Archive for October, 2009

The requirement of continuous evaluation of projects

October 9, 2009
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The requirement of continuous evaluation of projects In today’s unpredictable world, Benko et al (2003) considered the process of maintaining strategic alignment as a continuous activity tied to the capital budgeting process. As priorities change, as more information becomes available, and as the art of the possible continues to evolve, organisations come under increasing...
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Projects prioritization

October 9, 2009
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Projects prioritization Complementary to the assessment of relationships between evaluation, selection and categorisation and of projects, Datz (2003) considered that portfolio management is one of the core strategic criteria and its beauty is that, ultimately, the prioritization process allows funding for the projects that most closely align with organisation’s strategic objectives. In the same...
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Projects categorization

October 9, 2009
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Projects categorization Project categorization and selection perceived as a critical step (Crawford et al 2006), in strategy implementation, aligning capability with the strategic intents, as the decisions made in this phase impact all subsequent project activities. Appropriate project categorisation facilitates achievement of multiple organisational goals, such as long term, short term, internal, external, tactical...
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Projects evaluation

October 9, 2009
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Projects evaluation Studies on this field revealed that project portfolio selection is a crucial decision in many organizations, which must make informed decisions on investment, where the appropriate distribution of investment is complex, due to varying levels of risk, resource requirements, and interaction among the proposed projects. (Ward et all 2009 identified portfolio as...
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The link of portfolio management with organisational strategy

October 9, 2009
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The link of portfolio management with organisational strategy Modern theory of project management is supporting positively the organisational requirement of linking strategy with portfolio management as a success factor (Englund 2000, Littler et al 2000, Miller 2002, Morris et al 2004, PMI 2004, 2006, Srivannaboon 2006, Milosevic et al 2006). Given the hegemony of...
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Why using portfolio management?

October 9, 2009
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Why using portfolio management? As Haughey (2008) referred, the key activities of portfolio management are: projects evaluation, cost and benefits identification, progress reporting communication of key project data, resource and capacity planning. It helps management to make informed evaluations of their strategic plans and progress (Ward et all 2009). Through this process, new strategic...
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The path through portfolio (S1)

October 9, 2009
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The path through portfolio (S1) Portfolio management theory was first developed in the area of financial investments as a mechanism for reducing risk (Markowitz, 1952). Today lifecycle management for service sector organizations is increasingly complex, given the required speed to market, extended supply networks. Portfolio seems to be a powerful path that can objectively...
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Project Management Implementation Paths

October 9, 2009
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To go back in history, as Kerzner 2001 and Daft 1997 stated, the modern exploration and creation of theory in project management started about 60 years ago . From the middle of the 20th century, a lot of studies of business structures and project management were carried out. Project managers increased their knowledge and...
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Feature

Top ten reasons why a project fails

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1. Poor planning: Who are your IT managers and do they get enough opportunity to plan or under pressure from senior management they tend...
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The Top Ten Reasons Why You Need Project Management

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1. Control Scope Creep and Manage Change Small changes in demands occur on every project.  They come from management, the customer, your project team,...
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The benefit of a PMO

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In today’s complex business environment new projects are constantly being developed as organizations seek new ways to reduce costs, improve processes, increase productivity, and...
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Project Management Quotes

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Project Management Quotes It must be considered that there is nothing more difficult to carry out nor more doubtful of success nor more dangerous...
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PM GLOSSARY

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FS finish to start IFB invitation for bid LF late finish date LOE level of effort LS late start date OBS organizational breakdown structure...
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