Identifying Success Factors, Deciding On Methodology and Implementation of Project Portfolio Systems: A Hybrid, Two-Layer Solution

Abstract

Purpose: In order to manage projects to achieve strategic goals and targets with limited resources, portfolio-project management (PPM) systems become increasingly popular tools for large organizations. Nevertheless, due to various reasons such as lack of financial resources, awareness of the significance of portfolio management many organizations do not have a software system that can keep up with the projects. The purpose of this paper is to share experience gain within three years during the establishment of an effective and inexpensive PPM system to manage organisational projects. Design/methodology/approach: In this study, several project management tools are compared to understand to what features of these tools meet the needs of Project Management Institute (PMI) knowledge areas. Afterwards, an hybrid, two-layer portfolio management tool developed in Turkish Statistical Institute (TurkStat) is introduced. The first layer is built on Redmine, an open source tool, and its purchasable plugins. The second layer is an in-house developed software application which uses the application programming interfaces (APIs) of Redmine. Findings: This needs-oriented, less costly hybrid system has yielded remarkably successful results in the phases of planning, leading, monitoring and control processes of projects under the knowledge areas of PMI. Limitations: Besides advantages of the system, some knowledge area activities still cannot be managed by the hybrid system like quality management, and procurement management. Originality: The two-layer approach can be an example of the best practice solution for other organisations with limited resources as well.