According to a study by the Project Management Institute, only 59% of projects stay within budget. Despite this, project budget management is one of the most critical ways organizations can drive their business forward. This eBook guide presents the main concepts of portfolio, program, and project budget management, as well as the associated methods and processes. We’ll look at how an organization can improve its budget management at three different levels:
- Estimating, planning, monitoring, and re-evaluating project costs from the bottom up
- Effectively managing project budgets from the top down
- Optimizing budget management at the portfolio level
This presentation will be supported by use cases based on the Sciforma project portfolio management solution. A powerful Project Portfolio Management tool equipped with the appropriate budget management functionalities can considerably guide an organization in:
- defining the various costs associated with projects
- arbitrating between projects in the same portfolio, and choosing which projects to launch
- confirming that projects are on budget
- simulating upward or downward budget trends
- and much more
So let’s talk costs and budgets!
About Sciforma, Author of Project Portfolio Management for Budget Management
Sciforma is one of the leading providers of Portfolio & Project Management (PPM) software, delivering solutions to more than a quarter million users worldwide for over 30 years. Boasting PPM, SPM, and CWM capabilities, Sciforma’s solution helps teams plan and deliver on strategic initiatives by making data-driven decisions about their project portfolios, resources, and strategic goals—all in one collaborative, customizable platform.
The company stands out from its competitors by providing the optimal balance of usability and robust functionality. Further, they support project team and executive-level portfolio management for solving challenges with strategic communication, planning, tracking, execution, and more. In recent years, Sciforma merged with One2Team (2021) and KeyedIn (2023), thereby reinforcing its Project Portfolio Management and Strategic Portfolio Management (SPM) capabilities.