What is Portfolio and Project Management in SAP PPM - Portfolio and Project Management?

SAP Term: Portfolio and Project Management

• Component: PPM

• Component Name: Portfolio and Project Management

• Description: supports enterprises in strategic and operational portfolio management – including product innovation management, professional service portfolios, and enterprise IT – and enables enterprises to better control and innovate projects, processes, products, and services across their life cycles, as follows: Portfolio Management capabilities provide a high-level overview over the entire project portfolio, portfolio analytics and resources. Project Management is a cross-industry tool that is used to plan and monitor development and consulting projects.

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• Key Concepts: 
  Portfolio and Project Management (PPM) is a component of SAP software that helps organizations manage their projects and portfolios. It provides a comprehensive view of all projects, enabling users to prioritize, plan, and track progress. It also helps to identify potential risks and opportunities, as well as to optimize resources.
  
  How to use it: 
  PPM can be used to create and manage projects, track progress, and analyze performance. It also allows users to assign tasks, set deadlines, and monitor budgets. Additionally, it can be used to generate reports and analyze data for better decision-making.
  
  Tips & Tricks: 
  When using PPM, it is important to ensure that all project information is up-to-date and accurate. Additionally, it is important to set realistic goals and deadlines for each project. Finally, it is important to regularly review the progress of each project in order to identify any potential risks or opportunities.
  
  Related Information: 
  PPM is closely related to other components of SAP software such as SAP Business Planning and Consolidation (BPC) and SAP BusinessObjects (BO). Additionally, PPM can be integrated with other systems such as Microsoft Project or Oracle Primavera.