Week 4: Course Project Rough Draft – Sony Corporation
Group E:
Russell Stout
Carl Smith
Joshua Roberts
Denise Estrada
Ashel Chingaya
Keller Graduate School of Management
PROJ587 – Advanced Program Management
Professor: Dr. Janet Durgin
March 28, 2013
Table of Contents
Week 4: Course Project Rough Draft – Sony Corporation Group E: 3 Portfolio Management Plan 3 Organization Strategic Plan 3 Sony Mission 3 Organization’s strategic capacity plan 4 Flow chart of Portfolio Process 9 Outline of Project Selection Criteria 9 Program Management Plan 11 Works Cited 13 Extra Research to be included in paper or discarded 14
Week 4: Course Project Rough Draft – Sony Corporation
Group E:
Portfolio Management Plan
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Portfolio Management Process
In order for the adoption of a portfolio management process (which would be new to this unit) to be successful, the following steps must be followed under the guidance of the portfolio management, and in collaboration with the individual project managers and PMO: * Transition from the existing pure-functional organizational structure to a matrix-style structure by which key functional executives, comprising a newly formed portfolio process committee, would be directly responsible for making portfolio-management decisions; * Identification of the strategic goals of both the SBU and the parent company, Sony, and reevaluating goals as the market or technologies shift, or as Sony adjusts its corporate strategies; * Adoption of appropriate methods and mechanics (i.e. strategic road map, target resource split, strategic buckets) for aligning these strategic goals with the project portfolio; * 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).
As the portfolio management process aims to preserve existing functional departments and minimize impact on the flow of existing operations, we recommend a transition to a
PROJ 592 All Discussions Week 1 - 7 Purchase here http://devrycourse.com/proj-592-all-discussions-week-1-7 Product Description PROJ 592 Week 1 DQ 1 WBS Construction PROJ 592 Week 1 DQ 2 Project Cost Estimates and Assumptions PROJ 592 Week 2 DQ 1 Cost Components PROJ 592 Week 2 DQ 2 Estimating Processes PROJ 592 Week 3 DQ 1 Project Schedules PROJ 592 Week 3 DQ 2 Sensitivity Analysis PROJ 592
Businesses are facing a dichotomy between wanting to chalk out an all-time structure and strategy for their organization, and recognizing that their world is in a constant state of flux [3]. For most of the 20th century they were largely focused on the static elements of this dichotomy. However, in the last decade changes have become more frequent and more dramatic, so much so that a whole branch of management is now devoted to the subject of change itself.
A medium-sized firm Clean fabrics Inc in United States has increased the company’s revenues strategically about $350 million dollars per year. The company struggles to meet the objectives of expanding the company along with the cost control. The vision of the company is to provide the right choice to the clients and supplying the support services for the cruise ship industry in the different parts of the world operating in the areas of hotel and travel. The services are supplied to major hotel chains and cruises including linen services in the south east area of United States. Comparatively, the cruise ship industry provides the company with an
One method for managing change in an organization is to be prepared through constant evaluation of the company. The management team needs to continually evaluate sales data, changes in the marketplace and activity by the competition to be able to anticipate change. When a company can see change coming as a result
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.
This model was developed by Tom Peters and Robert Waterman (Mindtools 2012). Essentially, it aims to improve the overall performance and productivity of an organization while aligning all departments to suit the shared vision of the organization (Peters 2011). There are a number of benefits within its flexible nature and ability to look back and analyze the success of a previously implemented strategic change within the organization (Simister 2011). It is retroactive, yet it can be an important diagnostic tool in learning for future endeavors of change (Peters 2009).
Project management and by extension portfolio management are curious disciplines. They attempt to present simple methodologies for guiding an activity (or group thereof) through all its stages from inception to completion, within defined cost and time boundaries. Many of
Title page Updated 1-28-12: Business cover sheet, i.e. no APA title page 1: Project Overview
There are a number of methods that have been applied in the process of creating and evaluating strategic goals in any project. Some of the most effective methods include the market potential method, the historic method and the fulltime equivalent method. Creating strategic goals in IT project portfolio management as it helps those involved in the project to focus on the project, make appropriate co-ordination and be in a position to measure the progress of the project effectively without any struggles. As such, the creation of strategic goals in IT Project Portfolio Management is always very important for
In large organizations, all the three domains, projects, programs, and portfolios, have to meet the maturity standards. The IT portfolio plays high-level strategic roles by ensuring that project investments are being managed most appropriately. The main benefit of IT portfolio management is enabling measurement and objective evaluation of IT investments and alignment with the business strategy which will maximize the value of IT investments while minimizing risk. However, the ignoring of the IT portfolio management will impact negatively on the communication and alignment between IT and business leaders, which lead to the wrong distribution of the resources and budgets on projects
The basic goal of project portfolio management is to select the projects and programmes out of a set of necessary and available projects within the organization whose realization helps achieve the strategic organizational goals, taking into account the available resources (Beric, Jovanovic & Jovanovic 2012).
We have analyzed the current state of the portfolio of projects, what kind of metrics are currently being collected, and how the collected metrics are being presented to PPM. We 've also analyzed whether PPMs are able to garner what they need to know to make business decisions. Based on the analysis, we have proposed a new set of metrics that need to be collected from the project teams and new ways of reporting them to the PPM.
Portfolio strategy is all about carefully selecting the right project with limited allocating resource and by investing in a careful constructed portfolio of diversity businesses, companies are able to reap higher and more consistence return over the long period.
The IT portfolio management, as Lane (2011) states, “is to help the organization prioritize IT projects so that limited resources can be managed, ensuring IT 's alignment with business priorities and maximizing IT investment.” The criteria identified are used as part of IT portfolio management.
The four goals that must be achieved when selecting project portfolio are reviewing and defining the organization mission, analyzing and formulating strategies, set objectives to achieve strategy, and implementing strategies through projects. (page 29)