What is Corporate Strategy
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Project portfolio management organizes a series or projects into a single portfolio consisting of reports that capture project objectives, costs, timelines, accomplishments, resources, risks and other critical factors. Executives can then regularly review entire portfolios, spread resources appropriately and adjust projects to produce the highest departmental returns. Please read provided reading resource 1 in its entirety.
IT Portfolio Management (IT PPM) – When a business wants to get control of its IT projects, two paradigms collide: the world of financial portfolio management and the world of IT project management. When implementing IT PPM, companies will either lean more towards the former by supporting executive decisions or they will lean more towards the latter by supporting PMs. Read Provided reading resource 2- Chapter 1 in its entirety.
Defining IT PMO – When a project becomes large enough, the numerous and complex project management tasks can get overwhelming for a PM. So that the PM can keep a bird’s eye view of the project, tasks such as risk management, scope management, resource support, and rollout management could be delegated to the staff of a project management office. Read provided reading resource 2 – Chapter 4 in its entirety.
Project Portfolio Management in Practices – While some organizations have an independent entity for PPM, the others manage their portfolio as part of their business operations. Despite their different approaches, these organizations practice portfolio alignment and portfolio monitoring and control processes. Senior-level executives of these organizations are involved in the portfolio governance. Read provided reading resource – Chapter 3 ( this is additional reference material)
Discussion Points:
1. What is Corporate Strategy – discuss
2. Discuss Strategic Framework
3. Discuss PMO and PMO structures for large Project Centric-Companies
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