PPMP20012 Ass 2 ronakpandhya20012

docx

School

Scholar College of Commerce, Rawalpindi *

*We aren’t endorsed by this school

Course

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by UltraBravery9719

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Student name Student ID 1. Final Response to Weekly Discussion Forum Questions (40% marks) - (Minimum 150 words for each question) Week Questions Responses (Provide your final response to each question which could be the same as you provided in the discussion forums or a revised/refined one) Week 4 Q1 How strategic alignment can be achieved in a portfolio? Q2 The examination of strategic alignment evaluates the extent to which a company's portfolio helps to the attainment of its primary objectives. Assessing the Influence of Portfolio Components on Organisational Objectives. Through the implementation of strategic alignment research, firms may effectively guarantee that their portfolio is structured in a manner that aligns with their long-term objectives. Facilitating extensive communication and collaboration among all stakeholders is crucial in ensuring comprehensive engagement in the process of strategic alignment analysis ( Jonas, 2010 ). Collect information from workers across various hierarchical levels and departments. This practise assures the endorsement of major stakeholders and facilitates a comprehensive comprehension of the portfolio's congruence. A company's strategy is not something that remains the same throughout time. Always be aware of the strategic course and make adjustments to the portfolio as needed. Alignment analyses should be reviewed and updated on a regular basis to account for shifting strategy goals ( Ghonim et al., 2022 ). This adaptability helps keep the portfolio current and in line with the company's ever-changing objectives. Systems thinking helps with strategic planning in a number of ways, including helping one see the big picture, ask the right questions, weigh different outcomes, collaborate with others to create effective solutions and initiatives, and 1 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week Questions Responses (Provide your final response to each question which could be the same as you provided in the discussion forums or a revised/refined one) How systems thinking can be effectively applied in program and portfolio manageme nt? hone one's creative abilities to better adapt to new situations. Project managers can benefit from systems thinking since it helps them better understand the nature of the problem they are attempting to address. Improved problem- solving and project management are the results of this enhanced understanding ( Kock et al., 2020 ). Better solutions and more appropriate project management lead to a more successful project. One of the fundamental premises of systems theory is that examining the parts or the whole of the world can be misleading since the cosmos is made up of interrelated entities whose conduct is often unpredictable. More and more efforts are becoming entangled due to the interconnected nature of the problems being addressed and/or the fluidity of the environments in which solutions must work ( Chi et al., 2020 ). Systems thinking offers a novel perspective on the influence of extraneous elements on a project and a holistic understanding of the complex, ever-changing environment in which initiatives are implemented. Week 6 Q1 Pick one technique and explore it. Discuss how this In order to quantitatively evaluate a large number of things, a scoring model might be used. Scores based on factors including risk, cost, and potential financial gain can help governance teams prioritise projects. Finding the options that need to be scored, defining the criteria that will be used to make a final choice, scoring each criterion on a scale of 1 to 10, scoring each option on a scale of 1 to 10, and then calculating the overall score for each option are the steps involved in developing a scoring model ( Vousinas, 2019 ). The capacity to prioritise tasks is crucial in product management. When managers are tasked with juggling many factors with varying degrees of importance, they confront a formidable problem. Potential actions in such cases might be objectively ranked using a weighted scoring 2 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week Questions Responses (Provide your final response to each question which could be the same as you provided in the discussion forums or a revised/refined one) technique can assist in portfolio decision- making? Q2 Discus how formalizati on can impact project portfolio success. What is the role of PPMIS in portfolio methodology. One major benefit of using a weighted scoring methodology is the increased objectivity it brings to setting priorities. The use of weighted scoring requires the establishment of criteria prior to the scoring of any task ( Zhang et al., 2019 ). It is clear that PPM does more than just help firms reach their stated goals; it also boosts the overall success rate of projects. The steps involved in managing a portfolio of projects and the functions performed by each stakeholder. For project portfolio management to be effective, a consistent method of analysis, decision making, goal setting, progress monitoring, project rating, and information sharing on the use and availability of resources is required. In the realm of project management, it ranks among the highest priority tasks ( Arsanjani & Ershadi, 2022 ). Every successful endeavour begins with a well-thought-out strategy and timetable. The PMIS also has built-in scheduling capabilities that will make managing projects much easier. The group will utilise a timetable to plan out their activities for each day. Thus, PMIS is useful for organising tasks. Resources might include everything from people to machinery to manufacturing capability. Time and effort are not wasted because of poor resource management or lack of timely updates (Bechtel et al., 2021). Purchasing can also be controlled with PMIS software. Spending on materials and machinery can be tracked more easily. 3 of 11

