Project and Process Management Features and Functions
Project portfolio management (PPM) features and functions help organize a series of projects into a single portfolio consisting of reports that capture project objectives, costs, timelines, accomplishments, resources, risks, and other critical factors. Executives can then regularly review entire portfolios, allocate resources appropriately, and adjust projects to produce the highest departmental returns. In addition to portfolio and project management features and function, typical PPM solutions include features and functions for resource planning and scheduling, customer support, contact management, time and expense management, financial management, budgeting, costing, knowledge management, analysis, and reporting. To find the best PPM system for your business, it's important to understand which features and functions you need before you compare PM solutions.
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Product Development and Portfolio Management
The Product Development and Portfolio Management Knowledge Base covers the execution processes of new product development projects and programs, including phase-gate processes. It also addresses Product Portfolio Management (PPM), including the evaluation processes of new and existing products and product portfolios to provide the most valuable, balanced, and well aligned portfolio of products.
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Business Process Management (BPM)
Business process management (BPM) defines, enables, and manages the exchange of enterprise information through the semantics of a business process view, which involves employees, customers, partners, applications, and databases.
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PPM for Internal Departments
A business practice that assists organizations to align their portfolio of projects with their business strategy. Typically IT departments employ an IT governance framework to ensure that their PPM strategy is put into action. With the increasing demand of IT departments to justify their project investments, PPM software has risen in popularity as the tool of choice. It allows both executives and IT decision makers to gain insight into their IT portfolios. PPM software allows IT managers to prioritize projects, allocate resources where needed, and gain financial insight into their portfolio investments.
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PPM for Professional Services Automation
A business practice that assists organizations to align their portfolio of projects with their business strategy. Professional services automation (PSA) refers to a system designed to streamline and track resources, projects, portfolios, revenues, and the costs of professional services organizations (PSOs), which provide billable services to their clients. Consequently, PPM for PSA provides both the high-level monitoring of project portfolios as business investments and automates the project-specific functionality of time, billing, expense reporting, opportunity management, and resource management, linking back office functionality with the PSO’s portfolio of projects.
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Software Evaluation Features and Functions
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