Project Portfolio Management

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A Projekt és Portfolió Menedzsment (PPM) megoldásokkal a szervezetek egy rendszerben integrálhatják valamennyi projektjük, emberi erőforrásaik és pénzügyeik kezelését. A rendszerek az egész szervezet működésére kiterjedően képet nyújtanak az összes felügyeleti és menedzsment információról. A vezetők számára jól áttekinthető felületeken valós idejű információt, adatokat szolgáltatnak a döntéshozáshoz, valamint az IT és az általa támogatott üzleti folyamatok jobb összehangolásához. A cikk bemutatja, hogy napjainkban milyen nagy jelentősége van az EU támogatási rendszerben érkező anyagi források nyomon követhetőségének, az átláthatóság és ellenőrizhetőség biztosításának, a PPM erre is megoldást nyújt
Improve transparency and responsiveness of your business, reduce system redundancy, manage resources (both in-house and outsourced) and leverage advances in technology to enhance citizen services. Make IT a valued partner in your agency mission.
Project and portfolio management (PPM) product provides a single system of record for jointly defining agency priorities and aligning IT investments accordingly. It also enables your agency’s project management office to efficiently manage resources, projects and their associated costs. PPM enables your agency to automate, streamline and optimize the selection, delivery and assessment of IT investments–eliminating many of the manual processes for managing and reporting project-related tasks. PPM allows you to select IT investments based upon agency objectives, transform IT into a customer service provider, manage IT programs for net benefits, measure IT success based upon key performance indicators and proactively manage the investment and portfolio management process

This paper takes de Bono's explanation of 'design thinking' as the starting point for a report on a doctoral research project that began with a conventional 'why?' question, and then, instead of looking for an 'explanation', chose to look forward in time to establish an understanding of 'how to' think differently about a recurring problem. The catalyst for this work was observation of otherwise competent managers making desperately wrong decisions when good decision making was crucial to their company's future. The initial choice to 'look forward' when designing the research strategy was made well before there was a clear understanding of what was being observed. Given that tra-jectory, this paper explores the process by which a simulation was created and then used in conjunction with a comparatively new approach to data collection (Explanation looks backwards and design looks forward [1].).

This Impact Report identifies and summarises the diverse impacts, resulting from the £500m of UK funding of Science and Technology in 2013, using numerous quantitative metrics and short case study extracts.  It shows how the varied impacts of a national science and technology organization and its many funded programmes can be annually identified, captured, tracked, and summarised in a public document.

The report was produced for, and by, the Science and Technology Facilities Council (STFC) -  the UK Research Council responsible for funding: (1) all UK astronomy, particle and nuclear physics research, (2) related UK science and technology facilities (e.g. as Harwell and Daresbury), (3) the UK contribution to international science (e.g. CERN, international telescopes and space missions), (4) innovation and business spin-off programmes, and (5) UK public engagement activities.

The Report was co-researched and co-authored by the STFC Impact Team, including myself while Impact Evaluation Manager in 2013, with Dr. Claire Dougan-McCallie (lead author/Head of Impact) and Jenny Beard, with additional input from senior managers, and many data and case study contributions from other key managers across STFC.

Varied key impacts are identified and reported including:

• Research amongst the best (by citation impact) in astronomy, nuclear and particle physics.
• Supported research of 226 Principal Investigators in 70 universities, led to 1,100 peer-reviewed papers in 2012.
• Facilities (the Diamond Light Source, ISIS and CLF) were used in 2012/13 by over 4,200 unique users , in over 2,400 experiments, producing over 1,000 papers in peer-reviewed journals.

• Technology from CERN benefited the UK economy by over £100 billion every year.
• Funding the development of the UK’s space, internet and computer animation industries, returned over £500 billion to the UK economy per annum.
• Funded Innovation Campuses hosted over 230 enterprises and supported over 5,000 jobs.
• UK industry won £43 million in contracts from the international subscriptions funded, and had accumulated a total of £150 million since 2005.

• Funded research inspired future generations to study STEM subjects, attracting 90% of UK undergraduates to study physics, funded 782 PhD students  and 16,800 student training days.
• Between 2009 to 2012 public engagement programmes engaged people on 58 million occasions, with 2 million people engaged in face-to-face activities in 2013 alone.

