Project & Portfolio Management (PPM) can play a crucial role in addressing climate change by coordinating and prioritizing initiatives that promote sustainability, reduce greenhouse gas emissions, and foster environmentally responsible practices.
Using our award winning PPM tool, PM3, we have identified 8 ways how PM3 can contribute to the fight against climate change.
So without further ado, here they are:
PM3 ensures that climate change initiatives are aligned with the organization’s overall strategic goals and objectives.
It helps identify projects and programs that support sustainability and align with the company’s commitment to reducing its environmental impact.
The screen below shows how close a fit each project in a portfolio is to the organisation’s climate change priorities. These climate change priorities or strategic drivers can be configured by the PM3 Administrator.
PM3 assists in allocating resources effectively to climate-related projects. By prioritizing initiatives that have the most significant impact on mitigating climate change, organizations can maximize their efforts and investments in environmentally friendly initiatives.
PM3 can oversee projects aimed at reducing the organization’s carbon footprint. This may involve implementing energy-efficient technologies, adopting renewable energy sources, optimizing transportation and logistics, and promoting sustainable practices throughout the organization.
PM3 can facilitate the implementation of renewable energy projects, such as solar, wind, and hydroelectric power. These projects can significantly contribute to reducing greenhouse gas emissions and promoting cleaner energy sources.
Climate change is a global challenge that requires collaboration among various stakeholders, including governments, communities, NGOs, and businesses. PM3’s stakeholder management module can facilitate stakeholder engagement and partnerships to ensure key stakeholders are engaged and supportive of action against climate change.
PM3 enables the tracking and reporting of key performance indicators related to climate change initiatives.
Regular monitoring allows organizations to evaluate the effectiveness of their projects, make necessary adjustments, and demonstrate their commitment to sustainability to stakeholders and investors.
PM3 can implement KPIs related to climate change. Projects in a portfolio can be objectively assessed against a KPI or traffic light that measures how well a project is addressing climate change metrics.
PM3 can support the implementation of education and training programs to raise awareness about climate change and promote sustainable practices among employees and stakeholders.
PM3 can assess each project in terms of its impact on climate change. PM3 has a set of impact assessments built into the tool including impact on the climate.
These assessments can be configured by the PM3 administrator. The project manager can complete the climate change assessment of their project, and this will generate a RAG rating and a score. This climate change impact assessment can then be approved or disapproved by the relevant person or committee.
By integrating climate change considerations into the organization’s project and portfolio management processes using our PPM tool, PM3, businesses can become more resilient, sustainable, and contribute positively to the global efforts in addressing climate change.