Engaging Portfolio Reporting Can Resolve Resource Shortages and Approval Delays, Says Info-Tech Research Group

Info-Tech Research Group's latest blueprint addresses pressing challenges in project management by enhancing project visibility and optimizing resource allocation. With actionable insights for accurate portfolio reporting, the resource supports data-driven decision-making to help organizations achieve strategic goals.

TORONTO, Oct. 29, 2024 /PRNewswire/ - As AI integration and the need for effective resource management reshape project management, organizations are encountering significant challenges, including rising project complexity and limited resources.  Many projects are approved without sufficient support, leading to the risk of delays and disruptions to organizational goals. In response, Info-Tech Research Group has published its blueprint Deliver Engaging Portfolio Reports With Power BI, providing project managers with Power BI and Excel templates to boost project visibility, streamline resource allocation, and support strategic, data-driven decisions.

"Almost half of those managing project portfolios still rely on Excel for official project lists, while some have moved to SharePoint," says Barry Cousins, distinguished analyst & research fellow at Info-Tech Research Group. "By any measure, Excel holds more project lists than any other tool. Although there are many impressive project portfolio management solutions on the market, including Portfolio Manager 2.0, only a few organizations have adopted them."

The newly published blueprint highlights the significant challenges organizations face in managing project portfolios. With project demand often exceeding the available workforce, many teams experience severe resource strain, and organizations are increasingly tasked with delivering comprehensive, real-time reporting on project performance. Info-Tech's resource addresses these common challenges by offering strategies to streamline processes and optimize resource allocation using Power BI's robust visualization and data-management capabilities. By implementing these tools, IT leaders can deliver data-backed insights to support strategic planning while maintaining the flexibility needed in today's dynamic landscape.

While various PPM tools are available on the market, not all have proven to be successful across industries, highlighting the need for organizations to thoroughly assess their options. The firm highlights in the blueprint a rising demand for custom, home-grown portfolio reporting solutions as organizations seek to customize their reporting processes to specific needs. As these solutions evolve, project management leaders must seize opportunities for growth by mastering their portfolio data, optimizing workflows, and implementing structured reporting processes that support informed decision-making.

Info-Tech emphasizes the critical importance of accurate reporting across the entire project portfolio while also guiding organizations through the process of selecting and implementing a robust portfolio reporting solution. In Deliver Engaging Portfolio Reports With Power BI, Info-Tech outlines a comprehensive four-step approach for creating impactful project portfolio reports that empower decision-makers and enhance organizational visibility, including:

1. Setting Scope: Define the focus of the new solution, whether it will address project portfolio reporting, resource capacity reporting, or both, to align with strategic objectives.
2. Implementing Templates: Install and configure the provided Power BI templates to establish a structured, pre-developed reporting environment that meets organizational needs.
3. Publishing Dashboards and Reports: Migrate data into the solution and customize dashboards to align with specific portfolio requirements, ensuring comprehensive visibility and usability.
4. Deploying Change and Engaging Users: Execute a strategic change management plan to drive adoption, supporting project managers in effectively communicating the changes and assisting impacted stakeholders.

By leveraging the insights from Info-Tech's blueprint, project leaders can significantly enhance project visibility, improve data-driven decision-making, and support long-term strategic planning. With customizable templates and a structured reporting approach, the comprehensive resource helps organizations transition from basic list management to a robust, scalable portfolio management solution that aligns project outcomes with business objectives.

For exclusive and timely commentary from Barry Cousins, an expert in project portfolio management, and access to the complete Deliver Engaging Portfolio Reports With Power BI blueprint, please contact [email protected].

About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech's divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

SOURCE Info-Tech Research Group