Human Resource Management Week 4 assignment

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Week4Discussion.docx

Respond to the following in a minimum of 175 words: 

Establishing a connection with business values and strategy is a key step in understanding the project selection criteria. Discuss what information is needed to understand key value and/or strategy points associated with project proposals. How do you decide what constitutes a good project and what criteria should be used to make the final decision?

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Please provide references and in-text citations for all of your posts (either from your assigned textbook and/or other journal or news articles). The link in the University library here provides information on citing sources:  Reference & Citation Generator – Academic Resources (phoenix.edu). 

Post 2 replies to 2 classmates below (in a minimum of 100 words). Be constructive and professional.

1 Karri Plaster

Project Management Offices (PMOs) are responsible for managing projects within an organization. A PMO's primary role is to ensure that projects are completed on time, within budget, and to the highest possible quality. PMOs are also responsible for providing expertise and guidance to project team members and stakeholders, maintaining project records and documentation, and managing the project's scope, schedule, and budget. PMOs are also responsible for organizing and coordinating the project's activities, and for ensuring that the project's objectives are met. 

Organizations with formalized program or portfolio management processes can benefit from having a clear and consistent process for project identification and selection, a clear understanding of the project's objectives, budget, and timeline, and a process for managing the project's scope, schedule, and budget. Having a PMO, portfolio manager, and program manager ensures that the project is managed in an effective and efficient manner, aligned with the organization's strategic objectives, and completed on time and within budget.

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2 Deanna Hunt

Project portfolio management better known as (PPM) is the process that is used by project managers and PMOs to analyze a project’s potential and formulate a plan to manage each project. The PPM process locks in existing data, forecasts pipeline opportunities, and provides all the information in real-time. A management strategy is where all the projects are managed under one umbrella, called a portfolio. PPM helps put things in perspective and supports making tough decisions based on the company’s vision.

Also an effective project portfolio management plan tends to weigh your decisions by generating data in real-time, preparing you to address every and all project activity.

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