Connecting the dots for better decisions: standing up a project management framework that drives value and success

The PPM: Bringing better project data to the table

Technology has long been welcomed as a tool with remarkable potential to support better, faster decisions.?Reliable data and reporting?– in the form of budgets, forecasts, KPIs and more – have always been an essential input for leaders to make decisions on strategic, business and project priorities and resource allocation. However, with?advances in project management platform technology?(PPM), critical metrics of project scope and deliverables, milestones and costs can be more accessible, timely and reliable.

The value of these inputs for decision-making in projects cannot be overstated. They can steer all projects towards greater?benefits-realisation for the business, whether they’re in progress or still up for consideration. With access to real-time dashboards instead of Gantt charts and spreadsheets, leaders can have a clearer view of how projects are tracking and make better decisions on sharing and scheduling resources across a project portfolio.

The ePMO: driving value from project intel

As with all technologies, a PPM requires configuration for an organisation’s particular needs. This is where an enterprise project management office (ePMO) can perform one of its critical roles in realising greater value from project intel. The ePMO acts as owner of the PPM solution, overseeing its design and structure to fit the needs of decision-makers across the business involved in onboarding and delivering projects. When a PPM can present the right types of data and reporting in a format that matches these stakeholder needs, they can be far more efficient and successful in assessing the potential value and impact of projects and make faster and better decisions as a result.

A secondary function of the ePMO that can, at first, seem more directive, is in improving and refining the frameworks decision-makers use to guide the take on and delivery of projects. This role can sometimes be misunderstood as the ePMO actually making decisions to commence or continue projects but this is definitely not the case. It’s their job to develop decision-making principles and practices to connect the three inputs that can drive long-term success: project data, the expected or actual benefits from projects and strategic objectives for the organisation.

By giving decision-makers accurate information and oversight of these inputs and their impacts, a PPM and ePMO framework can support one of three ‘winning’ decision-making practices identified by the?McKinsey research?– making decisions that align with corporate strategy and allocating resources to high-value projects.

Read the full article here: Connecting the dots for better decisions - Hummingbird