Portfolio selection problem is an important issue in financial engineering which has been solved by a variety of heuristic and non-heuristic techniques. The most studies are concentrating on classical mean-variance model. In this paper, mean-variance model is extended to mean-variance-skewness model. The extended model is generally a high-dimensional nonlinear programming necessitating the use of efficient heuristics to find the solution. Hence, this paper presents a heuristic method named Gray Wolf Optimization (GWO) method.  Finally, several numerical examples are provided to illustrate the modeling idea and performance and effectiveness of the proposed algorithm is compared against the exact approach (LINGO software) in terms of fitness value and required computational time. Results show that the proposed GWO is very promising and achieves quality results for fuzzy portfolio selection in a reasonable time..

This paper describes the methodology and results obtained after productivity improvement work conducted on two consecutive building construction jobs.  The first one was used to evaluate production rates and productivity, current construction methods, potentials and lacks of construction equipment, current construction planning methodology, and existing tools to asses productivity.  These are briefly discussed in this paper. The second job was preplanned based on the experience and detailed documentation obtained in the first one. Work was conducted in order to “design” construction methods in detail, develop a detailed production planning based on the construction methods developed, select crew components and select their specific tasks, and design communication and control tools. Although the second job’s schedule and budget were originally calculated using standard methods (i.e. historical production rates), new schedule and budget were calculated based on the preplanning effort. Construction performance was measured against these values.

This article consists of a review of the literature on the main PPM models, in addition to a critical analysis to build a theoretical framework. Four case studies are presented of companies from different sectors, which aim to identify the main PPM practices adopted, their implementation stage and the relations between those practices and the benefits obtained. The main research results show that PPM is still rarely present in organizations. The lack of PPM may be one of the factors hampering the correct implementation of strategic actions defined by the executive team. The deployment of strategic actions in projects and the structureless delegation of responsibility for implementation to mid- level managers creates unnecessary conflicts, with a consequential loss of an organization’s energy.

This book deals with the project portfolio management (PPM) concept and its functions. The book begins by explaining project, program and portfolio management principles. This introduction is followed by an attempt  to transfer portfolio management concepts to the ground of public sector organizations. The author refers to the very rich, international, current literature in this field, broadly discusses and consolidates the presented ideas and the latest research results. The author of the book sets out also important recommendations for project management practitioners in the public sector organizations based on results of mixed-method research study conducted in Polish labour market organizations.

The implementation of Enterprise Resource Planning (ERP) Systems has become generalized in companies and organizations, as a way to achieve the supply chain integration, to improve productivity and gain competitive advantages. Those implementations, more than simple technology projects, have revealed to be complex and time consuming business projects due to the structural and behaviour changes involved. This article analyzes, through the Project Coordinator’s point of view, two real cases of ERP implementation projects at Ibico Portuguesa, comparing the project management methodology adopted by Ibico with the Project Management Body of Knowledge (PMBoK), coming to the conclusion that the use of the PMBoK norms and best practices by the Project Manager could have been a success factor in those implementations, particularly referring to the elements that have been pointed as the most critical: planning, involvement and commitment of top management as well as stakeholders’ management.

Leadership traditionally centred around the idea of a “person in charge” leading subordinates / team members (i.e. vertical leadership), however recent literature indicates that leadership may be shared in a team by assigning the leadership role to the person with the most appropriate knowledge, skills and abilities needed by the project at any specific time (i.e. shared leadership). Shared leadership does however, not substitute vertical leadership – the two concepts are extremes on a continuum and complement each other. Although the leadership responsibility formally rests with the project manager, it is regularly assumed by team members to lead temporarily in order to solve a technical or other issue, and then handed back to the project manager. A contemporary stream of literature defines this process as balanced leadership.

This thesis investigates how different project types and project life cycle phases may influence the choice of leadership style. It also confirms that an appropriate balance between vertical and shared leadership improves the likelihood of project management success. A new Leadership Style Model is proposed and the thesis contributes to answering the main research question:

How does the leadership style influence perceived project management success?

