Project Portfolio Management: Benefits and Challenges
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Project Portfolio Management: Benefits and Challenges

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Questions and Answers

What is driving corporations to develop and implement Project Portfolio Management processes?

  • The desire to maintain a competitive edge
  • The pressure to complete projects on time and within budget (correct)
  • The need to establish a traditional functional structure
  • The need to create new products and services

    • What makes project portfolio management an organization-wide challenge?

  • The requirement for executive-level summaries of all projects
  • The presence of hundreds or even thousands of projects underway at one time (correct)
  • The need for clear and often urgent goals
  • The desire to increase shareholder equity

    • What type of structure are corporations moving away from when implementing PPM processes?

  • Hierarchical structure
  • Traditional functional structure (correct)
  • Shared resource structure
  • Multi-project organization

    • What does PPM provide comprehensive information on within an organization?

    <p>Detailed plans by project</p> Signup and view all the answers

    Why do individuals across all levels of the company need comprehensive information provided by PPM?

    <p>To make timely informed decisions that support their corporate mission</p> Signup and view all the answers

    What is the primary responsibility of network administrators in relation to P6 applications?

    <p>Configuring the organization's network environment and managing user access to data</p> Signup and view all the answers

    What is the main role of database administrators (DBAs) in relation to Primavera P6?

    <p>Implementing and maintaining database security, including creating and maintaining users, roles, and privileges for the database</p> Signup and view all the answers

    What is the primary responsibility of operations executives in relation to Primavera P6?

    <p>Responsible for strategic planning and ongoing performance analysis</p> Signup and view all the answers

    What is the main responsibility of project controls coordinators related to Primavera P6?

    <p>Prioritizing projects, analyzing profit/loss, and making funding decisions about projects</p> Signup and view all the answers

    What is a primary function of project controls coordinators?

    <p>Managing user access to data and developing a comprehensive security policy</p> Signup and view all the answers

    Study Notes

    Drivers of Project Portfolio Management (PPM) Adoption

    • Corporations are driven to develop and implement PPM processes due to various factors.

    Challenges of Implementing PPM

    • Implementing PPM is an organization-wide challenge, requiring a significant transformation.

    Shift Away from Traditional Structures

    • Corporations are moving away from functional silos and towards a more integrated approach when implementing PPM processes.

    Comprehensive Information Provided by PPM

    • PPM provides comprehensive information on project and resource allocation, prioritization, and optimization within an organization.

    Need for Comprehensive Information

    • Individuals across all levels of the company need comprehensive information provided by PPM to make informed decisions.

    Roles and Responsibilities

    Network Administrators

    • The primary responsibility of network administrators in relation to P6 applications is to ensure that the system is properly configured and running smoothly.

    Database Administrators (DBAs)

    • The main role of database administrators (DBAs) in relation to Primavera P6 is to manage and maintain the database, ensuring its integrity and performance.

    Operations Executives

    • The primary responsibility of operations executives in relation to Primavera P6 is to oversee the overall system strategy and direction.

    Project Controls Coordinators

    • The main responsibility of project controls coordinators related to Primavera P6 is to ensure that project controls processes are properly implemented and maintained.
    • A primary function of project controls coordinators is to coordinate and manage project controls activities.

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    Description

    Explore the reasons why large businesses use project portfolio management (PPM) to manage their numerous projects and improve organizational efficiency. Understand the benefits and challenges of implementing PPM processes to ensure timely completion of projects within budget constraints.

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