Benefits in Implementation of PPM Technique in Manufacturing Industry

Abstract

Evaluating technological investments has been a central concern in industrial engineering research and practice for decades. Critical path method (CPM), PERT and project portfolio management (PPM) are intangible frameworks that are most widely used to attain utmost efficiency and increase the technical and financial benefits in small scale industries to big corporate companies. The benefits of adopting PPM includes maximizes the value of investments while minimizing risk, improves communication between design and manufacturing teams, alignment between product innovation and business leaders, encouraging business leaders to act as team players, allowing planners to allocate resources more efficiently and to ceasing the loss generating products/projects. The present research study aims to evaluate the benefits of implementation of PPM technique and find the major benefit factor by employing the technique in manufacturing industry. The primary data that was required for analysis was collected from the selected of respondents of companies through a well-structured survey questionnaire. This exploratory research study endeavors its evaluation based on the data analysis and concludes statistical analysis using cumulative weighed average (CWA) and chi-square analysis techniques. The analysis unveiled that PPM technique provides many benefits and identifying appropriate technology to align with market dynamics and identifying and managing gaps in product portfolio are the major benefits that PPM implementing companies attains. The identified problems should be eluded to maximize the benefits of project portfolio management.