PortfolioManagement Amp StrategicManagementPaper Week2 RicardoHernandez
Portfolio Management and Strategic Management Paper
Ricardo Hernandez
CPMGT/301
May 11, 2015
Professor Koma
Portfolio Management and Strategic Management Paper
Project Portfolio Management (PPM) is a management tool whose process is designed to aid an organization in identifying and organizing all of its projects. The PPM organizes an organization’s projects by prioritizing each project according to its strategic value, resource impact, cost, etc. The PPM is a derivative of a financial portfolio and shares similar objectives. Some of these similar objectives consist of developing a consciousness of all the individual parts involved; presenting a better understanding of all its parts; and allowing the parts of the organizations to be sorted as well as prioritized based on their alignment with the organization’s long-term strategies or goals.
Typically, PPM will begin its process by first identifying, organizing, and compiling a comprehensive list of all the organizations projects. It will also provide enough descriptive information about each project in order to allow the projects to be analyzed and compared. This descriptive information would include the project’s name, estimated duration, estimated cost and its business objective. It would also include how each project would support the organization’s overall strategies and objectives. In most cases, this information would be compiled in an electronic database using resource management software so they may be analyzed and compared more easily.
Once a comprehensive list has been established the PPM process will require that the data captured is then passed on to department heads or other organizational leaders for analyzes. These leaders would then examine the data provide as well as prioritize each project in accordance to an established criteria. During the analysis, certain projects will be given higher priority and extensive support than others; whereas, some will be given moderate priority with
Ricardo Hernandez
CPMGT/301
May 11, 2015
Professor Koma
Portfolio Management and Strategic Management Paper
Project Portfolio Management (PPM) is a management tool whose process is designed to aid an organization in identifying and organizing all of its projects. The PPM organizes an organization’s projects by prioritizing each project according to its strategic value, resource impact, cost, etc. The PPM is a derivative of a financial portfolio and shares similar objectives. Some of these similar objectives consist of developing a consciousness of all the individual parts involved; presenting a better understanding of all its parts; and allowing the parts of the organizations to be sorted as well as prioritized based on their alignment with the organization’s long-term strategies or goals.
Typically, PPM will begin its process by first identifying, organizing, and compiling a comprehensive list of all the organizations projects. It will also provide enough descriptive information about each project in order to allow the projects to be analyzed and compared. This descriptive information would include the project’s name, estimated duration, estimated cost and its business objective. It would also include how each project would support the organization’s overall strategies and objectives. In most cases, this information would be compiled in an electronic database using resource management software so they may be analyzed and compared more easily.
Once a comprehensive list has been established the PPM process will require that the data captured is then passed on to department heads or other organizational leaders for analyzes. These leaders would then examine the data provide as well as prioritize each project in accordance to an established criteria. During the analysis, certain projects will be given higher priority and extensive support than others; whereas, some will be given moderate priority with