24.03.2017 – 07.03.2021
myPARM on the podium at the Project Portfolio Management (PPM) Praxis Test
Project portfolio management entails the analysis and higher-level execution of a project portfolio based on the project's key properties. The aim of project portfolio management is to find an optimal project balance according to the conditions provided (such as customer requirements, strategic goals or available resources). This can be of critical importance when it comes to an organisation achieving its objectives. Just as the main aim of project portfolio management is to achieve higher project efficiency, project management in general prioritises the efficient realisation of projects.
On 23 November 2016, CSP invited 10 carefully pre-evaluated project portfolio management (PPM) software providers to the Praxis Test in Zurich, where they were to receive practical ratings by the participants at the event.
Alongside mostly German products, the US giants MS Project and CA PPM were presented to over 70 participants from various sectors.
The high potential for innovation and the quality of European SMEs was once again confirmed, with a German product and the Swiss product myPARM achieving the best overall results (see graphic. Grade 3 represents "Completely fulfilled", Grade 1 "Partially fulfilled <50%").
The final report by CSP had the following to say about myPARM (quote):
"The PPM solution from parm ltd. achieves excellent ratings in many areas and is a balanced choice in terms of the general criteria.
The powerful range of functions coupled with the influential results in terms of configurability make myPARM a worthwhile tool for many situations, above all in environments where investing in an organisation-specific application would be beneficial. In particular, then, the solution would be attractive to project-driven organisations with an engineering background, e.g. research and development."
A major strength of myPARM is the seamless connection between the strategic definition of goals (e.g., using Balanced Scorecard) and the operational implementation of defined measures to reach these goals. The development and implementation of strategies is increasingly taking place in the form of projects, with project work merging with strategic work and vice versa.
What opportunities and risks are there in my projects? Can I communicate directly with the team and stakeholders through the project management tool? Since communication is the most important factor for successful project management – particularly when it involves cooperation over several locations – it can be especially worthwhile to call on an effective tool such as myPARM, which offers full integration of these aspects.
The full report on the PPM Praxis Test 2016 by CSP AG can be ordered directly via the CSP website.