BIGGEST CHALLENGE:
VISIBILITY / REPORTING
A portion of respondents cited project visibility and reporting as their biggest challenge (16%). This finding is indicative of the fact that some teams are continuing to use spreadsheets or disparate systems that don’t lend themselves to the level of speed and visibility at which effective portfolio management is done. It is no surprise we continue to see visibility and reporting top of mind for many project practitioners.
When we look further at this challenge by digging into what area of visibility causes the greatest pain, we see that project portfolio data not being centralized (28%) and lack of real-time project portfolio data (28%) tie at the top of the list. This is followed by 22% saying generating status reports and 22% saying integrating project-related data from systems the PMO does not control. The concern of critical real-time project data in a single source is a very big area for PMOs to continue to focus on in 2023.
WHICH ELEMENT OF VISIBILITY/REPORTING IS THE MOST CHALLENGING?
Visibility into portfolio data is crucial for driving PMO excellence. With accurate real-time visibility, PMO leaders are able to make better decisions, provide better outcomes, gain better executive engagement and improve resource optimization.