Project Portfolio Management tools (PPM) are commonly used within organizations worldwide, but these tools can only address a fraction of the strategic needs of those businesses. Where PPM tools fall short, strategy execution management software like Shibumi closes the gap.
In this blog post we’ll talk to the differences between these two types of technologies, and the important roles they play in successful program execution.
Differences between PPM and Strategy Execution Management
PPM
Project Portfolio Management allows companies to keep track of the actionable tasks and timelines across simultaneous programs. They can help provide transparency for project managers to view progress and make adjustments when necessary in real-time. Their primary goal is to complete projects as effectively and efficiently as possible; on time and on budget.
While the benefits of project completion are imperative and obvious to the business, PPM technologies are often mired in focusing on task and activity completion. Although the outputs of PPM solutions can be leveraged to provide some level of strategic insights, this is often a laborious process and unfortunately the forest of value can easily be lost in the trees of project completion.
Strategy Execution Management Software
Strategic execution management builds off the value of PPM tools to not only provide transparency on project timelines for project managers but also for the leadership team.
With access to dashboards or natively generated and exportable presentations, SEM solutions like Shibumi reduce and potentially even eliminate the work associated with stakeholder reporting.This is the type of work which oftentimes bogs down program transformation teams and team leaders, taking their invaluable time away from the mission-critical work of program execution.
More importantly, SEM solutions like Shibumi have a maniacal focus on understanding and natively “proving” the business value for each project. Where PPM has a goal of completion, strategy execution management software creates a view of value by project, aggregated to provide a business-aligned view of value across your program or entire organization.
Being able to not only track the status of your projects but measure the impact of them in one place creates streamlined transparency across all areas of the business, and gives a larger context to each operational task. The alternatives are fragmented systems trying to work together through manual workarounds or features with limited functionality, with laborious stakeholder reporting and out-of-date business insights.
The takeaway
Leveraging a PPM tool is a great step in the right direction for managing a project to an agreed outcome, but by itself only accomplishes a small component of what the business needs to see. Most businesses that are searching for Project Portfolio Management tools are really looking for an all-encompassing Strategy Execution Management tool similar to Shibumi. Do not stop short by just managing your projects. Manage, measure, and communicate the value.
To learn more about Shibumi schedule a demonstration today.