PPM Software: What Is It, and Does Your Business Need to Use It?
Project portfolio management (PPM) is an often-misunderstood component of business planning and overall strategy. It is similar in name to project management (PM). That’s why many new entrepreneurs and managers mistake the two for being comparable. However, PM refers to the process of allocating resources to and effectively executing individual projects. In contrast, PPM is the process of determining which projects to take on. Additionally, this process includes allocating the right project managers to be responsible for each project. It also includes organizing timelines, predicting profitability, and keeping all processes in line with the company’s overall goals. The question is, do you really need PPM software to accomplish the responsibilities of a project portfolio manager?
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