Summary
Various topics of project management has been assessed with the help of a number of portfolios for the given assignment. A consolidated portfolio was created from 10 weekly portfolios and their respective learning outcomes are assessed and evaluated. A summary and evidence section has been proposed for every learning outcome The justification for choosing the PPPM applications has been assessed and evaluated.
1Course Learning Outcomes
Learning Outcome 1: Compare and contrast the advantages and disadvantages of different manual and electronic project, program and portfolio (PPPM) application systems within each PPPM knowledge area over the life cycle of a project, program or portfolio
Summary
In this assignment, I leant about PPPM application systems, different electronic and manual systems. The main aim of every PPPM applications is to break down the difficult task into a number of easy task so that the goal becomes achievable. I understand that the skill which is learned from this experience is to gain the potential to manage a project and check it that the project gets to completion. The advantages of the different systems over the span of the project includes the inventory. The PPPM applications help to pinpoint where the resources are exactly. As the entire process is fragmented, the applications help to provide a greater picture. This helps in the early stages of the planning also learnt about the involvement factor.
The manual and electronic projects as well as the PPPM application helps to ensure that the project becomes successful. It also helped me to understand the easy visibility of the performance issues in the project. I also came across several disadvantages though. Resources can act as an advantage but it can also act as a disadvantage in certain scenarios. I guess if a wrong person is made the head in charge of the resources, it can lead to a lot of complexity in the project. Moreover, the prioritization of every project needs to be checked so that the different elements of the entire portfolio are met. If there are a number of projects going on, I can assume that it can lead to the wastage of resources in organizing the labour and the operational costs of hiring them.
Evidence
I was recently involved in a field trip to assess the construction of a bridge. I learnt about the different project management systems and how they are checked to assess the system. It gave me an idea about throw different systems are applied in different domains of project management.
Evidence
Learning Outcome 2: Identify how project, program and portfolio (PPPM) application systems can assist project managers to monitor performance and manage changes within a project.
Summary
I decided to research a little but further about the PPPM applications and how they can provide the managers an advantage in gaining a project success. I understood that the PPPM applications not only runs the project but it also helps the project managers in choosing what types of executable projects need to be chosen and how the funding need to be initiated. I learnt that it helps the mangers in choosing the potential of every project and assess if they can support the goals and objectives of the industry. This is how the managers eliminates the projects if they do not meet the required criteria. To assess the performance and changes of the project, the contingencies and interconnections of the project are assessed with the help of PPPM applications. As per my understanding, the PPPM applications help the project manager to monitor the motion of the project. The assessment helped me to understand how the monitoring of the portfolios of the project are conducted and how they affect the projects which are in the portfolio.
Evidence
I was recently got involved with a press conference about project, program and portfolio application systems. The conference helped me to assess the role of a project manager in a project and how they can enhance their capabilities with the help of project, program and portfolio application systems.
Learning outcome 3: Propose appropriate project, program and portfolio (PPPM) application systems to support successful project, program and portfolio execution in different industry domains.
Summary
This assignment helped me to learn about the different PPPM application system in a project related to different domain of industry. The formal approach of the industries in prioritizing and orchestration for the overall success of the project was understood by me. It helped me to understand the different PPPM applications and selection methods. This assignment helped me to understand the importance of PPPM applications in determining how the funds in a project need to be utilized for properly returning the investment of the project. As an input to the selection process of the project, the time value of money sometimes steers the project selection. It helped me to assess how the future and present value of a project are determined and how different assumptions are made. It helped me to learn about future value, interest rates and budget determination of a project. The formulas of the present value helped me to assume the future value of the project. With the help of different PPPM applications, I also learnt about how to determine the net present value of the project. The financial based decisions overally determined the project selection methods along with the PPPM applications.
Evidence
I recently learned about the organisational maturity levels and various PPPM applications from the courses form our university. The assessment helped me to analyse different application systems which helped me a lot in completing this assignment. I also learned the role of a project manager from this assessment.
Learning outcome 4: Discuss contemporary developments in the use of project, program and portfolio (PPPM) application systems.
Summary
In this assessment, I learned about the various developments that have happened in the PPPM application systems. The longevity of the project is managed by the PPPM applications. The various developments in the mentioned topic has been assessed in a PPPM research program. It included about 400 organizations including non-governmental organizations and governmental agencies. A general report, IT report, construction industry report and organizational change report were developed which helped in assessing the various developments of the application systems.
Evidence
A survey related to information technology showed good results of a project to completion. It constituted about 60 organization and several mini projects which were broken down for efficiency. The use of PPPM applications were assessed.
2 Discussion and Conclusion
To conclude the report, it can be stated that four learning outcomes from the provided weekly portfolios has been evaluated conclusively in the given assignment. The outcomes have been evaluated according to their criteria and a small summary has been provided. The needs of a PPPM application system for the success of a project has been discussed and evaluated.
Binder, J. (2016). Global project management: communication, collaboration and management across borders. Routledge.
JOSEPH. PHILLIPS, P. M. P., CBAP, I., & PMP, C. (2018). PMP PROJECT MANAGEMENT PROFESSIONAL STUDY GUIDE. McGraw-Hill Education.
Kerzner, H. (2018). Project management best practices: Achieving global excellence. John Wiley & Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Leach, L. P. (2014). Critical chain project management. Artech House.
Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), 202-217.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute.
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