Numeric Project Portfolio Management (PPM)

Project Selection Process

• The first stage in the project selection process is identification of opportunities.

Models in Project Selection

• Models make it easier to select projects by simplifying complex decision-making processes.
• A key characteristic of a model in project selection is its ability to handle both quantitative and qualitative data.
• One essential non-numeric criterion in choosing a model for project selection is its ease of use.
• A model for project selection should be capable of accommodating multiple criteria and uncertainty.

Organizational Strategy

• The primary role of strategy in an organization is to provide direction and guidance.
• Project management maturity refers to an organization's ability to deliver projects efficiently and effectively.

Alignment with Strategic Goals

• Aligning projects with strategic goals is crucial for an organization's success.
• Continuously scanning the political-legal, economic, socio-cultural, technological, and natural aspects helps an organization identify opportunities and threats.

Project Management Maturity

• An organization determines the appropriate level of project management maturity by assessing its current capabilities and identifying areas for improvement.

Project Portfolio Management (PPM)

• The primary focus of project portfolio management is to select the right projects that align with organizational objectives.
• The first step in project selection is to identify opportunities.
• In the execution phase of PPM, one of the tasks carried out within each business unit is to allocate resources to selected projects.
• One of the key responsibilities of corporate executives during the preparation phase of PPM is to define the organization's objectives and priorities.
• One of the essential assumptions set up for assessment during PPM is that the organization's resources are limited.
• The categorization phase in PPM involves naming, categorizing, and assembling projects into groups within each business unit.
• Aligning programs and projects with organizational objectives is crucial for achieving strategic goals.
• The PERFORMANCE MANAGEMENT phase in the PPM timeline involves tracking and reviewing project performance.

Business Project Proposal

• The Executive Summary of a business project proposal includes an overview of the project, its objectives, and expected outcomes.
• The Technical Approach section outlines the methodology of resolving the technical problem.
• Financial information is not included in the executive summary of a business project proposal.
• Under 'Change Management', a plan for managing and implementing changes is required to be provided.
• The 'Technical Approach' outline section of a business project proposal should provide a detailed description of the methodology and approach to be used.