Empirical Relation between Capability Maturity & Significance of PPM Technique in Product Innovation of Manufacturing Industries
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2016, Vol 4, Issue 2
Abstract
Project portfolio management (PPM) helps organizations to select and manage an optimal portfolio of products/ projects that maximizes organization's responsiveness, revenues, and adaptability while keeping the products/ projects aligned with strategic business goals and objectives. PPM is not only maximizes performance and optimizes costs, it also promotes collaborative effort. PPM process facilitates decision making through evaluation, selection, prioritizing, balancing, execution of the work, harvesting of benefits and feedback of results for continuous process improvement. The present study aims to evaluate and find the relation between the capability maturity and the significance level of project portfolio management implementation in the manufacturing industries. This empirical analysis evaluates the objectives with the help of primary data that was collected from the selected of respondents of companies through a well structured survey questionnaire. The data analysis was performed using correlation and regression statistical analysis technique and it concludes that there is a high positive correlation and regression existing between the capability maturity and significance level of project portfolio management. Further, the research study recommends a need of improvement in the capability maturity in order to achieve the goals and to secure the strategic advantage of project portfolio as a part of strategic business management.
Authors and Affiliations
Sirivella Vijaya Bhaskar
Keywords
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