PPMP20012 Assessment 2 - Template

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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? The concept of "strategic alignment" refers to the manner in which an organization's smaller initiatives are integrated within the broader framework of its objectives. The following examples illustrate instances of critical perspectives that recognise the achievement of strategic alignment within a portfolio. Clear Objectives: It is imperative that the objectives of the project be well expressed and are in accordance with the overarching strategic objectives of the organisation (Arokodare & Falana, 2021). In order to proficiently choose and execute initiatives, it is necessary to possess a comprehensive understanding of the organization's overarching strategic orientation. Regular Assessment: Monitoring project development in regard to strategic goals is a crucial aspect that warrants attention. At this stage, the ongoing operations of the project are assessed to determine their alignment with the project's objectives, and any necessary modifications are implemented (Lappi et al., 2019). Resource Allocation: It is essential to properly allocate resources, particularly those connected to finances, employees, and technology, in order to successfully align the operations of the organisation with the strategic goals of the company. 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) Q2 How systems thinking can be effectively applied in program and Communication and Collaboration: The establishment of effective collaboration and open communication channels between project teams and senior management may play a crucial role in ensuring the alignment of efforts with strategic goals and facilitating prompt resolution of any modifications that may arise (Beese et al., 2023). Flexibility and Adaptability: It is imperative for businesses to maintain their agility in order to promptly adapt to market fluctuations or alterations in their overarching strategic approach. In situations when projects fail to contribute to the long-term success of a firm, it may become imperative to reassess their prioritisation or maybe eliminate them altogether (Garousi Mokhtarzadeh et al., 2020). The utilisation of the systems-thinking technique proves to be highly advantageous in the realm of programme and portfolio management. To achieve this objective, it is important to possess a comprehensive understanding of the interconnectedness among the diverse elements constituting an intricate system. The use of a systems approach is limited to the domains of programme and portfolio management alone (Dietrich & Lehtonen, 2005). Interconnectedness : Using a systems-based approach, managers view projects and programmes as interconnected wholes. When compared to the traditional, linear method, this viewpoint is superior in helping managers spot underlying connections, bottlenecks, and potential conflicts (Martinsuo & Geraldi, 2020). Root Cause Analysis : It allows managers to go to the bottom of issues rather than merely addressing their surface manifestations. Due to the fact that problems are prevented in the first place, this method improves output over time 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) portfolio manageme nt? (Ahmadi-Javid et al., 2020). Feedback Loops: Managers may enhance their ability to manage the outcomes of a system and mitigate unintended consequences by cultivating a deeper understanding of the interdependencies within the system. Continuous Improvement: Systems thinking's focus on development and alteration makes it a potent engine for creative problem solving. Managers can make strategic changes based on the lessons learned from ongoing projects that enhance the portfolio as a whole (Kock & Gemünden, 2019). Week 6 Q1 Pick one technique and explore it. Discuss how this technique can assist The Analytical Hierarchy Process (AHP) is an effective tool for organisational portfolio management. The AHP's hierarchical structure might be useful for making decisions with several criteria and consequences. By adhering to this rigorous technique, we can objectively compare and rate products (Kock et al., 2020). Typical portfolio objectives (criteria) include financial rewards, risk tolerance, strategic goal alignment, and available resources. Based on these criteria, the project's alternatives are prioritised ( Aghajani et al., 2023 ). Methodology calls for prioritising considerations and comparing alternatives head-to-head. Using AHP, decision-makers may evaluate the relative importance of each criterion and the relative merits of each alternative, and the resultant mathematical synthesis provides a reliable order in which to explore those alternatives ( Cheng et al., 2023 ). Because it incorporates both quantitative and qualitative factors, AHP stands apart from other portfolio analysis approaches. The balance between openness and precision in its design is excellent. The adaptive portfolio theory (AHP) aids 3 of 11