To answer the above over-arching question, three sub-questions were formulated and addressed in Chapters 3 to 6:

 How do different project types (pace, complexity, novelty and technological uncertainty) influence the balance on the continuum between vertical and
shared leadership?
 How do different project life-cycle phases (pre-execution, execution and post-execution) influence the balance between vertical and shared leadership?
 How does an appropriate balance between vertical and shared leadership influence the likelihood of perceived project management success?

A web-based, self-administered questionnaire was distributed to people working on South African projects, and 313 complete responses were received. The collected
data were analysed by applying hypothesis testing techniques and cross-tabulation.

The study confirms that an appropriate balance between vertical and shared leadership styles improves the likelihood of project management success. The more
complex, and the higher the levels of technology employed, the more shared the leadership style should be. On the other hand, the higher paced projects require a more vertical leadership style. Respondents indicated that highly novel projects callfor a more vertical leadership style – this contradicted the hypothesised leadership balance -possible reasons for this deviation are provided in Chapters 4 and 6.

A further finding of the study is that during the post-execution phase, the leadership style should move towards more shared leadership than in prior stages. However,
respondents were uncertain of the influence of the other project phases (pre-execution and execution) on the appropriate balance of leadership style. Various
reasons for this uncertainty are provided in Chapters 5 and 6.

The thesis presents a new perspective on the influence of project type and project life cycle phases on the appropriate balance between vertical and shared leadership. Furthermore, it gives insights into the influence of an appropriate balance of leadership on the likelihood of perceived project management success.

The Project Leadership Style (PLS) Model presented in this thesis, explains how the variables of project types and project life cycle phases relate to different leadership
styles (vertical and shared leadership), and it also guides the practitioner to selecting appropriate leadership styles for specific project situations.

Project business management is high risk for all parties involved. For organizations performing projects for paying customers, a very central area of uncertainty is profitability from one or more projects. A second one is liquidity, and on top of that, the customer must be satisfied. Assigning persons as Project Business Managers can help meet these goals for individual projects. For a portfolio of projects, a Project Business Management Office (PBMO) can be beneficial to ensure portfolio-wide profitability.

Current business uncertainties in dynamic environment drive the banking industries to keep on in shape of competitive in the market. The organizations are forced to formulate and implement their strategic initiatives in a form of projects. Some of the project initiatives require prioritization, and we manage them by utilizing their unique resources capabilities in a form of project portfolio management (PPM) capability to deliver the outcome of it as a business performance by the organizations. Previous studies have found that moderating project management office (PMO) practices positively impact the project performances; hence, they should be affecting the final objective which is the business performance. This paper proposes a conceptual integrated research model of PPM capability, as realization of dynamic capability influences business performance perceived by the organization through an application of project management office practices in the organization Keywords: dynamic capabilities, project portfolio management (PPM), project management office (PMO), perceived business performance

When we look at project management as it is taught and discussed today, there is a common focus on internal projects, performed by mostly also internal teams. The concept of a project there is that an organization builds a project team, a kind of task force, to apply certain changes, promote strategies, implement tools and infrastructure, possibly disinvest from something, merge or split organizations and so on. However: many project managers look at their current jobs and find, this does not apply to them and to the major challenges that they are facing. What these project managers are doing is better described as Project Business Management.

Project Portfolio Management (PPM) is a combination of projects or a set of business practices that integrates projects under the sponsorship organizations. These require different approaches, strategies, models, and practices when managing projects and programs within the portfolio. In Nigeria, many organizations have projects, subsidiaries, and branches in many cities across the country. However, they fold, abandoned, temporarily suspended or close within a decade or two, which is worrisome. These are linked to their PPM practices. As such, the aim of this paper is to identify, assess and discuss the PPM practices in Nigeria's construction organizations with a view to examining the effects of such practices on the project portfolios. The research reviewed data from journals, conference/seminar/workshop papers, the internet etc. on the Project Portfolio Management (PPM) related fields and areas that help to identify, and narrow fourteen-PPM practices within the Nigerian and Global Context. These identified practices form the backbone of the research questionnaire, randomly administered to various professionals in Nigeria's construction industry. In the overall analyses, these fourteen-PPM practices are significantly effective in terms of good performances in PPM organizations in Nigeria's construction industry. These practices provide positive results on the overall PPM performances in achieving the organizational objectives in the portfolios.

