Oracle Project Portfolio Management Overview

What is Oracle Project Portfolio Management

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 one of Elire’s Cloud Certified Consultant, for additional insight into PPM considerations. Check out what they had to say 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. Large companies wanting to keep a close eye on costs, and tracking 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. Without a proper change management strategy in place, it can be tricky to foster adoption of change throughout your organization. The time and effort spent on delivering a PPM implementation is wasted if your team isn’t ready to perform their jobs in the new system. Implementing an Organizational Change Management strategy complete with, communications, change champion programs, are all tools and strategies at your disposal that will help maximize the value of your PPM.

Implementation and user adoption can be complex. 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 is a powerful function. The ability to forecast project costs and track current costs is one of the key functionalities of Project Portfolio Management. The revenue side of Projects allows your to track the capitalization of assets and also allocate capital to projects.

The functions that Project Portfolio Management has to offer are robust and comprehensive. Service and project-based organizations are responsible for dealing with many different kinds of challenges and roadblocks on a daily basis. Effective Project Management is critical to ensuring the successful usage of resources across your organization.

Elire hosted a webinar detailing ways to effectively manage project costs and resources by leveraging the power of Oracle Cloud PPM. Our SMEs detail the future-ready project applications. You’ll see better ROI on your ERP application by extending your organization’s use of PPM. Take advantage of the full functionality and find opportunities with enhanced Project reporting. Take a look at the webinar recording below:

Dive into our other PPM articles in this series and discover the steps of how to Build a Project Plan and Budget here.

For more information on Cloud PPM check out this piece on Project Performance Tools and Reports and gain the hands-on knowledge you need to make an educated implementation decision. In the meantime, view these and additional resources on our Cloud ERP Industry Insights blog page where we host our library of Cloud ERP webinars and blog posts.

No matter where you are in your Cloud journey, Elire is here to help. Our team of experienced consultants are ready to assist you in every step of your Cloud process. From implementation to optimization, our Cloud ERP team is ready to meet with you and discuss and problem-solve your organization’s unique needs.

Reach out to [email protected] to connect with us and set up a time to discuss your current pain points and desired future state. We hope to hear from you soon!

  • Ms. Caron serves as Elire's Marketing Specialist, specializing in content writing and digital media communications. Maddie works to deliver relevant industry updates and technical blog posts to educate and engage Elire's audience.

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