What is portfolio prioritization in SAP PPM-PFM - Portfolio Management?

SAP Term: portfolio prioritization

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: A systematic process for translating a company's business strategies into a prioritized list of projects, in order to assess or eliminate those that are not in alignment. You can prioritize projects in your portfolio by using scoring models or scoring worksheets.

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• Key Concepts: 
  Portfolio prioritization is a process used in SAP Portfolio and Project Management (PPM-PFM) to identify and prioritize projects and initiatives that are most important to the organization. It helps organizations to focus their resources on the most important projects and initiatives, while also ensuring that all projects are aligned with the organization’s strategic objectives. 
  
  How to use it: 
  Portfolio prioritization is a process that begins with an assessment of the organization’s current portfolio of projects and initiatives. This assessment should include an analysis of the project’s objectives, risks, costs, and benefits. Once the assessment is complete, the organization can then prioritize the projects based on their importance to the organization’s strategic objectives. 
  
  Tips & Tricks: 
  When prioritizing projects, it is important to consider both short-term and long-term objectives. Additionally, it is important to consider the impact of each project on other areas of the organization. Finally, it is important to ensure that all stakeholders are involved in the decision-making process. 
  
  Related Information: 
  SAP Portfolio and Project Management (PPM-PFM) provides a comprehensive set of tools for portfolio prioritization. These tools include project portfolio analysis, resource optimization, risk management, and project performance tracking. Additionally, SAP PPM-PFM provides a range of reporting capabilities that can help organizations make informed decisions about their portfolios.