Elaborate in 2200 words a Portfolio Management Implementation Report which includes:
– Describe the current organisational structure, to explain the project management maturity, and the changes that may need to be addressed in PPM implementation.
– Explain, what project management principles, models, methods are currently utilized to ensure they meet organizational objectives.
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– What are the specific perceived needs for implementing PPM. For example, are there more projects required than resources? Is there sharing of resources needed? Is there any evidence of past project failures? We really need to understand the organisations appetite for risk and tolerance to change, understanding and explaining this will become crucial to determine the PPM implementation change management strategy.
– You must include how will PPM be beneficial to sustainability.
– Define and describe what type of improved project portfolio management model would you propose for the organisation and why?
– Explain the Situational Context: Is the organisation investing in the right projects? Is the organisation optimising its capacity? How well is the organisation executing? Can the organisation absorb all the changes? Is the organisation realising the promised benefits?
– Portfolio Evaluation: What method is the organisation using to evaluate its overall project portfolio. What is the justification of using the chosen method in comparison to some of the others that are available? Are there any challenges that the organisation might face in using the current method if it were to operate in a global environment? Is the benefits management lifecycle incorporated in the evaluation process? How might benefits management be helpful in successfully meeting the deliverable goals of the organisation’s projects?
– Portfolio Management: How is project portfolio management ensuring that the organisation’s collective projects are aligning with its strategic objectives? Has a Project Management Office been introduced into the organisation and, if so, has it played a role in terms of standardising practices and increasing project success rates? If not, why not? What alternative approaches are available? What quantitative and qualitative tools and techniques is the organisation currently using to manage its project portfolio and are they effective?
– Maturity Levels: At what maturity level do you believe the organisation is at in terms of its approach to project portfolio management? What are the key best practices which can be adopted to improve the maturity level and which model (e.g. PRINCE2, OPM3) do you think would be appropriate? How might you go about implementing this change and what assistance from the organisation would you require?
– Corporate Culture: Assess the corporate culture of the organisation and whether it is likely to be different in terms of key internal stakeholder influence and input (e.g. HR Director, Technology Manager, Facilities Manager, Accountant). Will any change management initiative in terms of project portfolio management process improvement and benefits realisation need to consider the different perspectives of these stakeholders and what concerns might each stakeholder express? What aspects of the corporate culture do you think would support project portfolio management and its sustainability criteria? Are there any challenges involved in getting project portfolio management and its sustainability criteria embraced by the organisation?