Essay on Proj 587 Week 4

PROJ 592 All Discussions Week 1 - 7 Purchase here http://devrycourse.com/proj-592-all-discussions-week-1-7 Product Description PROJ 592 Week 1 DQ 1 WBS Construction PROJ 592 Week 1 DQ 2 Project Cost Estimates and Assumptions PROJ 592 Week 2 DQ 1 Cost Components PROJ 592 Week 2 DQ 2 Estimating Processes PROJ 592 Week 3 DQ 1 Project Schedules PROJ 592 Week 3 DQ 2 Sensitivity Analysis PROJ 592

Businesses are facing a dichotomy between wanting to chalk out an all-time structure and strategy for their organization, and recognizing that their world is in a constant state of flux [3]. For most of the 20th century they were largely focused on the static elements of this dichotomy. However, in the last decade changes have become more frequent and more dramatic, so much so that a whole branch of management is now devoted to the subject of change itself.

A medium-sized firm Clean fabrics Inc in United States has increased the company’s revenues strategically about $350 million dollars per year. The company struggles to meet the objectives of expanding the company along with the cost control. The vision of the company is to provide the right choice to the clients and supplying the support services for the cruise ship industry in the different parts of the world operating in the areas of hotel and travel. The services are supplied to major hotel chains and cruises including linen services in the south east area of United States. Comparatively, the cruise ship industry provides the company with an

One method for managing change in an organization is to be prepared through constant evaluation of the company. The management team needs to continually evaluate sales data, changes in the marketplace and activity by the competition to be able to anticipate change. When a company can see change coming as a result

First, develop project selection criteria and a high level process for applying the criteria and managing the portfolio. The criteria should be consistent with the business environment for the industry, consistent with your company's overall mission/strategies, and consistent with the mission and strategies of your strategic business unit. You are proposing a process, not individual projects.

This model was developed by Tom Peters and Robert Waterman (Mindtools 2012). Essentially, it aims to improve the overall performance and productivity of an organization while aligning all departments to suit the shared vision of the organization (Peters 2011). There are a number of benefits within its flexible nature and ability to look back and analyze the success of a previously implemented strategic change within the organization (Simister 2011). It is retroactive, yet it can be an important diagnostic tool in learning for future endeavors of change (Peters 2009).

Project management and by extension portfolio management are curious disciplines. They attempt to present simple methodologies for guiding an activity (or group thereof) through all its stages from inception to completion, within defined cost and time boundaries. Many of

Title page Updated 1-28-12: Business cover sheet, i.e. no APA title page 1: Project Overview

There are a number of methods that have been applied in the process of creating and evaluating strategic goals in any project. Some of the most effective methods include the market potential method, the historic method and the fulltime equivalent method. Creating strategic goals in IT project portfolio management as it helps those involved in the project to focus on the project, make appropriate co-ordination and be in a position to measure the progress of the project effectively without any struggles. As such, the creation of strategic goals in IT Project Portfolio Management is always very important for

In large organizations, all the three domains, projects, programs, and portfolios, have to meet the maturity standards. The IT portfolio plays high-level strategic roles by ensuring that project investments are being managed most appropriately. The main benefit of IT portfolio management is enabling measurement and objective evaluation of IT investments and alignment with the business strategy which will maximize the value of IT investments while minimizing risk. However, the ignoring of the IT portfolio management will impact negatively on the communication and alignment between IT and business leaders, which lead to the wrong distribution of the resources and budgets on projects

The basic goal of project portfolio management is to select the projects and programmes out of a set of necessary and available projects within the organization whose realization helps achieve the strategic organizational goals, taking into account the available resources (Beric, Jovanovic & Jovanovic 2012).

We have analyzed the current state of the portfolio of projects, what kind of metrics are currently being collected, and how the collected metrics are being presented to PPM. We 've also analyzed whether PPMs are able to garner what they need to know to make business decisions. Based on the analysis, we have proposed a new set of metrics that need to be collected from the project teams and new ways of reporting them to the PPM.

Portfolio strategy is all about carefully selecting the right project with limited allocating resource and by investing in a careful constructed portfolio of diversity businesses, companies are able to reap higher and more consistence return over the long period.

The IT portfolio management, as Lane (2011) states, “is to help the organization prioritize IT projects so that limited resources can be managed, ensuring IT 's alignment with business priorities and maximizing IT investment.” The criteria identified are used as part of IT portfolio management.

The four goals that must be achieved when selecting project portfolio are reviewing and defining the organization mission, analyzing and formulating strategies, set objectives to achieve strategy, and implementing strategies through projects. (page 29)