So how can I use my PPM to mitigate risk? Lisa Erickson-Harris explains...

I wouldn’t be alone in telling you that investment in IT is still a good bet in 2009. Many are even saying that technology will play a strong role in the economic recovery. In my opinion, this could very well be the case. Research data collected by EMA as recently as October, 2008 shows no dramatic decreases in IT budgets to date. Of course, this may or may not change as we head further into 2009.

Yet, it is undeniable the economy is struggling and as IT professionals¾key players in the overall business team¾it is important to contribute to the larger picture of the business where sacrifices are being made. Scrutinizing IT investments is one very smart way to operate IT as a business within a business. Project and portfolio management (PPM) solutions and supporting processes are definitely a part of this picture.

When the economy and business climate is tumultuous, businesses need to stay focused. PPM can help to bring that focus to IT and provide the visibility and insight needed to keep important projects and initiatives on track. Without effective project management, many efforts start out in good stead, but fall inevitably to the wayside when a more pressing priorities come along. But a project management program pretty much eliminates excuses as long as the people running the program bring on board all the key stakeholders. Projects get done, efficiencies are created, and innovation plans put into place. In short, PPM helps IT sharpen its priorities and get the job done.

In its simplest of forms, PPM provides visibility for tracking and managing new and existing projects within an organization. It mitigates heavy demands on staff resources with projects and initiatives that compete for the same budget dollars. It’s an easy topic to grasp if you merely look at the basic functionality required to manage projects. This “basic” functionality includes projects, schedules, resources allocated, status, and actual versus project budget allocations. PPM tools provide all of these capabilities, but they can do much more. If used well, they can be a CIO’s best friend for keeping IT on track with business objectives.

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Another great post by Jeff Monteforte about PPM best practices

There is always more than one way to do anything (well, most things anyway) and then there are the ways that work best, writes PM Planet columnist Jeff Monteforte of Exential.

If you've been reading my series of articles on project portfolio management (PPM), then you know by now that PPM is the preferred industry technique being used by more and more companies to systematically evaluate and choose technology investments that provide desired business benefits.

While there is no single right way to do IT project portfolio management, there are best practices that all PPM specialists agree on.

The first such best practice is to establish the portfolio. The three essential steps required in building and organizing your first project portfolio are...

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How NOT to succeed with your PPM efforts

Here is an interesting post from Jeff Monteforte that spells out the fastest way to screw up your project portfolio efforts.

http://www.projectmanagerplanet.com/leadership/article.php/3707256

Is project management really that hard?

I was recently asked that question by a family member that was trying to understand what I do as a PMO manager. Seems like a loaded question, right? It can't be that hard can it? As with many things in life the answer is "It depends!". I have seen PMs that make managing complex projects with multiple dependencies look like child's play. They are the exception though. Project management is essentially about communication and planning. Seems easy enough, right? Well, try pleasing 10 different project stakeholders that are all type A personalities. That takes a special person that knows how to navigate the mine fields between project initiation and project closure. Often a project manager does not own the resources that are working on their project. In other words, you have the ultimate responsibility for the project success, but you do not manage the resources. This matrix organizational structure is very common in many organizations. Getting the most out of employees that do not report to you can be challenging. So, that was my long answer....my short answer is Yes!

I recently found the following jokes about project management on projectmanagementideas.com.

They wouldn't be funny if there wasn't some truth to them :)

- There are no good project managers - only lucky ones.

- It takes one woman nine months to have a baby. It cannot be done in one month by impregnating nine women.

- The sooner you get behind schedule, the more time you have to make it up

- Everyone asks for a strong project manger - when they get one, they don’t want one.

- Good project management is not so much knowing what to do and when, as knowing what excuses to give and when.

- Nothing is impossible for the person who doesn’t have to do it.