Portfolio Management Implementation | My Assignment Tutor

PROJ6005_Assessment_4_Brief_07112017.Docx Page 1 of 8 ASSESSMENT BRIEFSubject Code and TitlePROJ6005 Sustainability in Project Portfolio and ProgramManagementAssessmentAssessment 4: Portfolio Management ImplementationReportIndividual/GroupIndividualLengthNo longer than 2500 words (Final report)Learning Outcomes1. Critically evaluate the strategic value of projectmanagement and project portfolio management,paying particular attention to their potentialimpact on project management life cycles,project offices, change management, resourcemanagement and organisational change.2. Demonstrate understanding and initiative in theapplication of project portfolio managementtools, techniques and processes to achieveimproved business practices and performanceand integrate sustainable project outcomes.3. Develop and defend arguments both for andagainst the implementation of project portfoliomanagement in a range of organisations.SubmissionFinal Report – By 11:55pm AEST/AEDT Sunday end ofWeek 1 of Module 6WeightingFinal Report – 40%Total Marks40 marks Context:Assessment 4 builds upon the second assessment but focuses on the implementation ofproject portfolio management. This assessment is designed to highlight the skills,methodologies, tools and techniques required in project selection and management of aportfolio in order for an organisation to meet its specific business objectives. Asorganisations become more multi-faceted, evaluating the performance of their projectportfolios becomes more complex and new methods of evaluation must be developed toaccount for this complexity.PROJ6005_Assessment_4_Brief_07112017.Docx Page 2 of 8Improving performance is also a key determinant for achieving organisational successwhich, in turn, is related to the project portfolio management maturity level of theorganisation which may vary considerably. During implementation, organisations will beimpacted by changes created by project and portfolio management initiatives and theproject manager’s response must be cognisant of the corporate culture in which it is takingplace and the strategies needed to account for any adverse impacts.Instructions:You have been successful in convincing executive management that your organisationshould introduce a project portfolio management function and now that all the planning hasbeen completed, you have been given the responsibility for its implementation. However,not everyone in the organisation is convinced that it is the right approach to take and youcan already feel the forces of resistance starting to build from those who will be directlyaffected by its day-to-day operation.You have determined that the status quo for managing projects in the organisation is not anoption and will argue against it at every opportunity. The best way to convince yourcolleagues of the benefits of implementing project portfolio management is to review theprocesses and assess whether improvements to project selection, performance and successhave been made, greater potential exists for aligning the business operations with strategicobjectives, the benefits of enhanced portfolio management and evaluation to meet morecomplex needs are evident, and whether you think there is the potential for improving thematurity level of the organisation in project portfolio management in the future.You recognise that during implementation, the changes created by the initiative havecaused resistance from colleagues and that your assessment must be cognisant of thecorporate culture in the organisation and include strategies to account for differentperspectives from key stakeholders and any other adverse impacts this may cause. Inresponding to this ‘challenge’, you have decided to document your findings in a report thatwill be presented to executive management as part of the organisation’s annual reviewprocess which addresses the following requirements:Situational Context Is the organisation investing in the right projects? Is the organisation optimising its capacity? How well is the organisation executing? Can the organisation absorb all the changes? Is the organisation realising the promised benefits?Portfolio Evaluation What method is the organisation using to evaluate its overall project portfolio?PROJ6005_Assessment_4_Brief_07112017.Docx Page 3 of 8 What is the justification of using the chosen method in comparison to some of theothers that are available? Are there any challenges that the organisation might face in using the currentmethod if it were to operate in a global environment? Is the benefits management