Benefits and Issues of Project Portfolio Management

This report discusses the benefits and issues related to managing two projects simultaneously: implementing a Project Portfolio Management (PPM) software tool and strategic planning software in a program. The PPM software helps with project scheduling, resource allocation, risk management, and tracking progress, while the strategic planning software enables setting goals, tracking performance, and collaborative task management. However, issues arise when incompetent team members are assigned tasks, resources are not identified correctly, and communication breaks down due to multitasking and unclear expectations.

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Benefits and issues for the management of project portfolio
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implementation of strategic planning software
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Introduction
It is important that the manager and the team who is working on a project share common goals.
If they don't work with a shared vision, the project objectives cannot be met. When two projects
are managed at the same time, the possibility of ambiguousness and mistakes increases.
Therefore, it is necessary for the project manager and the team to understand the differences
between projects if two or more projects are implemented at the same time. The project goes
through certain development phases and if these are made clear to the managers and executives,
the control on the project can be maintained in a more efficient manner. The project life cycle for
the both the projects differs too so it is important to understand the difference between the two
projects and the different benefits of the project. In this report, specific benefits and issues for
the management of the 2 related projects: implementation of the project portfolio management
(PPM) software tool and the implementation of strategic planning software in the program will
be discussed.

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Benefits for the management of the 2 related projects in the program
The software for strategic planning is that software that covers many topics related to business
organization, methodologies, reporting, and modeling.
This helps in the planning for the future and for strategic management. With this software, a
blueprint of the entire business plan can be created both at strategic and execution level. Hence,
an entire overview can be seen about everything that is required, going on in the company and is
coming together. Then the monitoring initiatives also become easier than ever.
With the strategic planning software, the goals can be set for the team, and the performance can
also be tracked. With this software, the executions of the plan and objectives can be done by
assigning, tracking and collaboratively conducting the tasks. It becomes easy to manage and
maintain the consistency of the performance of a team, and the members can also be held
accountable for their tasks. The members of the team can see that what are the expectations that
they have to fulfill and how they fit into the big picture (Dalcher, 2015).
This software helps the people in the company to collaborate, and management of tasks become
easier. The people are clear about the work that they have to do and why they have been assigned
that particular work. Overall progress can be tracked and also, the progress of separate
employees can also be tracked (Donzelli & Donzelli, 2006).
The management of Project Portfolio Management (PPM) systems helps in the planning of
schedules of the project, and it allocates the resources. In companies, there are many projects that
run simultaneously and the staff also gets rotated so this software makes sure that appropriate
staffing is done for the projects, the budgets are allocated on time, and the activities of the
project are also delivered at right time.

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The software PPM helps in predicting the future needs of the project and staff. It also determines
the ROI for the commitments that the project makes. PPM manages the potential for risk. There
are some administrative measures that the PPM software handles like cataloging the workloads
of individuals, tracking the time, etc.
Project management systems record and organize the minutia involved with executing and
delivering a successful project, while products in the PPM category manage project portfolios at
a larger scope and higher level than project management systems.

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Issues related to the management of the 2 related projects: implementation of the project
portfolio management (PPM) software tool and the implementation of strategic planning
software in the program:
The tasks related to the projects are sometimes assigned to the person who is incompetent to
manage it and do it at the correct time. The right resources are not identified many times which
leads to failure of all the effort in the project. The people for the project are selected on the basis
of their availability and not on the basis of their skills (Dalcher, 2015).
It is difficult to bring all the people involved in the implementation of the project behind the
project. The team fails to get built, and if it gets built, it does not meet the objectives on time.
The support from the required departments is difficult to obtain. The role clarity of the people
does not happen and until the end of the project, they don't understand their true contribution to
the implementation of the projects. Also, if the evaluation criteria are not set in advance, people
don’t get motivated to perform.
The executives take part when the project gets planned and starts but in the mid of its
implementation the executives stops buying in which reduces the pace of the implementation and
hence both the projects can fail.
When more than one project is put into practice, some people gets slow down as they don’t bear
the pain of multitasking. Then a lack of communication is another issue in this. The assumptions
that people make leads to failure many times as they don't get clarity from their supervisors about
what needs to be done. When two projects run at a time, there is a lot of confusion while
communicating and people often save themselves from communicating their issues.

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Any project that doesn't have an ultra-clear goal. there is always a scope for change which is one
of the most dangerous things that can happen to your project. If not handled properly it can lead
to cost and time overrun. Even something small, like changing the color of a logo or adding a
page to a website might cause unexpected delays in the project (Donzelli & Donzelli, 2006).

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References:
Jensen Oellgaard, M. (2013). The Performance of a Project Life Cycle Methodology in Practice.
Proj Mgmt Jrnl, 44(4), 65-83. http://dx.doi.org/10.1002/pmj.21357
Pinto, J. (1988). Variations in Critical Success Factors Over the Stages in the Project Life Cycle.
Journal Of Management, 14(1), 5-18. http://dx.doi.org/10.1177/014920638801400102
Davidson Frame, J. (2013). Program Management: A Life Cycle Approach. Proj Mgmt Jrnl,
44(3), e4-e4. http://dx.doi.org/10.1002/pmj.21344
Dalcher, D. (2015). Introduction to Software Project Management. Proj Mgmt Jrnl, 46(4), e2-e2.
http://dx.doi.org/10.1002/pmj.21514
Donzelli, P. & Donzelli, P. (2006). Decision support system for software project management.
IEEE Softw., 23(4), 67-75. http://dx.doi.org/10.1109/ms.2006.90