Objective: Public projects are used to delivery policy objectives. From a financial perspective, the Major Projects Authority (MPA) estimated a whole life investment of £488 billion for 199 major projects in 2014, only a small subset of the total number of public projects. Given the financial exposure, the impact of endemic public project failures could put the economic health of the nation at risk. This thesis studies the challenges facing public projects. It applies an organisational capabilities lens to investigate projectification, when organisations shift away from functional-based organising (FBO) toward project-based organising (PBO).

Research Design: This study adopts an interpretivist research paradigm, with a constructionist epistemology and an idealist ontology, and employs an abductive research strategy. Structurally, it follows the Cranfield Executive Doctorate in Business Administration (DBA) methodology, with a linking document that summarises three complementary research projects: a systematic literature review (SLR) followed by two empirical studies that investigate the Department of Health (DoH) during the early phases of the Next Stage Review Implementation Programme (NSRIP). The findings are derived from over 250 academic literature sources, 100 government publications and 41 semi-structured interviews.

Findings: Project-based organisations depend on a core competency of changing organisational forms. Project-based management (PBM), a particular type of organising developed during projectification, depends on seven capabilities related to managing complexity, investments, governance, specialisms, learning, value creation and organisational change. There are 17 routines and five actors involved in developing the set of seven PBM capabilities. Publicness matters when developing the PBM capabilities, with each capability suffering from distinctive routines that did not fully mature, even after an extended period of time, and five involved actors struggling to develop at least one routine.

Contributions to Theory: The study concludes that successful projectification in the public sector depends on a double loop capability construction process, i.e. on having PBM capabilities and capabilities to change organisational forms. With capabilities either inherited or constructed internal, a paradox is created. Projectification in the public sector depends on FBM, an organisational form unsuited to creating new capabilities, to create PBM capabilities. Further, the study demonstrates that publicness matters to projectification.

Contributions to Practice: The study informs public sector practices, providing insights for public sector reform policies related to organisational capability and professional skills development. The study informs programme and project management (PPM) practice, proposes two different frameworks to help assess the maturity of public organisation’s PBM capabilities.

Key words: project management, projectification, project-based, publicness, inheritance, public sector, civil service, capability, routines, actors, project management office, distinctive

 Abstract-Oil and gas industry plays an important role for Indonesia's economy. There is a phenomena where projects in the oil & gas industry still often have experiences in the schedule delays and cost overrun compared to the plan. The aim of this paper is to explore how the project communication that is moderated by the existence of Project Management Office (PMO) influences the project performance in oil and gas industry in Indonesia. An online questionnaire was used as a survey tool to obtain data from Project Managers/ Team Leaders level within the oil & gas projects in Indonesia. The data were then processed using statistical analysis with SPSS software and continued by PLS-SEM. The results were analyzed and discussed with Experts to check validity and feedback was gathered and documented. It can be concluded that PMO has a positive influence to the project communication which the end will also have a positive influence to the project performance of oil and gas projects in Indonesia. A number of areas have been identified about how to improve the positive effect of PMO.

Nigeria is a west African country with abundant natural resources and harbours a long term aspiration is to be among the top 20 economies in the global world by the year 2020. These lofty objectives can only be achieved and or realized through the requisite mega and multiple infrastructural development projects, programs and portfolios within the Nigeria's built environment. Portfolio is defined as projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. However, Organizations still struggle with the resource sharing problem across projects as well as constant changes in their portfolios. Also, the rate at which many organizations' businesses and portfolios get abandoned or fold within one or two decades in Nigeria is worrisome. The aim of this research paper is to identify and discuss the factors shaping Project Portfolio management in Nigeria's built environment with a view of identifying, examining, and highlighting the impact of some selected factors on

Applying Portfolio Management principles through implementation of a robust process is no easy task in a corporate en-vironment. This is especially true in the unique area of corporate shared services where the business unit is not a profit center. This presentation will explore the steps in developing a sound process for managing a portfolio of investments and how it ap-plies to the challenging environment of the shared services business unit.

