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:

1. Assess Exponential IT Readiness: Evaluate the organization's readiness for Exponential IT across PPM domains and activities and document the results.
   
2. Define Goals: Assess project challenges and business needs to help define transformation goals.
   
3. Determine Tactical Use Cases: Understand available AI for PPM use cases and explore advanced, future-state use cases.
   
4. 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 [email protected].

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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 [email protected].

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

SOURCE Info-Tech Research Group