Enhancing IT Project Portfolio Management Through Dynamic Dashboard Visualization and Integrated Chatbot and Mathematical ML Model for Strategic Decision Making
Pravesh Senthil
Under the Supervision of Professor DR. J. K Verma
Integrated Program in Management
Indian Institute of Foreign Trade
Kakinada
Abstract
This project paper presents an innovative approach to enhance IT Project Portfolio Management (IT PPM) using dynamic dashboard visualization and machine learning (ML) techniques. Effective IT PPM is essential for organizations to align IT projects with business objectives and optimize resource allocation. However, conventional methods often lack innovation and real-time visibility, leading to suboptimal decision-making and costly software investments.
The objective of this project is to develop a dynamic dashboard visualization system integrated with a machine learning model derived from the Meta-Portfolio Method (MPM). The MPM leverages advanced analytics and historical project data to dynamically allocate resources and prioritize projects based on risk-return profiles. By incorporating the MPM into the dashboard, organizations gain real-time insights into project status, progress, and resource allocation, enabling informed decision-making and proactive portfolio optimization.
The ML model derived from the MPM analyzes historical project data, including success rates, resource intensity, criticality, regulatory compliance, and portfolio diversification, to predict optimal project selection and resource allocation. By dynamically adapting to changing market conditions and project dynamics, the ML model facilitates strategic decision-making and enhances portfolio performance.
Through the integration of dynamic dashboard visualization and ML-driven decision support, organizations can streamline IT PPM processes, improve project outcomes, and achieve strategic objectives effectively and efficiently. This innovative approach empowers organizations to navigate the complexities of IT project portfolios with agility, foresight, and confidence.