lifecycle incorporated in the evaluation process? How might benefits management be helpful in successfully meeting the deliverablegoals of the organisation’s projects?Portfolio Management How is project portfolio management ensuring that the organisation’s collectiveprojects are aligning with its strategic objectives? Has a Project Management Office been introduced into the organisation and, if so,has it played a role in terms of standardising practices and increasing project successrates? If not, why not? What alternative approaches are available? What quantitative and qualitative tools and techniques is the organisation currentlyusing to manage its project portfolio and are they effective?Maturity Levels At what maturity level do you believe the organisation is at in terms of its approachto project portfolio management? What are the key best practices which can be adopted to improve the maturity leveland which model (e.g. PRINCE2, OPM3) do you think would be appropriate? How might you go about implementing this change and what assistance from theorganisation would you require?Corporate Culture Assess the corporate culture of the organisation and whether it is likely to bedifferent in terms of key internal stakeholder influence and input (e.g. HR Director,Technology Manager, Facilities Manager, Accountant). Will any change management initiative in terms of project portfolio managementprocess improvement and benefits realisation need to take into account thedifferent perspectives of these stakeholders and what concerns might eachstakeholder express? What aspects of the corporate culture do you think would support project portfoliomanagement and its sustainability criteria? Are there any challenges involved in getting project portfolio management and itssustainability criteria embraced by the organisation?In considering these requirements, be mindful of the differing views and staff perspectiveson the benefits and potential outcomes and highlight key instances where theimplementation of project portfolio management is having both positive and/or negativeeffects and how they should be addressed.PROJ6005_Assessment_4_Brief_07112017.Docx Page 4 of 8Outcome to be submitted:Final report – by end of week 1 of Module 6Submit your final report to Executive Management.Learning Resources: Resource on APA writing style:Learning and Academic Skills Unit. (2016). Academic Writing Guide. APA 6th ed.Sydney, Australia: Laureate Australia. Resource on business report writing:Victoria University of Wellington (2013). How to write a business report. School ofMarketing and Internal Business and Student Learning Support Service, Wellington,New Zealand. http://www.victoria.ac.nz/vbs/teaching/publications/VBS-reportwriting-guide-2013-July.pdf Refer to the subject planner for learning resources on Modules 4 to 6 to completeAssessment 2.Assessment Criteria:Final report Knowledge and understanding (10%) Analysis and application with synthesis of new knowledge (30%) Evaluation of information (30%) Correct citation of key resources and evidence (10%) Effective communication (20%)PROJ6005_Assessment_4_Brief_07112017.docx Page 5 of 8Learning Rubrics – Final report AssessmentAttributesFail(0-49)Pass(50-64)Credit(65-74)Distinction(75-84)High Distinction(85-100)Knowledge andunderstanding(10%)Limited understanding ofrequired concepts andknowledgeKey components of theassignment are notaddressed.Knowledge orunderstanding ofthe field ordiscipline.Resembles a recallor summary of keyideas.Oftenconflates/confusesassertion ofpersonal opinionwith informationsubstantiated byevidence from theresearch/coursematerials.Thoroughknowledge orunderstanding ofthe field ordiscipline/s.Supports personalopinion andinformationsubstantiated byevidence from theresearch/coursematerials.Demonstrates acapacity to explainand apply relevantconcepts.Highly developedunderstanding ofthe field ordiscipline/s.Discriminatesbetweenassertion ofpersonal opinionand informationsubstantiated byrobust evidencefrom theresearch/coursematerials andextended reading.Welldemonstratedcapacity toexplain and applyrelevantconcepts.A sophisticatedunderstanding of thefield or discipline/s.Systematically andcritically discriminatesbetween assertion ofpersonal opinion andinformationsubstantiated by robustevidence from theresearch/coursematerials and extendedreading.Mastery of concepts andapplication to newsituations/furtherlearning.Evaluation ofinformation(30%)Limited understanding of keyconcepts required to supportthe pitch.Confuses logic and emotion.Information taken fromResembles a recallor summary of keyideas.Oftenconflates/confusesSupports