PROJ 587 Week 8 Final Exam (Version 1)
- The objective of a portfolio is to allow the organization to be focused, responsive, and agile. The ability to pick the right projects and make the right investments is critical for a business’ success. Every portfolio has three main goals: a. Strategic alignment and direction b. Portfolio value maximization c. Balance risk versus rewards
- A. Inventory: The first step in the new PPM process is to evaluate the existing project inventory. B.Analyze: In the identification process, the inventory of projects and programs are assembled. C. Project Prioritization and Selection. D. Optimize: After prioritization is complete, further assessment still needs to be done. E. Mobilize: When the inventory, analysis, prioritization, and optimization phases are complete, it is then time to set in motion the decisions made for the portfolio.
- A. Critical chain project management (CCPM). This is a variation on traditional CPM methods, focusing on methods for sharing contingency. B. Critical Path Scheduling (CPM) programs. These are the basic tools for scheduling and tracking projects. C. Buffer: are a key part of the schedule and how it is managed. D.Challenges associated with implementing CCPM:
- Augustine’s 4 questions A. Is it Legal? B. If someone else did “this” to you, would you think that it was fair? C.Would you be content if this were to appear on the front page of your hometown newspaper? D. Would you like your mother to see you do this?
- NPV: – Expected Commercial Value – Balanced Scorecard
- 1. Level 1 – Common Language: 2. Level 2 – Common Processes: 3. Level 3 – Singular Methodology: 4.Level 4 – Benchmarking: 5. Level 5 – Continuous Improvement: