“Coady used a strategy of focusing on reducing the number of projects in the portfolio.” Brieflydescribe the term portfolio in relation to the attached extract? CRISIS IT In May 2007, Frontier Airlines Holdings hired Gerry Coady as chief information officer (CIO).Nearly a year later the airline filed for bankruptcy under Chapter 11. In an interview, Coady describeshow he managed IT projects during the bankruptcy and recession crisis of 2008-2009.Fundamentally, Coady faced a situation of too many projects and too few resources. Coady used astrategy of focusing on reducing the number of projects in the portfolio. He put together a steeringcommittee of senior management that reviewed several hundred projects.The end result was a reduction to less than 30 projects remaining in the portfolio. How Can You Getto a Backlog of over 100 Projects? "There are never enough resources to get everything done."Backlogs build over time. Sacred cow projects get included in the selection system. Projectsproposed from people who have left the airline still reside in the project portfolio. Non-value-addedprojects somehow make their way into the project portfolio. Soon the queue gets longer. Witheveryone in IT working on too many projects concurrently, project completion and productivity areslow. Which Projects Remain?To cut the number of projects, the steering committee used a weighting scheme that reflected theairline's priorities, which were: fly safe, generate revenue, reduce costs, and customer service. Theweighting scheme easily weeded out the fluff. Coady noted that "by the time you get to the 20s themargin of differentiation gets narrower and narrower." Of the remaining projects, project sponsorshad to have solid justification why their project is important. Reduction of the number of projectsplaces emphasis on high value projects. What Advice Does Coady Have for Crisis Management? Intimes of crisis, it is easier to take bold steps to make changes. But you need to have a clear vision ofwhat you should be focusing on with the resources available. Coady suggests, "It comes back toreally having a good idea of what the initial business case for a project is and what resources it isconsuming, both people and otherwise." Source: Worthen, B., "Crisis IT," The Wall Street Journal,

The case is about a bankrupt airline. A new CIO was hired after a year of bankruptcy. The new CIO…

Answered: Coady used a strategy of focusing on…

Coady used a strategy of focusing on reducing the number of projects in the portfolio.” Briefly describe the term portfolio in relation to the attached extract?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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