As organisations grow and evolve in response to changing market demands, efficient project management becomes more challenging. A comprehensive platform that allows you to stay on top of various projects, allocate resources appropriately and ensure stakeholders are kept informed about project progress is crucial for continued business success.
Microsoft Project for the Web is a powerful, cloud-based project planning and portfolio management system (PMS). Whether you are a small business or a large enterprise, it will elevate your portfolio and drive better business outcomes.
In this article, we will discuss the benefits of portfolio management and introduce the features and capabilities of Project for the Web, Project Accelerator and Power BI. We explore how Microsoft 365 solutions can be used to transform your project activities.
What are the benefits of portfolio management?
Portfolio management involves selecting and managing a group of projects to achieve specific business goals. Instead of evaluating projects individually, consider their collective impact as a unified portfolio. By bridging the gap between strategy and implementation you will position your business for sustained growth and success.
Use a PMS to collect all the information associated with each project and compile it in a high-level view where it can be easily analysed. For example, you can consider factors such as budget and resource availability and the diversity of your portfolio.
This approach enables you to keep an eye on how projects contribute to overarching objectives. Obtain stakeholder buy-in, optimise your resources, mitigate risks and much more. It is important to continuously review and adapt your portfolio based on new opportunities and challenges. Decision makers can then make informed choices about which projects to prioritise and fund, based on their strategic importance.
What is Project for the Web?
Project for the Web simplifies project planning, execution and tracking in one versatile application. Gather data such as timeline, scope, budget, deliverables and other key information, then securely store it in Project for the Web’s central database for ease of access.