Despite significant investments in Project Portfolio Management (PPM) in the last decade, research shows that businesses are not realizing anticipated results. Unreliable planning, cost overruns and high project failure rates are costing businesses up to 46% of their planned business value from portfolios.
The reasons are many. Project Management Offices (PMOs) tend to focus on the tactical aspects of project execution rather than taking strategic responsibility for optimizing the spend. Integrating financial management best practices with PPM would allow the PMO to gauge the economic impact of under-performing projects and take immediate action; however, integration is inherently challenged due to a reliance on disconnected Excel spreadsheets and tools lacking the sophistication needed to manage project and portfolio financial performance.
UMT360’s Enterprise Portfolio Management solution transforms PMOs into strategic functions by digitalizing investment planning and controls across the PPM lifecycle providing the transparency and financial insight needed to make informed decisions which will maximize ROI from every dollar invested in strategic initiatives. UMT360 eliminates the need for Excel and bridges the gap between ERP and PPM systems so that the PMO can focus on analysis and taking corrective action rather than manually reconciling data and building reports.
UMT360 for Project Portfolios helps you:
Gain Visibility Across All Enterprise Investment Requests
The powerful demand management and governance controls provide complete visibility across the capital spend, streamline capital planning and ensure cost and benefit estimates are captured at the right level of detail to improve estimating accuracy.
Track Cost Performance & Manage Change
Status reports track each project’s performance throughout the lifecycle and actuals from ERP systems are synchronized and automatically compared with the budget to provide real-time variances. A flexible change request module controls incremental funding requests and routes to the appropriate stakeholders.
Analyze the Portfolio & Reallocate Funds
Powerful dashboards provide instant and intuitive access to the insightful reports needed to analyze the portfolio, identify under-performing projects and make proactive decisions to reallocate funds to maximize ROI.
Establish a Benefits Realization Framework
Establishing a benefits realization framework determines whether projects delivered desired results, drives accountability and encourages stakeholders to more accurately provide cost and benefit estimates.
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