Project Portfolio Management and the Stategic Project Office

Topics:
Commercial Lending
Tags:
Management,
Microsoft Office,
Organization,
Personal Finance,
Portfolio Management,
Project Portfolio Management,
SPO,
Strategy
Source:
PM solutions

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Overview: It has been seen that organizations struggle to find a way to link strategic business objectives with the individual projects they charter. A Strategic Project Office can address this issue. The SPO is an organizational entity responsible for mapping strategy to projects and monitoring projects and portfolios to ensure they continue to address strategic initiatives, even as these initiatives change over time. It serves as the critical link between executive vision and the work of the enterprise. Linking strategy to projects is revolutionary thinking in some organizations. The concept of having someone in the organization look at the strategic objectives with respect to ongoing projects is still new in many organizations. Thus, Portfolio management begins with the selection of the portfolio. It is concerned with fit, utility, and balance. If done effectively, portfolio management will ensure optimum use of people and resources.

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Format: PDF | Size: 60KB | Date: Jan 2002 | Pages: 2

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