The most successful organizations are going to be the ones that find ways to differentiate themselves. Projects are the life-blood of professional services firms and these firms are increasingly recognizing that portfolio and resource management can help them make the decisions that will set them apart from their competitors. Maximizing the productivity of their most valuable resource – their people, requires bringing in projects, staffing them, executing them, and managing them in the most efficient and effective way possible.
Effective portfolio and resource management translates to greater revenue growth; higher revenue per employee; better project margins; fewer project overruns; higher billable utilization and significantly better overall margins. Optimizing these processes provides value throughout the entire project life-cycle and leads to satisfied clients and happier employees. Having the right person with the right skills on the right job at the right time is the essence of effective portfolio and resource management.
Portfolio management does not have to be a complex and overwhelming process. At the core, portfolio management is simply a commitment by an organization to look at all of its projects as part of a collective whole. That kind of attitude doesn’t require organizations to have reached any particular size or maturity; it simply requires commitment and vision.
However, project based organizations do have unique challenges with portfolio management. It is a daily challenge to effectively manage information and resources as they relate to project execution.
Download the whitepaper to learn how to address these challenges and the key metrics for effective resource and portfolio management.DOWNLOAD PDF