Faced with a direct competitive challenge, Canica Design Inc.'s Executive Vice President, Alden Rattew, and his team must navigate unique pressures and expectations to protect the company's flagship product. He is tasked with delivering strategic recommendations to respond to the competition and ensure the company’s position in the marketplace. How can it shore up or improve market position? Should Canica respond by trumping their own product? Will this build or dilute brand recognition?

Current business uncertainties in dynamic environment drive the banking industries to keep on in shape of competitive in the market. The organizations are forced to formulate and implement their strategic initiatives in a form of projects. Some of the project initiatives require prioritization, and we manage them by utilizing their unique resources capabilities in a form of project portfolio management (PPM) capability to deliver the outcome of it as a business performance by the organizations. Previous studies have found that moderating project management office (PMO) practices positively impact the project performances; hence, they should be affecting the final objective which is the business performance. This paper proposes a conceptual integrated research model of PPM capability, as realization of dynamic capability influences business performance perceived by the organization through an application of project management office practices in the organization Keywords: dynamic cap...

The ever-increasing penetration of projects as a way to organise work in many organisations necessitates effective management of multiple projects. This has resulted in a greater interest in the processes of project portfolio management (PPM), with more and more software tools being developed to assist and automate the process. Much of the early work on PPM concentrated on the management of IT projects, largely from the perspective of the management of resources and risk. Many of the recent articles have been by vendors of the software, promoting the value of the PPM process. However, the claims made in those articles are typically only supported by anecdotal evidence. In this paper, we assess whether there is a correspondence between the use of PPM processes and techniques, and improvements in the performance of projects and portfolios of projects. Based on our findings, we introduce a three-stage classification scheme of PPM adoption, and present a

Nigeria is an African country with abundant natural and human resources with an aspiration to be among the top 20 economies in world by the year 2020. Such objective can only be achieved through requisite infrastructural development projects within the Nigeria's built environment such as road, power plants and adequate housing estate development projects etc. However, Nigeria's housing estate developments were insufficient in terms of demands; do not reflect the desired housing needs of the end-users; in some-cases affordable but not qualitative; do not possess green building features. These has led to challenges and questions about project portfolio management (PPM) strategies that align and fit portfolios with the organizational objectives while also delivering estate development projects that are less risky and marketable. The aim of this research paper is to assess the PPM strategies used by housing estate development organizations in Nigeria's built environment with a view of identifying, examining, and highlighting the impact of these strategies on housing estate development project portfolios in Nigeria. Literature reviewed led to identification and assessment of five PPM strategies. Krejcie and Morgan table was used to determine the sample size, while Cronbach's alpha, mean item scores, relative importance index, T-test statistics were used for data analyses. The results show that any chosen PPM strategy(ies) by Housing Estate Development organizations will not be easy to apply, use, implement nor will it be excellent in the strive to achieve the Organizational Objectives in any given Portfolio.

Project portfolio Management has the ability to deliver significant benefits to organizations. Albeit project portfolio management increase project success, not all organizations have a fully adopted PPM mechanism in place. Contributions on the adoption of PPM practice have only been done by a few researchers. It is believed that there is no single way of adopting PPM instead there are stages and approaches to PPM adoption. There has not been much research on this part of the PPM literature. (De Reyck et al, 2005) did an extensive research on measuring PPM adoption which forms the basis of this research.
The objective of this research is to answer the research question – What are the factors influencing PPM adoption in organizations?

Purpose: The objective of this research is to provide a step by step guide with a mix of tools for managers to align strategic objectives with the business unit project portfolio. Design/methodology/approach: The proposed model is applicable for business units and medium enterprises. It is a sequential model that gives a smooth transition from strategic vigilance to a selection of projects and programs which helps the organization to attain a competitive advantage in industry environment. Based on the most common tools of strategic planning and foresight, the main idea is to generate some sense of sequence and feedback process, in order to select the best ideas for the resource allocation optimization. Findings: When the project portfolio is defined by a set of rules or criteria, the construction of a technology roadmap is the next logical step, not only to classify the projects but to create a path through which the organization can implement them. A methodology to plan all this process was developed. Originality/value: This proposed model helps in the integration of the strategic planning with the step-by-step process at the functional level to run the projects and programs.

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Download more inspiration and info at: standout portfolio.com