PPM, short for project portfolio management, is the discipline of defining, selecting, and managing a group of multiple projects. This group is called a portfolio. The Project Management Institute defines PPM as “the centralized management of one or more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work to achieve specific strategic business objectives.” Not to be confused with regular project management, PPM deals with deciding which projects in a portfolio are to be prioritized over the rest. In other words, ppm is the management of project management; it does not oversee individual projects themselves.
The EPMC (Enterprise Portfolio Management Council) suggests that PPM address five important questions, which relate to the five project constraints.
Because portfolios include such large amounts of data from multiple projects, it is important that PPM software have maximized visibility and customization. Portfolio managers must be aware that project managers are appointed to their positions for a reason, and that team members are also appointed to their specific tasks for a reason. When major decisions are made at the portfolio level, it isn’t just a bunch of numbers on a screen—actual people are affected. That said, it is imperative that the selected PPM software display the most accurate information. (See AtTask's PPM and project management software.)
Today, there are thousands of successful companies worldwide that are using these tools to make the most of PPM Project Portfolio Management.
Resource: Project Portfolio Management: A View from the Management Trenches. James Pennypacker and San Retna, Ed. EPMC, Inc. Wiley: 2009 (1-24). Web.