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The projects portfolio was handled by a head that had the people who concentrated fully in projects implementation, the Human Resource department on the other concentrated on rewards like benefits, compensation and pensions, resourcing, organizational development and design, employee relations and development and learning. However, over the years, many organizations have been continually undergoing alignment, which means integration of the decisions about the employees with the decisions about the results that the organization is striving to achieve.
Jeff Sacht, (2010) points out the fact that many organizations have moved to the consultative partnering roles rather than the autonomous departmental confines. This alignment has integrated almost all departments into the firms planning process, stressing on each departments engagements and activities that contribute to the wider mission and goal of the firm as well as make stronger the ties and relationships between the departments and the management, one of them being the projects portfolio management.
SECTION III
Many firms have realized that it is not only the financial and technological capital that give them a competitive edge but the ability to seamlessly coordinate them into meeting the goals and the strategic plan of the organization.
The inclusion of the project portfolio management into the strategic planning of the organization will benefit the department and the entire organization in that it will be easier to make...
This will also reduce the time and the effort that will be required by the top management to draft out budgets for the projects as the concerned people will appropriately coordinate with the top management to do that.
This will also enable the smooth running of two or more related projects and any inter-related activities of the organization according to the timelines, goals, gates and targets of the organization. The inclusion of the project portfolio management in the organization strategic planning will also enable the alignment of program and project execution with strategic needs of company.
References
Jeff Sacht, (2010). Integrated Line Management and HR Planning. Retrieved August 30, 2011
from http://www.workinfo.com/free/downloads/107.htm
Plan View Inc., (2011). Enterprise Portfolio Management. Retrieved August 30, 2011
from http://www.planview.com/products/enterprise/enterprise-portfolio-management/
Management. Retrieved August 30, 2011 from http://www.plm.automation.siemens.com/en_sg/products/teamcenter/solutions_by_product/portfolio.shtml
from http://www.decisionframeworks.com/documents/Win00_PortfolioMgmt.pdf
Portfolio Management The objective of Part A of this study is to analyze the key best practices that the organization can adopt to improve its project management maturity level and to examine and describe the key elements of change management, which could be used during an initiative to raise the project maturity level of an organization. OPM3 has specific benefits to the organization in that it makes provision of a method
In fact, an incoherent approach to it can lead to negative effects such as escalation of costs and lowering of efficiencies. It portfolio management addresses this key issue right from the conceptual stage of projects. The portfolio approach ensures that it projects are implemented with shared commitment, within the statutory framework. Some of the important measures implemented are: Collaborative decision making for key and large scale projects Stakeholder commitment and support
Portfolio Management The current business trends in the airlines industry have the Delta Air Lines Inc. In dire need to exploit on its opportunities while minimizing on its threats and weaknesses. Thus, after various consultations, it is essential to establish a comprehensive strategic business unit (SBU) to propel the company to the top of the industry. The portfolio of the company allows it to venture into various activities that will
Portfolio Management In the project portfolio management context, a portfolio is an aggregation of active programs, projects and other business activities that indicate an organization's priorities, investments and allocation of resource (The standard for portfolio management, 2008). According to the editors of PM Network, "Portfolio management is the centralized management of one or more of those portfolios to achieve specific strategic business objectives" (2008, p. 75). Using project portfolio management
management has to do with the knowledge of the resources a company uses in running their daily affairs. It also involves effective projection of additional resources that could be needed along the way, and the maximization of the available resources. Maximizing the efficiency of the available resources and the ability to put some of them in reserve are part of Cost Management. Some scholars define cost management as the
teaching profession in order to help students achieve various things. Goals for students are for example assessed in terms of problem solving, critical thinking, lifelong learning, and thinking independently. Further goals may include personal traits such as persistence, flexibility, motivation, and self-confidence. Portfolios are also helpful to reveal the work processes of students. Teachers can then help students to develop processes through which to monitoring their own learning, and be