Info-Tech Research Group's latest research blueprint provides
insights to help organizations transform their project portfolio
management practices. The new resource will equip project portfolio
management (PPM) teams with actionable research insights and
essential tools to effectively leverage exponential technologies to
drive innovation and maintain competitiveness in a rapidly evolving
digital landscape.
TORONTO, July 29,
2024 /PRNewswire/ - With the rapid advancement
of AI technologies continuing to reshape industries and markets,
organizations are urgently seeking effective ways to optimize their
project portfolios and maximize investment returns. However, facing
significant challenges in project portfolio management (PPM), such
as misalignment with strategic goals, inefficient resource
allocation, and difficulty measuring project value, many
organizations risk wasted investments and missed opportunities. To
address these critical issues, Info-Tech Research Group has
released its latest blueprint, Transform PPM to Optimize Value
From Every Investment. This comprehensive research
offers actionable insights and innovative strategies to enable
project management leaders to leverage AI and enhance their PPM
practices for sustainable growth and competitive advantage.
"With AI and Gen AI, humanity is once again at the dawn of an
era where the separation of realistic, near-term technology targets
from longer-term ones is murky," says Travis Duncan, research director at Info-Tech
Research Group. "PPM practitioners might not have kept their
reputations intact if they had burned the boats a year ago based on
vendor hype, and they shouldn't do so today. They should make and
validate a plan to integrate new technology with caution."
The potential for AI-enhanced, automated PPM outcomes is
compelling. Info-Tech's research insights indicate that the
technology for advanced PPM automation is not yet mature, but there
is no doubt it will continue to evolve, with more project
management tasks being performed by AI in the years ahead. The
Exponential IT future is inevitable, and it calls for a PPM
transformation plan that addresses both near- and long-term
objectives.
The firm's study further reveals that initial fears of AI
replacing project managers have shifted to a sense of excitement
and optimism. These technological advancements are poised to
enhance project management roles, allowing project and PPM staff to
focus on more strategic activities. Info-Tech advises it is crucial
for organizations to develop a transformation plan, ensuring that
executives are fully committed to the successful implementation of
AI in project management rather than merely chasing the latest
trend.
The new resource from Info-Tech highlights the transformative
potential of effective PPM to drive superior business outcomes and
ensure maximum return on investment. In it, Info-Tech highlights
four steps it recommends project management leaders take to develop
effective project portfolio management:
- Assess Exponential IT Readiness: Evaluate the
organization's readiness for Exponential IT across PPM domains and
activities and document the results.
- Define Goals: Assess project challenges and
business needs to help define transformation goals.
- Determine Tactical Use Cases: Understand available
AI for PPM use cases and explore advanced, future-state use
cases.
- Define a Long-Term Transformation Roadmap: Develop
a roadmap for enhancing readiness and leveraging emerging
technologies in PPM.
The comprehensive blueprint offers practical guidance for
project management leaders striving to optimize the value of their
project portfolios. By implementing these strategies, organizations
can better align with their strategic goals, improve resource
allocation, and increase project success rates.
For exclusive and timely commentary from Travis Duncan, an expert in project portfolio
management, and access to the complete Transform PPM to Optimize
Value From Every Investment blueprint, please
contact pr@infotech.com.
Info-Tech LIVE 2024 Conference
Registration is now
open for Info-Tech Research Group's annual IT conference, Info-Tech
LIVE 2024, taking place September 17 to 19,
2024, at the iconic Bellagio in Las Vegas. This premier event offers
journalists, podcasters, and media influencers access to exclusive
content, the latest IT research and trends, and the opportunity to
interview industry experts, analysts, and speakers. To apply for
media passes to attend the event or gain access to research and
expert insights on trending topics, please contact
pr@infotech.com.
About Info-Tech Research Group
Info-Tech Research
Group is one of the world's leading research and advisory
firms, proudly serving over 30,000 IT and HR professionals. The
company produces unbiased, highly relevant research and provides
advisory services to help leaders make strategic, timely, and
well-informed decisions. For nearly 30 years, Info-Tech has
partnered closely with teams to provide them with everything they
need, from actionable tools to analyst guidance, ensuring they
deliver measurable results for their organizations.
To learn more about Info-Tech's divisions, visit McLean &
Company for HR research and advisory
services and SoftwareReviews for software buying
insights.
Media professionals can register for unrestricted access to
research across IT, HR, and software and hundreds of industry
analysts through the firm's Media Insiders program. To gain access,
contact pr@infotech.com.
For information about Info-Tech Research Group or to access the
latest research, visit infotech.com and connect via
LinkedIn and X.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/transforming-ppm-practices-with-ai-info-tech-research-group-unveils-guide-for-strategic-project-success-302209040.html
SOURCE Info-Tech Research Group