Project Portfolio Management Assignment Answers

PART I. ESSAY QUESTIONS. (60 Marks)
Direction: Given below are questions for demonstration of knowledge and understanding, application, critical analysis and evaluation in both theoretical and practical applications. Provide appropriate and accurate answers for each requirement.

1. Project Portfolio Management is a management discipline that drives strategic execution and maximizes organizational value through the selection, optimization, and oversight of project investments which align to business goals and strategies. However despite expertise of project managers in this area, implementation will always have few issues. As MBA student and future project manager what issues do you think should be addressed if you want portfolio management implementation to be successful? (05 Marks)

2. Ideally with an effective project team, the project manager would simply implement the project plan and the project would be completed. The project manager would work with the team members to formulate the schedule, keep track of progress, and announce project deliverables on a specific timeline. Differentiate a project manager who is simplifying managing a project from a project manager who is leading a project. (5 marks for each discussed concept = 5+5=10 marks)

3. Project Closing is the combination of the following when applied to a project:
1. Assurance that all the work has been completed,
2. Assurance that all agreed upon project management processes have been executed
3. Formal recognition of the completion of a project where everyone agrees that it is completed. At first, the three points above may seem like “de-facto” or natural by-products of the last phase of a project.
Interpret any two above points and conclude what are the impacts to a successful project closure. (05+05= 10 Marks)

4. International project are conducted on internationally or across borders. Therefore international project management requires a specific set of skills to ensure success when managing international projects. Although there are major issues surrounding this. Major environmental factors can impact the project selection for international projects as well as its implementation are briefly highlighted. As a project manager. Compile any 5 environmental factors that can affect project implementation. Explain (5×2=10 Marks)

5. A system of shared norms, beliefs, values, and customs that bind people together, creating shared meaning and a unique identity is known as cross cultural considerations. Illustrate all the considerations of cross culture in project. (5×1=05 Marks)

6. Project oversight is the process of assuring the quality of project management and delivery. It is a governance role that is designed to reduce project risk and improve outcomes. Project oversight also highlighted different activities in the project and organization. Summarize all activities on the basis of organizational level and project level. (05+05 =10 Marks)

7. The phase gate review is a structured process to review, evaluate, and document outcomes in each project phase. It also provides management with information to in order to guide resource deployment toward strategic goals. Demonstrate all phases of Gateway methodology. (5×2=10 Marks)