Project portfolio management (PPM) enables organizations to manage a collection of current and proposed projects. Using PPM, organizations analyze their portfolio to properly vet and sequence each project to optimally achieve their strategic objectives.
There is no reason why PPM cannot be applied by individuals particularly the solo practitioners or small business owners. Given limited physical and financial resources, individuals can use PPM to focus on personal strategic objectives such as improving one’s career, growing the business or penetrating a market.
By ensuring alignment of each project to the individual’s strategic objectives, less time will be spent on trivial projects or ineffective activities. Define your strategic objectives for the next few years. Come up with vetting criteria for your projects. Assess all of your current and planned projects. Focus your efforts on the important projects and set aside the rest.