Project Portfolio Management Overview: what is it and how it will help your organization

Project-based organizations face a number of unique and specific challenges. Oftentimes, it can be a struggle to accurately and efficiently manage and track costs. Understanding the plan vs. budget vs. forecast for costs is critical to delivering accurate and cost-effective results for your projects. Oracle Project Portfolio Management is a key resource and tool which allows organizations to see the big picture and track every project.

 

At a high level, Oracle Project Portfolio Management Cloud is a complete, integrated solution that dramatically improves the way project-driven organizations work. It enables efficient and effective project management while ensuring smarter business decisions based on a single source of project truth. Project professionals benefit from its ground-up design to keep pace, keep score, and deliver extraordinary business and project insight. Mobile and embedded social capabilities also ensure consistent communication in a secure, collaborative, team-based environment for project delivery success.

 

Oracle PPM Cloud transforms process automation and information access to simplify controls, increase productivity, and improve business decisions. The result is a fully integrated and automated solution, designed to improve the way project-centric organizations work, from the project executive and business stakeholder, to the project manager, resource manager, and the project team member.

 

We interviewed Elire Cloud Certified Consultant, Brandon Sell, for additional insight into PPM considerations. See his insight is below:

 

Who is it most useful for?

Any current Oracle Cloud client not currently using PPM can benefit from a PPM implementation. Service organizations will find PPM most useful. More specifically, organizations providing services with expenses that require allocation (especially the allocation of people and time) will find PPM particularly helpful. PPM allows for the tracking of the whole lifecycle of a project, and large companies wanting to keep a close eye on costs and track their expenses will find PPM to be a very valuable tool.

 

What are some roadblocks to implementation? 

Change management and training need to be considered. It can be complex. Also, the design process of implementation is very important. It’s critical to hash out and have everything down from the beginning and create a realistic timeline. Projects are fluid, once an implementation is over, there are things that need fine-tuning. Project Maintenance, including part-time resources on the client-side, is often needed.

 

What is the most powerful function of Projects? 

The cost side of the project, as well as the revenue side of Projects, are particularly powerful tools. The capitalization of assets is also an important feature where you can allocate capital to projects.

 

Be on the lookout for further posts and information centering on Oracle Cloud PPM in our next piece “Understand a Project Plan and a Project Budget”. For more information on Cloud PPM, check out these resources here.

View our PPM Webinar Recording

Have questions? Connect with an Elire Team member here and send any inquiries here: [email protected]