the breadth, and capability of portfolio, project, and program technologies. This is displayed for example, by Gartner Research, one of the most respected research companies, in a four quadrant methodology.
For more information on how to apply and deploy these capabilities, please read more: PPM Technology White paper.