The Value and Challenges of a Portfolio Approach to Manage an IT Project

Hallows, J. (2005). Information Systems Project Management: How to Deliver Function and Value in Information Technology Projects. Retrieved from http://ehis.ebscohost.com

With the exceptional growth in technology, the present day projects are often large and complex involving a significant risk. So, a Project Management Methodology enables the delivery organization to handle these projects comprehensively, systematically and in an integrated manner, which results in strategic, tactical and operational benefits.

(ABSTRACT) This research project addresses the issues affecting information technology development and deployment. The issues represented in this study are addressed in the context of IT

The Case Study for PROJ587 will place the student in the role of a senior manager in charge of one of your company’s Strategic Business Units (SBU). Your first task in this new position is to develop a project portfolio management process and then use this process to select projects for your SBUs portfolio. The Case Study will involve the application of the tools and techniques of multi-project/program management and will deal with the analysis and establishment of project management systems based

In the time it has taken me to complete the IT Management course of study at Webster University I have learned that there are additional tasks that I was previously unaware of in regard to the management of Information Technology. Although I work in the IT field, my adult education was anchored in the Psychology field where the use of IT assets is limited at best. Learning the importance and relevance of organizational behavior, finance, communication systems, project management, procurement, systems analysis, and communications security in regards to IT management was mostly new to me. I chose to write this essay to show the way each subject that was required for the IT Management degree affected my capstone project.

IT by itself does not provide any value, however, the alignment of IT to strategic, operational, and cultural objectives provides business value. Thus, the CIO must ensure that any new investment in IT is for the sake of business objectives and not for “IT for ITs sake”. Ensuring business alignment against IT project delivery is critical, must be undertaken for any investment and is the key component of IT value.

Portfolio and project management are similar and sometimes thought of as being one another. Between the project and portfolio management the goals and the intended strategic action is similar. The process between the portfolio management includes and involves the resources that list a process, which includes the evaluation, selection, and prioritization. Portfolio management and strategic management assist with the organizations missions and goals. These lay out the objective in the continuous planning and monitoring that assist with reaching the goals.

Project portfolio management can enable an organization to prune redundant or overlapping projects, use resources more effectively and to keep closer watch on projects' progress to ensure projects do not go over-budget or overtime (Solomon 2002:1). However, despite the technique's obvious advantages, it can meet with profound resistance when it is implemented in practice. 'Turf wars' are common at many organizations, in which representatives of various departments jockey for scarce resources. Every department has its 'pet projects' that it may fear losing to overly rigorous scrutiny.

Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.

The Project Administrator should effectively bring out to find the opportunity to have the ability to know the select commitments. Yet again, a documentation can be very comprehensive and will be purposely structured with particular Circumstances of Recommendations, yet could consist of the associated with responsibilities (Heagney, 2012):

• • • • • • clearly defined goals excellent communication management involvement definitive timelines Project management skills S.M.A.R.T Objectives.

A project portfolio is a group of projects that share and compete for the same resources and are carried out under the sponsorship or management of an organization (Archer & Ghasemzadeh, 1999a, 1999b). Turner and Müller (2003, p. 7) defined a portfolio as “an organization (temporary or permanent) where projects are managed together to coordinate interfaces, prioritize resources between projects, and thereby

Today’s CIO needs industry specific knowledge and overall business competence. ROI has become a significant part of the equation. To full discuss the evolving role of the CIO and how they can use Information Technology Portfolio Management to ensure that investments in Information Technology are not wasted? This essay will look at greater detail the eras of the CIO and the technology used by them to achieve the best results.

Strategically, what must Pan-Europa do to keep from becoming the victim of a hostile takeover? What rows/categories in Exhibit 2 will become critically important in 1993? What should Pan-Europa do now that they have won the price war? Who should lead the way for Pan-Europa?

In chapter 8, corporations are majority using information technology strategy in order to provide business units with competitive advantages. This proven by many researchers had identified opportunities of information technology in creating competitive advantages. According to Rockart and Scott Morton (1984), the opportunities are information technology able to improve each value adding function, link with customers and suppliers to increase