It is important for project managers

It is important for project managers to understand where their project fits into the organizational strategy. What organizational goals does it support? Does it support the organization's vision and mission? How are the organization's MBT Panda Sandals,values being expressed in the execution of the project? It is equally important for a program manager, with responsibility for an initiative, or program, which involves several projects, to understand how the program supports the organizational strategy. The program manager needs to make sure the individual projects align to organization strategy, and that the project set as a whole that make up the program support that vision. Project Portfolio Management is concerned with selecting the projects that best support the organization's vision and strategy.

PPM works with a list of candidate projects and assembles critical data on each, such as cost, resources, purpose or objective, expected return, risks, and more. With a formal strategy in hand, assuming there is one, the PPM process involves mapping the products to the various elements of the strategy. One of the keys with such data is to be realistic by checking assumptions versus actual on projects and programs in the portfolio MBT Fumba, over time. Establishing the appropriate parameters for this data is important to accomplishing the desired results.