Project portfolio management (PPM), once a solution only larger organizations could afford, enables companies to analyze, recommend, authorize, activate, expedite, and monitor projects. In recent years, however, small to medium businesses have been able to benefit from PPM too, through software-as-a-service models of this tool.
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The AMA Handbook of Project Management (2nd edition), PPM, when used to its full potential, can assist organizations to realize the following goals: an estimated 20–30 percent reduction in the time it takes to develop new products significant improvement in completing projects on time and on budget improvements in research and development (R&D) productivity How Organizations Should Support PPM To support a PPM system, organizations must have an internal process for each of the following: 1. Governance