Strategic Portfolio Management
Discuss the key issues in project portfolio management and how each of them could present a challenge to the organization. Can organizations succeed without project portfolio management Close the paper with 3-5 recommendations to IT management in your organization regarding what they need to know about project portfolio management.
This module’s Case is about assessing project risk at the development and implementation level. Evaluating risk in a systematic way reduces project failures and empowers all stakeholders to communicate and reach agreements.
A key point in project portfolio management is that the IT manager must determine the risk associated with each project and develop a profile of various projects for risk visibility. Different organizations and strategies plan project profiles to measure the risk impact on development and implementation.
The required reading for this Case is:
Gliedman, C. (2002). The many faces of IT portfolio management. Research Digest,5(3), 1-10. Retrieved from http://tvertne.org/tmp/IT_portfolio_management.pdf
Lee Merkhofer Consulting. (2011). Best practice project portfolio management. Priority Systems. Retrieved from http://www.prioritysystem.com/reasons6b.html
Ernst & Young (2014). Strong risk management practices and internal audit capabilities as drivers as drivers for growth, http://www.ey.com/GL/en/Services/Advisory/EY-accelerating-high-growth-companies-climb-to-the-top
Pennypacker, J., & Retna, S. (2011). Project portfolio management: A view from the management trenches. Garnert Group. Retrieved from http://www.gartner.com/it/content/911400/911412/project_portfolio_mgmt_excerpt.pdf
In addition, the optional reading expands on many of the central points; you may also want to do some independent research to clarify any issues. Be sure to reference these sources properly.
After reading Levin’s case study and other articles and related material, try to put yourself in the position of a new IT manager. You have been called upon to manage a suite of technology projects in order to look into the investment portfolio supporting each project. You were asked to plan around the facts and define projects suitable to company strategy. You should first look into the impact to operations, benefits, and risk, and how strategic projects will bring competitive advantage to the company. The above readings should help you establish your context.
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