Project Portfolio Management and Article Analysis Order Instructions: The writer will have to read each of these articles and react to them by commenting, analyzing and supporting with relevant peer review articles.
The writer will have to read carefully before giving constructive comments on the article. APA and in-text citation must be used as each respond to the two articles must have in-text citations with a peer review article to support your comments. The writer will provide a reference at the end of each comment. They will be a minimum of 1 reference for each respond to the tow articles.
Project Portfolio Management and Article Analysis Sample Answer
Article 1
Wonderful post!!! The author has clearly outlined the necessary practices that should be conducted by anyone who would like to venture into portfolio management. In the article, it is emphasized strongly that the first step towards successful Project Portfolio Management (PPM) is the ideation portfolio management; a process that entails the evaluation of projects to identify their potential for bringing value to an organization. Several scholars agree that robust front-end processes should be put in place to ensure that the project portfolio attains its set objectives. Managers who establish the process of ideation portfolio as their foundation end up attaining competitive advantage and organizational success (Teller et al., 2012). In addition, customers should also be integrated into PPM. The author highlights that the integration of customers is essential in especially in an environment where clients demand higher value. The article further reports that it is of great importance for managers to understand the diversity that exists in the global business for them to achieve their set objectives.
It is surprising to learn that approximately 75% of projects fail even before they get into their implementation stage a clear indication that something is seriously wrong with project managers (Petit, 2012). One of the reasons why projects fail is the lack of regional and corporate culture which are potential determinants in the success of any project.
Article two
Project portfolio management entails a number of activities such as risk change, supply change, team management, and human resource. To achieve optimal results, project managers should determine the best tools and techniques for use. Martinsuo (2013) enlightens that portfolio projects should have effective team management and planning for them to be successful.
Project managers should understand that during project development, continuous changes may occur. According to Jonas (2010), the managers should be flexible enough to counter any undesirable change that may jeopardize the project. The author states that during the selection of project managers, some of the factors that are examined include the applicant’s competencies and career orientation. However, this is not just enough as there are several other factors that should be examined. For instance, a competent project manager should inspire a shared vision, be a good communicator, and uphold integrity among others.
Project Portfolio Management and Article Analysis References
Jonas, D. (2010). Empowering project portfolio managers: How management involvement impacts project portfolio management performance.International Journal of Project Management, 28(8), 818-831.
Martinsuo, M. (2013). Project portfolio management in practice and in context. International Journal of Project Management, 31(6), 794-803.
Petit, Y. (2012). Project portfolios in dynamic environments: Organizing for uncertainty. International Journal of Project Management, 30(5), 539-553.
Teller, J., Unger, B. N., Kock, A., & Gemünden, H. G. (2012). Formalization of project portfolio management: The moderating role of project portfolio complexity. International Journal of Project Manag