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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) in portfolio decision- making? Q2 Discuss how formalizati on can impact project portfolio success. What is the role of PPMIS in portfolio decision-making when faced with several competing objectives (Roberts & Hamilton Edwards, 2023). In business, formalisation is routinely used to boost productivity. An organization's project portfolio might benefit from having established processes, procedures, and conventions. Standardisation, clear communication, and strategic coordination increase the likelihood of success. Formalising procedures with the use of a Project Portfolio Management Information System (PPMIS) is highly recommended (Teller et al., 2012). Data regarding a collection of projects may be collected, analysed, and displayed with the help of this online tool. Decisions may be better organised with the help of PPMIS since it provides real-time information on project performance, resource allocation, hazards, and organisational context (Ershadi et al., 2020). The primary responsibility of portfolio performance management (PPM) is to ensure that the portfolio's results help the organisation meet its strategic goals and objectives. The PMO is in charge of this by doing business analysis, checking forecasts and budgets, minimising risks, and overseeing the project's stakeholders ( Wu et al., 2021 ). Better strategy alignment, prioritisation, resource allocation, and risk management are just some of the areas where PPMIS is expected to shine. Costs, technology, resources, and procedures across a portfolio of projects are assessed and optimised in concert. Managing a portfolio's performance means making sure it's helping the firm reach its long-term objectives (Villamil et al., 2022). 4 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) 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 Reflection on the learning experience It is well acknowledged that the sector of business is characterised by its rapid speed and constant evolution. Emerging technologies present a myriad of promising opportunities as well as formidable challenges. The advancement of technology in recent decades has had a significant influence on several business domains, notably information systems and portfolio management. How I felt about learning in the unit program A plethora of databases may include information pertaining to the department's plans and investments. I found the exploration of various approaches for displaying portfolios to be intellectually stimulating. The aforementioned qualities will be advantageous in whatever prospective 5 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio career I choose to follow in the future. I aspire to pursue a career as an information system professional in the forthcoming years. This possibility installs within me a sense of enthusiasm. What I learned in the unit program I learned a lot from the information systems readings. Working here has provided me with a great education in the wide variety of business systems and the ways in which they can be used to improve productivity. In addition, I have a greater understanding of how these technologies are incorporated into the functioning of a business. This information will serve me well in whichever profession I choose. How the unit program has implications for my future learning During my time at the institution, I found that both the unit curriculum and the portfolio information systems were quite helpful. They crammed a tremendous amount of material into my mind that will be of assistance to me in my future studies. As I continue my education and make efforts to better my talents, the knowledge that I have learned from this experience will prove to be quite helpful. What I enjoyed most about the unit program I really appreciated the opportunity to learn more about information systems and how they can be used to improve company operations. The real- world examples and case studies helped to solidify the concepts for me. In addition, I appreciated the opportunity to learn about various software packages and the crucial roles they play in aiding businesses. Overall, the unit programme taught me a lot that will be useful to me in the future. What I found most challenging in the unit program Personally, I found the segment of the unit course that focused on acquiring proficiency in various software products to be quite challenging. As a result of my lack of expertise, I had challenges in comprehending the use of some instruments that were at my disposal. However, I express my 6 of 11

