At the Turku University of Applied Sciences, Thinking Portfolio, affectionately known as TEPPO, is used for project planning, portfolio management, resource allocation and working-time monitoring. With the previous system coming to an end, it was time for a new project portfolio tool. Indeed, the former system simply could not meet today’s demands and users were looking for an application that better supported their work. One of the key criteria was the ability to motivate the user During the planning stage, [...]
For Gasum, Thinking Portfolio is a strategy, investment and IT portfolio. Currently, the most prominent area is investments going forward. In addition to the progress of investment projects, financial data and investments are monitored as a whole. According to Gasum’s Engineering Manager Mika Simola, reporting is done directly through the system.
For the execution of any project, organizations require resources such as people, material, equipment, time, knowledge and skill. But these come at a cost and so no firm has unlimited access to a range of resources. For maximizing profits, it is therefore important to share the available resources judiciously among projects such that all project deadlines are met while quality output is generated. That is why resource management is a critical aspect of any project, especially for efficient financial operations.
Thinking Portfolio was acquired as a replacement for earlier project portfolio application to address the evolving needs of the project and portfolio processes involved in development operations. According to Development Manager Sari Alm, Thinking Portfolio not only provided all of the necessary functions, but boasted many other welcome features as well.
Peikko Group has expanded quickly in recent years. The speed of growth has brought its own share of challenges from controlling project operations to steering operations in the right direction. According to Project Controller Satu Kannelvirta, the Thinking Portfolio’s project portfolio is an invaluable tool in managing growth, providing a general overview of project operations.
When the VR passenger services sector was looking to acquire a project portfolio, the various options were explored extensively. Thinking Portfolio was deemed to best serve the needs of the organisation. During the procurement stage, VR evaluated the features of competing applications and interviewed Thinking Portfolio’s customers, who added fresh impetus to the decision to implement the service. Another positive was Thinking Portfolio’s price point compared to its competitors.
Planning for a project requires a lot of decisions to be made on intuition and experience. There are times when shortcomings in the planning phase lead to disruption during execution. There are times when targets of the project are not met. No matter how unfortunate it might seem, when one notices early signs of failure one should terminate the project immediately to prevent further loss of time and resources.
Communication plays an important role in maintaining a good workplace culture. Effective and consistent communication is the key to creating an amiable atmosphere at an organization. Workplace culture starts at the top rung of the corporate ladder. It is up to the top level executives to establish smooth and efficient communication. Efficient communication is not established in a day. It is something that takes a considerable amount of time and effort.
One of the most vital qualities of leadership is to be able to inspire others by achieving goals through extraordinary performance. At the end of a project, your team should feel motivated to perform at exceptional levels, matching your passion and enthusiasm. Here are seven habits that make a PMO leader charismatic and inspirational.
Project management officers are vital to any business as they can take important decisions that lead to great ideas. While good PMOs are hard to find, great ones are even rarer. However, all good PMOs share certain traits and characteristics that make them an effective and valuable part of the team. Here are six of the best traits you should cultivate to become an effective and profitable project management officer in your organization.
Project management can be a complex task but writing a sound and well-researched business case could turn around even the most disastrous of situations.
According to the Project Management Institute, an increasing number of organizations are reporting added value with the appointment of a chief project officer. The chief project officer is someone who owns the responsibility of governing the internal projects of an organization. Some of the specific duties of such as officer include: Ensuring each project is supportive of business goals Driving linkages and efficiencies between projects Connecting every project to business strategy Making sure that each [...]
Agile is considered to be a repetitive method for executing software delivery. In the Agile approach, the aim is to develop software in small increments by taking into consideration important feedback from the environment. It is different from the conventional approaches, such as the Waterfall methodology because the complete solution is not delivered at once.
Virtual reality is no longer limited to the gaming industry. It has found its application in several other verticals including manufacturing, construction, social networking and education and training. There has been a significant increase in ‘remote work’ in the last few years. Several companies have globalized workforces and spend over $1 trillion each year on their travel. Embracing Virtual Reality in Project Management Employees in virtual teams typically face communication challenges due to ‘no proximity’. [...]
There are times when a manager can achieve the most by bailing out of a project. This does not mean quitting when the going happens to be a tad tougher. People who are productive rarely surrender sans a fight. There could be times, however, when the personnel hit a point where returns start diminishing every passing day. This is the time when further investment in resources could be waste of money. Even big companies flop [...]