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Management Methodologies Of Weekly Portfolio

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Question:

Discuss about the Weekly portfolio.

 

Answers:

Weekly Portfolio Learning Table

Topic and reading samples.

Your personal learning outcomes from this course.

Learnings from your experience.

Supporting documentation including your prior learnings.

Why responsibility and governance

It is important for the organisation to understand the role of government and its effect on the business.

Responsibility and governance is a self-regulatory mechanism that helps to monitor business and get the best possible outcome

Race P. (2010) A Practical Guide to Assessment, Learning and Teaching. Abingdon, England: Routledge.

 

Kerzner Chapter 1

 

 

 

“Success is like as three-legged stool. What does this mean?

Success is said to be the three-legged stool since one needs to get ready to learn first about being successful. Then the will to learn the required skills and knowledge necessary to become successful develops within them.

The individual is capable of being successful with the support of the expertise and motivation. One is unable to move to the other legs unless they achieved a certain amount of readiness.

 

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

What must the project manager provide in order to develop a solid project plan?

The project manager can develop a solid project plan by following the appropriate steps of project plan creation. It includes explaining the stakeholders the project plan and discussing the essential components, defining the roles and responsibilities and holding meetings.

The development of scope statement helps to achieve a proper project plan.

 

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

For projects that are done for external sources, the project manager is first viewed as starting out with a pot of gold and then as having to manage the project so that sufficient profits will be made for the stockholders. Why is this the case? Explain. 

The stakeholders are the biggest point of interest regarding any project and the profit of the stakeholders, is necessary and a great concern for the project managers.

The usage of the resources that are provided for a project can be restricted or minimized to enhance the profits of the stakeholders.

 

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

Should age have a bearing on how long it takes an executive to accept project management? 

No, the age should not bear the condition of how much time it takes for an executive to accept project management.

After the manager understands the plan well, being a realist and acquiring the goals and objective of the project makes the person more capable of taking up the project manager’s role, despite the age.

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

How should a project manager react when he finds inefficiency in the functional lines? Should executive management become involved? 

Executive level of interest and support is achieved with the involvement of project manager in a company.

If there is inefficiency in the functional lines, the project manager should involve the executive management to reduce the complications within the work.

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

Should project managers be permitted to establish prerequisites for top management regarding standard company procedures?

Yes, managers should be allowed to set up prerequisites for the top administration of the company about the standard procedures.

For better results, it helps to lead complex projects as the managers combine both the traditional and agile methods of project management that further provides flexibility

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

Does a project sponsor have the right to have an in-house representative removed from his company?

Every project needs to have a particular procedure and policy that needs to be followed by the entire team. The policies also concern the roles, responsibility and in-house representative authorities. These policies are further required to be agreed by the customer and the organization before the starting of the project

The role of a project sponsor is to resolve the issues of a project execution that cannot be solved anywhere else in the organization. Therefore, at certain circumstances, the plan sponsor does have the right to remove an in-house representative removed from his company for the conflict resolution and betterment of the project.

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

When does project management turn into over management? 

Project management becomes over management when priorities are placed by the manager on managing rather than achieving the goals of the project.

The over control occurs when the project manager puts more focus on personal management and not on entire project management.

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

What does a program manager bear final responsibility for?

The project manager is finally responsible for the successful initiation, planning, design, accomplishment, monitoring, supervisory and termination of a project.

He is the man in charge of the project and is therefore needed to take up all the responsibility as a leader. 

Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

 

Critical thinking and writing critically

Critical thinking and writing helps to understand ideas well and thus allow effective implementation of those ideas.

Critical thinking and writing becomes difficult at times. Critical thinking and writing involves checking the accuracy and logic.

Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.

Journals & Standards

 

 

 

·         IJPM

The International Journal of Project Management helps to achieve a wide and comprehensive range of information on project management.

This supports by providing a worldwide expertise in the needed techniques, practices and areas of research.

Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), pp.202-217.

·         PMJ

This provided the knowledge and helped to focus on core competencies, current practice and new developments

It includes publishing papers that are based on a number of relevant topics.

Timmins F. (2008) Making Sense of Portfolios: An Introduction to Portfolio use for Nursing Students. Glasgow, Scotland: McGraw-Hill Education.

·         SAI Global

This helps to provide commercial database.

Application of this can help to make Intelligent Risk conceivable by assisting organizations proactively cope risk to achieve business excellence, growth, sustainability.

Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.

 

 

Portfolio Reflection

The week’s portfolio gives a clear knowledge on the topic responsibility and governance. It is a part of project management and is extremely important as it manages the framework in which the decision regarding the project are considered. Each of the weekly portfolio creates an opportunity to understand the concept and thereby allow proper implementation of these concepts in the real life experiences. The learnings also helps in managing the choice and executions of a particular project and the various portfolios regarding the projects of an organization. The project planning can describe the various costs, time and quality that is involved. Also, the implementation procedure is determined for proper management during the projects.

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