Project and Portfolio Management (PPM) Solutions for Multiple Market Segments
Research and advisory company Gartner1 defines four Project and Portfolio Management (PPM) market segments:
- PPM for IT (IT PPM) – this is the market segment most commonly and frequently covered by Gartner and other research/analyst firms. These tools primarily focus on supporting IT projects and the allocation of specialist IT resources.
- PPM for Product Development (NPD PPM) – the objective of this segment is to enable organizations to drive high-performance innovation and new product development (NPD) initiatives from business strategy, through planning, ideation, process and project management, resource planning and portfolio management.
- PPM for Professional Services – this segment supports consulting and system integration companies to manage their projects and engagements, allocate and optimize their people resources for optimal utilization, and produce highly effective results for satisfied customers.
- PPM for Engineering and Construction – this segment supports the need for engineering and construction firms to sustain and continuously improve reliable delivery on large, complex and high-cost projects while improving process efficiency and meeting profit margin objectives.
Sopheon’s Accolade solution covers all four Project and Portfolio Management (PPM) market segments. Companies behind many of the world’s leading brands use Accolade for their NPD PPM strategies, initiatives and projects. A number of Accolade customers are IT divisions of large companies who use the software for managing and planning IT solutions, applications, technologies and resources.
Accolade powers some of world’s largest industrial engineering and construction capital projects, including massive chemical industry projects. In addition to customers, Sopheon uses the Accolade solution to manage its professional services organization and team to deliver projects to our customers.
Typical challenges companies face with Portfolio Management
Gaps in Alignment
Too Many Low-Value Projects
Low Success Rate
Effective Portfolio Management is the common critical success factor for businesses across all four Project and Portfolio Management (PPM) market segments in support of key goals:
- Maximizing the portfolio value.
- Establishing the right balance of projects.
- Prioritizing initiatives to allocate resources to the best projects.
- Strategic alignment of the portfolio with the business strategy and objectives.
Learn more about Sopheon’s solutions for Project and Portfolio Management (PPM):
1PPM Markets: From General Purpose to Market Segments to Enterprise, Published: 31 March 2010
2“Product Launches Hindered by Major Challenges”, CGT September 2011
1Product Development Institute