Why do Associations Need Project Portfolio Management?

To ensure strategic alignment of Association Projects

The main goal here is to ensure that portfolios of projects truly reflect the association’s strategy; that all projects are on strategy, support the strategy, or are critical components of the strategy; and that the allocation of spending across projects, areas, and markets is directly tied to the association strategy.

To maximize the value of the portfolio for a given spending level.

That is, one selects projects to maximize the sum of the expected benefits of all active projects in the pipeline in terms of some business objective or strategic imperatives.

To see the right balance of projects … flows logically from the first goal, strategic alignment.

Right balance in terms of a number of parameters, e.g. long-term vs. short term, high-risk vs. low risk, across various markets, technologies, product categories, and project types.

To efficiently utilize constrained resources.

The organization is limited by the resources it can apply to the portfolio. PPM seeks to apply constrained resources to the projects providing the most value to the association.

Ultimately and most importantly, PPM improves chances of achieving strategic objectives and the association’s vision. Associations that recognize the need for disciplined planning also understand they need PPM to apply scarce resources only to projects that best help achieve their strategic imperatives.

Bridge Association PPM (1024x683)

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