Project Management Tools for Modern Project and Portfolio Management

Description:

In this paper we discuss proven tools and techniques that are used for the corporate project management by many companies around the world. Everything discussed in this paper is supported by Spider Project software. The certain way of project planning and control is suggested. Corporate project and portfolio management system shall:

  • Organize the data in a way that supports proper resource work simulation and application of corporate norms and standards.
  • Use a set of reference-books and the fragment library that are obligatory for creating project computer models.
  • Calculate Resource Critical Path and resource constrained floats for every project and project portfolio.
  • Assess and simulate project & portfolio risks.
  • Define project & portfolio success and failure criteria that reflect achieving project business goals.
  • Define project & portfolio targets (and corresponding contingency reserves) that may be achieved with reasonable probabilities.
  • Regularly recalculate the current probabilities of meeting project & portfolio targets during execution and analyze success probability trends. Negative success probability trends require applying corrective actions.

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