Find Resources and
Connect with members on topics that interest you.
Please sign in to see your topics.
Many organizations attribute their success to being able to execute their strategic goals and objectives. Execution will be successful if it is measured and if corrective actions are taken at appropriate times when there are deviations. Thus, there has to be a plan that should enable measurement, help track progress and enable corrective action to be taken at the right time to keep the execution on track. One such tool that enables the organization to track its execution is a portfolio/program/project management tool.
A program is group of projects that are working toward achieving one goal. Among the skills that every organization requires, program and project management skills are important and find pride of place. Successful project management requires adoption of a structured approach to deal with projects, programs and portfolios. Hence, it is important for the organization to establish the practice of portfolio/program/project management and provide it with top management support. Establishment of a portfolio/program/project practice will enable the organization to reduce, if not eliminate, unsuccessful projects that cost organizations dearly in terms of time, expense and quality of deliverables meeting stakeholders’ expectations.
Organizations can learn from the experiences of other organizations in different industries, so it would be useful for organizations to adopt globally accepted best practices in the form of a defined organizational framework for program and project management. An ideal framework would be one based on the Project Management Institute’s (PMI) A Guide to the Project Management Body of Knowledge (PMBOK Guide) or Projects in Controlled Environments (PRINCE2) version 2.
To read the rest of this article, click here.
You must login to leave a comment.
You must be a logged in to start a discussion.