Project Management Insider

Nonprofit organizations, comprising 1.5 million in the US, face challenges in project management despite employing 10% of the workforce and spending nearly $2.5 trillion. Rooted in inadequate recognition and resourcing, project failures plague the sector, affecting vulnerable populations. A novel approach, Strategic Business Execution (SBE), advocates for distinguishing work into planning, operating, and changing categories to improve prioritization and resource allocation. Effective project management could mitigate strain on nonprofit professionals and enhance project success.

Project portfolio management is gaining prominence in the project management field due to three key reasons: 1) Organizations are prioritizing projects aligned with their strategies for competitiveness; 2) Addressing significant challenges like risks, resources, governance, and performance; 3) Enhancing investment performance by executing the right projects the right way. However, forums for project portfolio management are scarce, especially for Portfolio Management Professional (PfMP) certification holders needing Professional Development Units (PDUs). PMO Advisory, a PMI Authorized Training Partner, is addressing this gap by organizing a virtual summit for portfolio professionals to gather, learn, network, and delve into the world of project portfolio management.