Forrester Inc. came out with its much-awaited Forrester Wave report on Project/Program Portfolio Management in December 2012. As expected, the report highlighted some key industry trends that are redefining the scope of PPM and shed light on what to expect going forward. As per the report PPM now has two distinct segments: Planning and Execution. Here are some excerpts from the report:
Demand for Business Agility Drives Change to BT Governance Processes: Accelerating demand for business agility forces firms to adapt. Manual data entry and ponderously slow feedback loops from planning-as-usual don’t enable firms to pivot as business conditions change. Today’s organizations need to see and trust information as it develops to make decisions that will help them outpace their competition.
The PPM Tools Market has a New Dividing Line — With Key Features on Both sides: The need to support Lean and Agile processes makes today’s PPM tool choice more difficult. Above-the-line tools support strategic planning focused on value, risks, and benefits. Below-the-line tools focus on managing demand and day-to-day work. Several vendors have functionality that straddles the line, but few vendors are strong across the board.
One-size-Fits-all is No Longer Relevant — It’s Time To Take a Layered Approach: As firms turn to Agile and Lean practices, a single PPM tool may not make sense. Think more in terms of constructing a “layered approach” to PPM. Seek flexible solutions that handle the day-to-day work for both waterfall and Agile projects (below the line) that also convey aggregated information to more strategic (above-the-line) planning.
The report further deep dives into the changing face of the industry and highlights that demand for business agility will continue to fuel adoption of Agile development techniques that can deliver differentiating business technology (BT) solutions within accelerated time frames. Organizations that fail to adopt governance processes that span traditional waterfall and Agile will struggle. Also, while PPM has historically been seen as a tool for either top-down forecasting and planning or for project management, organizations rarely use a single tool for both purposes.
In this report, Forrester Research, Inc., evaluated 10 of the most significant PPM vendors against 68 criteria in two segments: above-the-line strategic planning and below-the-line work execution.
To access the complete report, click here.