personalopinion andinformationsubstantiated byevidence from theDiscriminatesbetweenassertion ofpersonal opinionand informationsubstantiated bySystematically andcritically discriminatesbetween assertion ofpersonal opinion andinformationsubstantiated by robust PROJ6005_Assessment_4_Brief_07112017.docx Page 6 of 8 reliable sources but without acoherent analysis orsynthesis.Viewpoints of experts aretaken as fact with littlequestioning.assertion ofpersonal opinionwith informationsubstantiated byevidence from theresearch/coursematerials.Analysis andevaluation do notreflect expertjudgement,intellectualindependence, rigorand adaptability.research/coursematerials.Demonstrates acapacity to explainand apply relevantconcepts.Identify logicalflaws.Questionsviewpoints ofexperts.robust evidencefrom theresearch/coursematerials andextended reading.Welldemonstratedcapacity toexplain and applyrelevantconcepts.Viewpoint ofexperts aresubject toquestioning.Analysis andevaluation reflectgrowingjudgement,intellectualindependence,rigor andadaptability.evidence from theresearch/coursematerials and extendedreading.Information is taken fromsources with a high levelofinterpretation/evaluationto develop acomprehensive criticalanalysis or synthesis.Identifies gaps inknowledge.Exhibits intellectualindependence, rigor,good judgement andadaptability.Analysis andapplication withsynthesis of newknowledge(30%)Limited synthesis andanalysis.Limitedapplication/recommendationsbased upon analysis.Demonstratedanalysis andsynthesis of newknowledge withapplication.Well-developedanalysis andsynthesis withapplication ofrecommendationsThoroughlydeveloped andcreative analysisand synthesiswith applicationof pretestedHighly sophisticated andcreative analysis,synthesis of new withexisting knowledge. PROJ6005_Assessment_4_Brief_07112017.docx Page 7 of 8 Shows the ability tointerpret relevantinformation andliterature.linked toanalysis/synthesis.models and / orindependentlydevelopedmodels andjustifiedrecommendationslinked toanalysis/synthesisStrong application by wayof pretested models and/ or independentlydeveloped models.Recommendations areclearly justified based onthe analysis/synthesis.Applying knowledge tonew situations/othercases.Correct citationof key resourcesand evidence(10%)Demonstrates inconsistentuse of good quality, credibleand relevant resources tosupport and develop ideas.There are mistakes in usingthe APA style.Demonstrates useof credible andrelevant resourcesto support anddevelop ideas, butthese are not alwaysexplicit or welldeveloped.There are nomistakes in usingthe APA style.Demonstrates useof high quality,credible andrelevant resourcesto support anddevelop ideas.There are nomistakes in usingthe APA style.Demonstrates useof good quality,credible andrelevantresources tosupport anddeveloparguments andstatements.Shows evidenceof wide scopewithin theorganisation forsourcing evidenceThere are nomistakes in usingthe APA style.Demonstrates use ofhigh-quality, credible andrelevant resources tosupport and developarguments and positionstatements. Showsevidence of wide scopewithin and without theorganisation for sourcingevidenceThere are no mistakes inusing the APA style.Effectivecommunication(20%)Difficult to understand foraudience, no logical/clearstructure, poor flow of ideas,argument lacks supportingevidence.Information,arguments andevidence arepresented in a wayInformation,arguments andevidence are wellpresented, mostlyInformation,arguments andevidence are verywell presented,the presentationExpertly presented; thepresentation is logical,persuasive, and wellsupported by evidence,demonstrating a clear PROJ6005_Assessment_4_Brief_07112017.docx Page 8 of 8 No effort is made to keepaudience engaged, audiencecannot follow the line ofreasoning.Little use of presentation aids,or the presentation aids andmaterial used are irrelevant.that is not alwaysclear and logical.Attempts are madeto keep theaudience engaged,but not alwayssuccessful. Line ofreasoning is oftendifficult to follow.Presentation aidsare used more foreffect thanrelevance.clear flow of ideasand arguments.The audience ismostly engaged, lineof reasoning is easyto follow.Effective use ofpresentation aids.is logical, clearand wellsupported byevidence.Engages theaudience,demonstratesculturalsensitivity.Carefully and wellpreparedpresentationsaids are used.flow of ideas andarguments.Engages and sustainsaudience’s interest in thetopic, demonstrates highlevels of culturalsensitivityEffective use of diversepresentation aids,including graphics andmulti-media.

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