“NPD PPM, or new product development project portfolio management software (see why there’s already an acronym?), has started to slowly creep into enterprise product development organizations—some sample brands include Decision Lens, GenSight, PDWare, Planview, Sopheon, and UMT360.
Gartner attributes the merging of NPD and PPM to agile’s widespread adoption and the Internet of Things. It explains, “Consumers pitted against talented product developers drive the need for product innovation that can never be ‘fast enough or ‘agile enough’ to meet market demands… The Internet of Things and digitalization are pressuring product companies and their product innovation and development teams to strategize, prioritize, select, source and execute projects designed to deliver continuous new and improved products to a vast majority of markets.” Since existing, general PPM software cannot address either of those needs, NPD PPM is sure to emerge as a winner this year.
And as agile spreads from IT to other industries, so too will NPD PPM; innovators will no longer be locked into software applications and development, but will also be able to apply these tactics to offline products.” – Rachel Burger for Capterra, excerpted from here article titled, “The 5 Biggest Project Management Trends Shaping 2017“, click here to read it in its entirety.
Interesting, we’ll be looking at this and perhaps even touch on it at our 1-day Portfolio Management Training Course on February 9, 2017 in New York City where participants will:
- Understand the essential concepts and benefits of project portfolio management
- Discuss the principles of portfolio management
- Create an overall model for selecting, balancing, prioritizing and authorizing work
- Define the steps to establishing and managing a portfolio of initiatives
- Understand and define portfolio governance and its strategic importance
- Report and control of programs and projects in an effective manner that utilizes best practice reporting tools for portfolio management