As the world has become centered around technology, the scope and reach of tech has permeated every aspect of life and business, which has created a need within organizations to support and create their own technology or tech environments. With this shift, IT and development teams have seen a higher demand, increasingly limited resources, shortening deadlines, and the rapid speed of technology advancements, more teams have adopted Agile methodologies to stay flexible and deliver the greatest value. The shift to agile has created a gap between business and agile development.
Implementing a Project and Portfolio Management (PPM) and Strategic Portfolio Management (SPM) solution closes that gap by effectively communicating strategic business objectives and goals, enabling flexibility, and driving informed decision-making so your teams can increase productivity, optimize resources, and maximize value delivered.
What you can do with an integrated PPM and SPM solution
1. Provide clear communication
Strategy is communicated through portfolios, providing strategic alignment and transparency across all teams to ensure business strategy and outcomes drive idea creation and prioritization of initiatives that will maximize ROI and support the strategic priorities of the business. As value is realized through execution and delivery, the PMO can explicitly communicate the value contributed directly through portfolio initiatives and agile teams can see the impact their work has on the business.
The top-down approach of SPM creates an environment where the lines between business and delivery are more intertwined, eliminating organizational silos and creating more opportunities for business strategy to impact delivery, and visa versa.
2. Improve visibility
With increasing volume of demand with limited number of resources, making decisions that align with business objectives is key. PPM and SPM facilitate decision making focused on strategic and business impact. Strategic and product dashboards, what-if analysis scenario planning, and real-time insights provide the information necessary to avoid guesswork when making decisions. Users can analyze the real-time impact initiatives have on the KPIs impacting strategy and business goals to determine which items should be prioritized to achieve maximum impact given existing resource capacity.
Opportunities can be fleeting, companies need to be able to react to rapid changes in the market and ever-evolving customer demands. With PPM and SPM, business have the data and insights necessary for continuous planning which provides flexibility and agility required to quickly adapt business strategy to pivot and address disruptions or take advantage of opportunities.
3. Drive business value
The combination of high demand and limited resources highlights the need for businesses to focus on the initiatives that deliver the best value. By identifying initiatives with the greatest strategic business impact, you can better allocate resources and funds to focus on activities that align with those initiatives. PPM and SPM allow your teams to focus on executing the right initiatives at the right time, maximizing the value delivered by your teams. What-if scenario planning with real-time impact analysis in our PPM and SPM solutions help optimize your investment mix to deliver better business value, increase performance, and drive business success.
Manage portfolios and maximize business value
While PPM and SPM are two different methodologies, your PPM solution should have SPM capabilities. OpenText Project and Portfolio Management (PPM) drives business value through comprehensive strategic portfolio management and investment optimization, while ensuring projects are on time, in budget and satisfy goals. Our PPM solution includes all capabilities needed to manage traditional, agile and hybrid projects to ensure your portfolios deliver value. Enterprise Agile organizations that need a light-wight portfolio management tool can utilize, ValueEdge Strategy, in conjunction with ValueEdge Agile, to strategically manage their portfolios and maximize business value delivered by agile teams.
Learn more about other key capabilities provided by PPM and SPM that can help streamline your portfolio management and maximize business outcomes. Check out our blog to learn more about the differences between PPM and SPM or come to OpenText World for more of our DevOps solutions,.