By Stephen S Bonham
Indicates pros find out how to combine functionality, approach, portfolio, venture, and hazard administration so their businesses can reply extra quickly and successfully in a hugely aggressive surroundings. This quantity explains how technique portfolio administration builds a company knowledgebase that controls strategies.
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Extra resources for Actionable Strategies Through Integrated Performance, Process, Project, and Risk Management
But they should then be integrated to avoid experiencing the gaps that occur when they are siloed. The value-adds listed in this section show that by covering these gaps, potential problems can be avoided. Also, when implementing PePPR components, there is an opportunity for cross-training around common elements of the various methodologies and frameworks. Integrating PePPR management components allows strategic planners to consider the balance of factors that affect how a company functions. The needs to improve the visibility of capabilities and to improve the execution of goals are the two tenets of this approach that should be core objectives of any organization.
Process improvement is also the prime source of projects for the portfolio of projects. However, it is far less common for organizations to integrate processes that support project portfolio, performance, or risk management into their portfolio. The process portfolio is primarily made up of those activities that support the ongoing operations of the company. 9, feed 11), risk submission and tracking (feed 10), and metric improvement and implementation (feed 12). The dotted arrows show how some risk management and performance management processes can be indirectly derived from a need to support the project portfolio.
Again, such projects should be lined right up alongside process improvement projects in the project portfolio, then prioritized for risk, alignment, and return. 3. Projects to improve performance metrics: When the target levels for a set of performance metrics are found to be subpar as compared to an industry, further competitive and market analysis may need to be done. But when it is found that incorrect metrics are being observed or that the metrics being observed reflect incorrect information, projects are initiated to resolve these problems.