Project + Lifecycle Together
This article discusses the advantages of integrating project portfolio management (PPM) with product lifecycle management (PLM) software for project planning. Many engineering companies are now stepping forward to integrate their PPM and PLM systems for more close-up project planning. By tying the two systems, engineering firms are better able to manage time spent on specific projects, to get an overarching and realistic view of where the project stands, to stay on the schedule and to meet specific goals. The tied systems also allow engineers to get a broad view of the project that extends beyond their engineering piece. In engineering companies, where the project status is inevitably tied to the engineering department, closing the loop between theoretical plans and engineering progress can make for big budgetary savings and offer important insight into product planning. Many engineering companies that do not yet have a PPM system are now considering implementing one to plan their product mixes.