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week Questions Responses (Provide your final response to each question which could be the same as you provided in the discussion forums or a revised/refined one) formalizati on? 2. Reflection on your learning experience (25% marks) - (400 – 600 words) “Reflective learning is a way of allowing learners to step back from their learning experience, helping them to develop critical thinking skills and, improve on future performance by analysing what they have learned and how far they have come.” - Provide the discussion about your learning and experience in this unit, and the positive effects on your future learning. - Example: https://www.monash.edu/rlo/assignment-samples/education/education-reflective-writing/reflecting-on-learning The cycle of reflective practise proposed by Kolb (1984) is a theoretical framework intended to facilitate individuals in the process of acquiring knowledge and insights from their personal experiences. My learning is shown below with the help of reflective model is shown below-  Stage 1: Concrete Experience (CE) assimilating information. It is common knowledge that businesses need to evolve in order to stay relevant. When cutting-edge technological advancements are introduced to the market, they bring both thrilling new opportunities and severe new challenges. Technological developments have had a far-reaching effect on many elements of enterprises, including information systems and portfolio management. In this piece, we'll examine the development of unit programme and portfolio information systems, highlighting their past and potential contributions to educational enhancement. 4 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio I picked quite a boatload of useful knowledge while assisting with the course and portfolio information systems. The process of creating a portfolio was something I found fascinating. These skills will serve me well in whichever career I pursue, I'm confident. My plans for the not- too-distant future include expanding and deepening my understanding of information systems.  Stage 2: Reflective Observation (RO) processing information. The textbook on portfolio information systems has been one of the most helpful resources I have come across. Because of my experience here, I have a thorough understanding of the many business systems available and how they may be used to improve productivity. In addition, I have a better grasp of how these technologies are integrated into a company's operations. Whatever future decisions I make, I can be confident that this information will serve me well. When it comes to learning actual content, I found the unit-programmed and portfolio-information systems to be very helpful. They crammed a lot of useful material into my brain that will serve me well in my future studies. This knowledge is crucial to my professional and academic growth, since it will allow me to deepen my understanding of the topic and refine my approach to it.  Stage 3: Abstract Conceptualization (AC) assimilating information. This incredible opportunity has helped me learn more about the many kinds of information systems and how they can be used to improve business processes. Reading the case studies and actual implementations helped clarify the concepts. The opportunity to learn more about the features of several popular commercial software packages was quite helpful. Everything we did in class taught me something I can use to my work. For me, the most difficult part of the unit plan was getting up to speed on all the different programmes. Because I was not familiar with them, I struggled to figure out how to utilise a few of the tools. However, I am grateful for the opportunity to enhance my education since I know the skills, I have acquired will be useful in the future. 5 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio  Stage 4: Active Experimentation (AE) I have acquired a substantial amount of knowledge through my active participation in the training course offered by the portfolio information systems unit. The curriculum has played a significant role in enhancing my research and critical thinking abilities. Additionally, the portfolio requirement has been helpful in fostering my self-assurance in the realm of communication skills. I am pleased to have had the opportunity to participate in this class, and I am eagerly anticipating the acquisition of knowledge on the potential avenues it has provided for my future educational pursuits. Studies examining the influence of project and portfolio information technology (IT) on companies and other organisations can provide valuable insights and knowledge. I am grateful for the opportunity to enhance my understanding of information technology through many means, facilitated by the unit's meticulously designed and enlightening curriculum, as well as the completion of the portfolio project assigned to us. The prospect of advancing my education and enhancing my abilities in the realm of information systems for my future professional endeavours elicits a profound sense of enthusiasm. 6 of 11