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PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio gratitude for being afforded the privilege to attend an educational institution, as the knowledge and skills acquired inside will undoubtedly be advantageous in my next endeavours. How the unit program has helped me grow as a learner Upon reflection, the choice to enrol in the Portfolio Information Systems Unit curriculum proved to be the most advantageous option I could have taken. The training has significantly enhanced my research and critical thinking abilities, while the portfolio requirement has instilled a notable level of self-assurance in my writing and spoken communication proficiencies. I am pleased to have had the opportunity to enrol in this programme, and I am enthusiastic about the prospects it has afforded me in furthering my academic pursuits. 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) Week 6 (Q1 & Q2) (Provide the snapshots which show your participation in the discussion forum2) 7 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio 4. References (5% marks) - (At least two references for each question) Week References Week 4 (Q1 & Q2) Arokodare, M. A., & Falana, B. R. (2021). Strategic agility and the global pandemic: The agile organizational structure, a theoretical review. Information Management and Business Review , 13(1 (I)), 16-27. https://doi.org/10.22610/imbr.v13i1(I).3145 Beese, J., Haki, K., Schilling, R., Kraus, M., Aier, S. and Winter, R., 2023. Strategic alignment of enterprise architecture management–how portfolios of control mechanisms track a decade of enterprise transformation at Commerzbank. European Journal of Information Systems , 32(1), pp.92-105. https://doi.org/10.1080/0960085X.2022.2085200 Garousi Mokhtarzadeh, N., Amoozad Mahdiraji, H., Jafari-Sadeghi, V., Soltani, A., & Abbasi Kamardi, A. (2020). A product-technology portfolio alignment approach for food industry: a multi-criteria decision making with z- numbers. British Food Journal , 122 (12), 3947-3967. https://pureportal.coventry.ac.uk/files/29870519/Binder1.pdf Lappi, T. M., Aaltonen, K., & Kujala, J. (2019). Project governance and portfolio management in government digitalization. Transforming Government: People, Process and Policy , 13 (2), 159-196. https://www.emerald.com/insight/content/doi/10.1108/TG-11-2018-0068/full/pdf Dietrich, P., & Lehtonen, P. (2005). Successful management of strategic intentions through multiple projects– Reflections from empirical study. International Journal of Project Management , 23(5), 386-391. 8 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week References https://www.sciencedirect.com/science/article/abs/pii/S0263786305000359 Martinsuo, M., & Geraldi, J. (2020). Management of project portfolios: Relationships of project portfolios with their contexts. International Journal of Project Management , 38 (7), 441-453. https://research.cbs.dk/files/67816274/miia_martinsuo_et_al_management_of_project_portfolios_acceptedversion. pdf Ahmadi-Javid, A., Fateminia, S. H., & Gemünden, H. G. (2020). A method for risk response planning in project portfolio management. Project Management Journal , 51 (1), 77-95. https://journals.sagepub.com/doi/pdf/10.1177/8756972819866577 Kock, A., & Gemünden, H. G. (2019). Project lineage management and project portfolio success. Project Management Journal , 50 (5), 587-601. https://biopen.bi.no/bi- xmlui/bitstream/handle/11250/2657345/Kock_Gemunden_2019.pdf?sequence=4 Week 6 (Q1 & Q2) 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://doi.org/10.1016/j.ijproman.2020.05.001 Aghajani, M., Ruge, G., & Jugdev, K. (2023). An Integrative Review of Project Portfolio Management Literature: 9 of 11

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PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week References Thematic Findings on Sustainability Mindset, Assessment, and Integration. Project Management Journal , 87569728231172668. https://journals.sagepub.com/doi/pdf/10.1177/87569728231172668 Cheng, L., Shadabfar, M., & Sioofy Khoojine, A. (2023). A state-of-the-art review of probabilistic portfolio management for future stock markets. Mathematics , 11 (5), 1148. https://www.mdpi.com/2227-7390/11/5/1148/pdf Roberts, P., & Hamilton Edwards, L. (2023). Portfolio management: A new direction in public sector strategic management research and practice. Public Administration Review , 83 (4), 947-959. https://onlinelibrary.wiley.com/doi/pdf/10.1111/puar.13633 Teller, J., Unger, B. N., Kock, A., & Gemünden, H. G. (2012). Formalization of project portfolio management: The moderating role of project portfolio complexity. International journal of project management , 30 (5), 596-607. http://dx.doi.org/10.1016/j.ijproman.2012.01.020 Ershadi, M., Jefferies, M., Davis, P., & Mojtahedi, M. (2020). Towards successful establishment of a project portfolio management system: business process management approach. The Journal of Modern Project Management , 8 (1), 2-14. https://journalmodernpm.com/manuscript/index.php/jmpm/article/view/JMPM02302 Wu, M. E., Syu, J. H., Lin, J. C. W., & Ho, J. M. (2021). Portfolio management system in equity market neutral using reinforcement learning. Applied Intelligence , 1-13. https://link.springer.com/article/10.1007/s10489-021- 02262-0 10 of 11

PPMP20012 – Term 2, 2023 Program and Portfolio Management Information System Assessment 2 – Consolidated Portfolio Week References Villamil, C., Schulte, J., & Hallstedt, S. (2022). Sustainability risk and portfolio management—A strategic scenario method for sustainable product development. Business strategy and the environment , 31 (3), 1042-1057. https://onlinelibrary.wiley.com/doi/pdfdirect/10.1002/bse.2934 11 of 11

PPMP20012 Assessment 2 - Template

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