Project Portfolio Management software stores a lot of data. However, there is a greater potential within PPM software to use all this data to make your critical business decisions.
PPM Reporting can provide answers to some of your organisation’s most pressing issues, such as:
- Will we be able to accomplish our strategic objectives? And why?
- Which sector has the most project requests?
- Is it necessary to devote additional money to capital projects?
- What is our portfolio’s return on investment?
The answers to these and other questions are key to organisational success. Let’s look at the major factors that go into creating a solid reporting process to help your company.
To demonstrate how powerful PPM data can be, we will outline some potential PPM reporting features that Execview can provide. The following key project reporting features have been highlighted as key to helping your company make better decisions.
Throughout the project lifecycle, Project Portfolio Management collects and stores data in a variety of ways. For example, from project intake forms, both quantitative and qualitative, imported data from other systems, calculated or derived data, or metadata that is specific to a company.
Metadata makes information more available to those not working in a PMO, particularly those not involved in IT, which enhances reporting. Creating centrally maintained chains of command and applying the appropriate tag to projects is the first step in using metadata for reporting. Relevant metadata can be found in a variety of sources, including business objectives, departments, and locations.
This crucial metadata may be used to match reports with your organisation’s objectives. As a result, your stakeholders will have instant access to information on efforts that promote governance, transparency, and business strategy.
KPIs and Metrics
Deriving value from PPM data requires a complete reporting platform that collects data for the main metrics specified for projects or portfolios.
As soon as metrics and reporting have been specified, auditing data guarantees that information is collected at the right level of frequency.
Reporting can measure progress toward KPIs or OKRs, giving consumers a recent picture of the portfolio’s performance.
PPM dashboards show how the portfolio is working and – when combined with more detailed reports and analysis – may help you figure out why. Detail and difficulty are prioritised above conciseness and concentration.
Dashboards are a great way to communicate KPIs and metrics to a large group of people. The company can fulfil the requirements of a variety of stakeholders by using web-based dashboards.
A PPM reporting system should enable you to generate useful dashboards by grouping metrics according to the information they provide or their relevance to a certain job.
Dashboards may be customised for each user using Project Portfolio Management Reporting software.
KPIs, Red, Amber, Green reports, and Gantt charts are all common components of PPM dashboards.
The capacity to analyse data across several projects and periods is provided by reflective analysis. From the time a project is considered until it is finished or deployed, Project Portfolio Management software collects data. This viewpoint allows businesses to monitor their overall effectiveness and identify areas for improvement.
The use of post-mortem analysis allows us to better grasp a range of crucial topics. For instance,
- Whether the project met, surpassed, or fell short of expectations
- If similar initiatives should be supported in the future,
- The accuracy of risk and reward measurement using established grading procedures.
Budget vs spending analysis gives key information that may be used for other projects.
Estimated costs are gathered early in the project’s lifespan and compared to actual costs as data becomes available. These data collecting procedures are integrated into the project workflow by PPM reporting software. This provides vital insights into budgetary performance.
Project scoring can assist you in determining whether projects are achieving corporate criteria.
PPM software’s Project Scoring reports allow for risk vs benefit comparisons with comparable projects. This is beneficial when assessing new potential initiatives. Your PPM software should provide several presentations to help you translate data into meaningful information and score projects.
Reports and dashboards must be offered on a secure, robust platform to stakeholders across your company. Such data might be useful to both management and individual contributors. Can differentiate between user categories and their information demands.
Execview’s software solution provides a secure, robust platform for enterprise reporting for organisations of any size and portfolios of any scale.
We are offering a free webinar on Thursday 16th December, “Reporting with Execview”. Sign-up on our homepage.
To find out more, contact us. Alternatively, you can get in touch with one of our experts at in**@ex******.com.