Capability Definition
A PPM solution should support a majority of the five knowledge areas described in the The Standard for Portfolio Management - Third Edition from the Project Management Institute (PMI). These areas are:
- Portfolio Strategic Management
- Portfolio Governance Management
- Portfolio Performance Management
- Portfolio Communication Management
- Portfolio Risk Management
This definition has been widely adopted and has led to the commoditization of the PPM software industry. The PPM software market has become significantly matured, strengthened by the introduction of software-as-a-service PPM as a viable deployment option alongside traditional and hosted options. In addition, Gartner's 'Hype Cycle for Application Development, 2010' depicts PPM technology maturity as approaching the Plateau of Productivity.
Read more about this topic: Project Portfolio Management
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