Essays on Project Portfolio Management

Abstract

ITPM (Information Technology Project Management) is an essential activity for any IT organization to succeed. Projects must be evaluated and ranked in order to be decided upon and prioritized effectively. Shortcomings exist and must be addressed using optimization tools and methods in order to ensure efficient execution. Project portfolio management, which is the management of all projects within IT, allows for comprehensive project management that can ensure organizational success. Many effective ITPM tools exist to assist in project execution that must be understood, evaluated, and utilized properly. These tools include Business Case documentation for each project to lay out ...

Part A

According to Kerzner (2004), strategic planning for project management is the development of a standardized method for project management which can be used severally and produce a high likelihood of achieving a project’s goal. Strategic planning increases and improves the chances for the success of any given project. Strategic planning, according to Kerzner, considers all aspects of a firm from the working relationships of the employers and employees to the various roles played by the project sponsors in ensuring the success of a project. Strategic planning involves the steps of choosing and formulation of the most effective method, implementation, monitoring and control and ...

Introduction:

Projects are a crucial component of the current world of business which is characterized by development of new products and services. It is also involves the change in the internal operations of the business and implementing the strategies of the business. Projects also takes a larger proportion of the business activities taking a large proportion of the shares prices and budgeting activities which are very components of the company in decision making a factor which makes the projects very complex due to the large and wide scope of operation of the companies. It is difficult for a business or company to succeed with the ...

Executive summary

As the newly appointed head of the travel and hotel support operations strategic unit of this company, I have thoroughly schemed through these units activities and would like to present my suggestions on some of the changes that need to be made in the company’s operational activities. My role as the head of the operations strategic unit is to manage the product portfolio of this unit. The operations unit is responsible for providing all the services offered by this company to its various clients. I have scrutinized my area of control and have come up with a concrete proposal ...

DISCUSSION QUESTIONS

1. What are some of the principle reasons why project management has become such a popular business tool in recent years? Competition, product innovations, expanding global markets, and changing consumer tastes are the main reasons for the popularity of project management in business. In recent years, there has been a decrease in the length of time a product is produced. Companies begin to work on their next product even before their current one is barely out of the door. This is a necessary strategy for an organization to remain competitive. Business companies are pressured to come up with new products or product ...

Introduction

Project portfolio management has become a key aspect of managing organizations and ensuring that the organizations goals and objectives are attained. It has also been used as a concept to solve most of the organizational issues. Project portfolio management is defined as the concept that deals in the selection as well as the management of a particular set of projects that enable the organization to meet its set objectives (Gliedman ,2002).. It has been noted that the particular specifics of the project portfolio management are vary from one organization to another.

In the recent years project portfolio management has risen in ...