Transcript Projects and Strategic Planning: • Projects are often utilized as a means of achieving an organization’s strategic plan. • Projects are typically authorized as a.

Projects and Strategic Planning:
•
Projects are often utilized as a means of
achieving an organization’s strategic plan.
•
Projects are typically authorized as a result of
one or more of the following strategic
considerations: market demand, strategic
opportunity or business need, customer
request, technological advance, or legal
requirements.
Source: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) Fourth Edition ©2008; Project Management Institute
Project Portfolios:
• A portfolio is a collection of projects or other
work that are grouped together to facilitate
effective management of that work.
• The components of the portfolio are
quantifiable; that is, they can be measured,
ranked, and prioritized.
• The projects in the portfolio need not be
interdependent or directly related.
Source: The Standard for Portfolio Management – Second Edition ©2008; Project Management Institute
Portfolio Management…
•
Is a discipline within organizational
governance that refers to the coordinated
management of portfolio components.
•
Includes the processes by which an
organization prioritizes, selects, and allocates
limited internal resources to best accomplish
organizational objectives.
Source: The Standard for Portfolio Management – Second Edition ©2008; Project Management Institute