Many cios treat project portfolio management tools as the silver bullet for managing IT as a business investment center. PPM tools help managers plan project funding; allocate resources; and track schedules, resource use and costs. But we should know better. As the saying goes, "A fool with a tool is still a fool." Some people warn that decision frameworks, methodologies and processes must be defined-first, or the tools will fail. This is good thinking-but if s not enough. Most executives create either an IT project management office or a more comprehensive enterprise PMO and expect the members of either group to plan, implement and administer corporate governance without executives' direct, continuing involvement. But without a culture of governance, these offices will fail.
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