10 Benefits of Adopting Project Portfolio Management.

The complexity, cost and size of projects have grown exponentially in recent decades. So, too, have the number of projects undertaken by organizations. Taken together, it's no wonder that managing projects efficiently and completing them successfully have both become critical priorities for many organizations. In fact, the success of projects has become so central to enterprise success that the Project Management Institute (PMI) has labeled the commerce of this age as the Project Economy, saying it's an era "where organizations deliver value to stakeholders through successful completion of projects, delivery of products, and alignment to value streams." PMI put the value of worldwide project-oriented activities at $12 trillion in 2017 and has estimated that it would grow to $20 trillion by 2027. The volume and value of projects has necessitated the need for strong oversight of project costs and delivery. As such, many organizations have implemented the project management discipline, and they've increasingly also adopted project portfolio management.