Project and portfolio management (PPM) is a strategic approach to managing your organization's portfolio of projects and resources to achieve business goals and objectives. PPM involves prioritizing projects based on their alignment with the organization's strategy, allocating resources, monitoring performance, and ensuring that projects are completed on time, within budget, and to the required quality standards.

Project and Portfolio Management is important to your business because it provides a systematic approach to managing your investments in application and software development. This helps maximize the value of your investments and avoid wasting resources on low-priority or poorly executed projects.

PPM uses workflows and data to prioritize projects based on their strategic value and expected impact on the business, and it aligns your investments with application development strategy. PPM helps focus development resources on the most important projects and allocate investments to high-value projects. This helps your business achieve its strategic objectives and maximize the return on your investment.

Together, top-down and bottom-up analytics inform your strategic decision-making and ensure that projects align with your business’s overall goals and priorities.

Top-down analytics are useful for identifying high-level trends and patterns that can inform strategic decision-making. This involves analyzing your data, like project performance, resource utilization, and budget allocations, at a high level to identify trends and patterns across the organization's project portfolio.

Bottom-up analytics, on the other hand, involve analyzing data at a project level to identify specific issues or opportunities. They are useful for identifying specific issues or opportunities that can inform tactical decision-making. This includes analyzing data on project risks, issues, and dependencies.

There are several benefits of using PPM for application and software delivery:

Improved visibility and decision-making: PPM provides a centralized view of all projects, allowing stakeholders to see the status of each project, resource allocation, and progress toward milestones. This visibility helps decision-makers to make informed decisions about resource allocation, prioritization, and project management.

Increased alignment with business strategy: PPM helps organizations to align their project portfolio with their business strategy, ensuring that projects are focused on the most important objectives and that resources are allocated accordingly.

Better resource utilization: PPM helps organizations ensure allocate resources effectively across the project portfolio. This can help to reduce bottlenecks and avoid overallocation or underutilization of resources.

More efficient project management: PPM provides a structured approach to project management, helping organizations to plan and execute projects more efficiently. This can help to reduce the risk of delays, cost overruns, or other project management issues.

Improved collaboration and communication: PPM facilitates collaboration and communication among project teams, which can help to identify and address issues more quickly.

Enhanced risk management: PPM provides a structured approach to risk management, helping organizations to identify and mitigate potential risks across the project portfolio.

PPM provides a structured approach to planning, executing, and monitoring your projects. PPM ensures that projects are completed on time, on budget, and meet the required quality standards by defining project objectives and priorities, allocating resources, and monitoring performance against key metrics. PPM also helps to facilitate collaboration and communication among project teams, which may help identify and address issues more quickly. PPM provides a framework for managing your application development projects, which streamlines and expedites your project delivery process, reducing the risk of delays or cost overruns.

PPM also helps your business manage risks throughout application and software delivery by providing a framework for identifying potential risks and issues, assessing their impact and likelihood, and developing mitigation strategies to minimize their impact across your project portfolio. Project and Portfolio Management helps monitor risks and issues over time and tracks your team’s mitigation progress.

PPM helps with Agile development by providing a structured approach to managing projects that are characterized by rapid iteration and frequent change by integrating with Agile tools. This includes defining project objectives and priorities, allocating resources, and monitoring performance against key metrics. PPM can also help to facilitate collaboration and communication among Agile teams, which is essential for effective Agile development. PPM provides a framework for managing Agile projects that helps to ensure that projects are aligned with the organization's overall strategy and priorities, while also allowing for the flexibility and adaptability required by Agile methodologies.