PROJ 587 Week 5 Case Study

To organize and prioritize the current and future projects in the pipeline in a way that fits into the PMB budget of $5B, and ensures projects that increase sales, growth, and stockholder value are of top priority, whereas projects that are not beneficial are either put on hold or discarded.

Congratulations! You have just completed the project charter, scope statement, and WBS. Now that you know what needs to be done, as the Project Manager, you are now ready to begin planning your project.

* Management of the portfolio by means of a set of selection criteria for proposed projects, as well as reallocating, reprioritizing, and/or rescheduling current projects at various phases of the pipeline, (thus the portfolio and project management processes become interconnected, and the portfolio is constantly reevaluated).

The project manager is under budget but behind schedule. He/She should spend some of their savings getting more resources to put them back on schedule.

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

| 1) Reduced personnel costs2) Access to better and more specialized talent3) Allows for better growth potential, particularly concerning shared services

Make sure the entire report is written in your own words and all sources have been cited.

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.

In the current business environment, the demand for project managers is ever growing. In short, project management is a provisional project constrained by time, cost and scope (A guide to the project management body of knowledge, 2013). Between the immense organization, optimization, and communication assets skilled project management brings to a project, it is easy to see why project management is a booming field of study. Furthermore, project management can be both financially and personally rewarding when long term milestones and goals come to fruition.

Project Management Institute. (2000). _A Guide to the Project Management Body of Knowledge (4th ed.)._

* Development began in late 2002 and was to be completed in 12 months’ time.

Project management is the discipline of using policies and procedures to manage a project from creation to competition. The intent of this paper is to assess the role of a project manager and determine if I am well suited for a career in project management. To achieve this goal, I will be discussing the following areas: job description, general career path, education requirements, salary, career outlook, and the pros and cons. I will also be interviewing a colleague that currently working as a project manager to gain a better understanding of typical duties associated with the role.

Information Technology (IT) projects are an important part of a company's growth and advancement. Playing a key role in the development of most businesses, IT projects impact all departments and many work processes that take place throughout an organization. Certain factors must be taken into consideration when moving forward with an IT project, such as budget and importance. Effectively prioritizing IT projects helps to ensure that important projects are completed first. Using Project Portfolio Management (PPM) helps companies to identify projects that offer the most potential

Portfolio management supports an organization’s mission and goals by ensuring the program is managed properly and the timing is on a set schedule. Portfolio management supports the accomplishments and the preferred outcomes. The tools and techniques involved assist with the efficiency and the effectiveness. The portfolio management supports in the organization utilizes the resources where they can be applied throughout the organization. Portfolio management assists with creating the operational needs throughout the period of the project. The portfolio management achieves with the vision, mission, and goals and even identify the risk. The time cost and all resources that would be required help identifying within the goals.

Project management is an essential part of businesses and industries in order to advance ahead and add value to products. Project management enables companies to innovate, plan strategically, and for the economy to progress. The important parts of projects are often values such as team working, planning, innovation, time and budget management, and leadership. In the modern society, some projects can be pharmaceuticals (inventing new drugs), IT solutions (new technologies), energy and environment (other sources of energy such as solar), and military (new weapons and machines). The similarities are such that these projects are undertaken to improve the lives of