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio 3. Evidence of your participation in the discussion forums (25% marks) Week Snapshot of forum contribution Week 4 (Q1 & Q2) (Provide the snapshots which show your participation in the discussion forum 1) 7 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week Snapshot of forum contribution Week 6 (Q1 & Q2) (Provide the snapshots which show your participation in the discussion forum2) 4. References (5% marks) - (At least two references for each question) Week References (Reference list) 8 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week References Week 4 (Q1 & Q2) Jonas, D. (2010). Empowering project portfolio managers: How management involvement impacts project portfolio management performance. International journal of project management , 28 (8), 818-831. https://citeseerx.ist.psu.edu/document?repid=rep1&type=pdf&doi=e1ce7c628fe67c3988f8c7453df4f66d1f2d3458 Ghonim, M. A., Khashaba, N. M., Al-Najaar, H. M., & Khashan, M. A. (2022). Strategic alignment and its impact on decision effectiveness: a comprehensive model. International Journal of Emerging Markets , 17 (1), 198-218. https://www.researchgate.net/profile/Mohamed- Khashan/publication/344031639_Strategic_alignment_and_its_impact_on_decision_effectiveness_a_comprehensi ve_model/links/5f5e32a792851c0789635f0f/Strategic-alignment-and-its-impact-on-decision-effectiveness-a- comprehensive-model.pdf Kock, A., Schulz, B., Kopmann, J., & Gemünden, H. G. (2020). Project portfolio management information systems’ positive influence on performance–the importance of process maturity. International journal of project management , 38 (4), 229-241. https://e-tarjome.com/storage/btn_uploaded/2020-09-06/1599370956_11267- etarjome%20English.pdf Chi, M., Huang, R., & George, J. F. (2020). Collaboration in demand-driven supply chain: Based on a perspective of governance and IT-business strategic alignment. International Journal of Information Management , 52 , 102062. https://www.researchgate.net/profile/Maomao-Chi/publication/338537962_Collaboration_in_demand- driven_supply_chain_Based_on_a_perspective_of_governance_and_IT- business_strategic_alignment/links/62591a6b4173a21a0d142af9/Collaboration-in-demand-driven-supply-chain- 9 of 11

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week References Based-on-a-perspective-of-governance-and-IT-business-strategic-alignment.pdf Week 6 (Q1 & Q2) (Reference list) Vousinas, G. L. (2019). Advancing theory of fraud: the SCORE model. Journal of Financial Crime , 26 (1), 372- 381. https://www.researchgate.net/profile/Georgios- Vousinas/publication/329389819_Advancing_theory_of_fraud_the_SCORE_model/links/5c7eb781458515831f87 9103/Advancing-theory-of-fraud-the-SCORE-model.pdf Zhang, Z., Kim, H. J., Lonjon, G., & Zhu, Y. (2019). Balance diagnostics after propensity score matching. Annals of translational medicine , 7 (1). https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6351359/ Arsanjani, M. A., & Ershadi, M. (2022). Avenues to improving the effectiveness of project portfolio management in the construction industry. International Journal of Management Science and Engineering Management , 17 (4), 259-268. https://www.researchgate.net/profile/Mahmoud- Ershadi/publication/356840521_Avenues_to_improving_the_effectiveness_of_project_portfolio_management_in_ the_construction_industry/links/647c5075b3dfd73b77623ed6/Avenues-to-improving-the-effectiveness-of-project- portfolio-management-in-the-construction-industry.pdf 10 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week References Bechtel, J., Kaufmann, C., & Kock, A. (2021). Agile projects in nonagile portfolios: How project portfolio contingencies constrain agile projects’ teamwork quality. IEEE Transactions on Engineering Management , 69 (6), 3514-3528. https://www.tim.tu- darmstadt.de/media/tim/forschung_2/IEEE_TEMS_Bechtel_et_al_Agile_projects_in_nonagile_portfolios_how_pr oject_portfolio_contingencies_constrain_agile_projects_teamwork_quality.pdf 11 of 11

PPMP20012 Ass 2 ronakpandhya20012

Related Documents