Optional Readingsprogramme and portfolio management—Guidance on portfolio management;
Explain the relevance of systems thinking to the project, program and portfolio manager.
A system can be defined as the interdependent or the regularly interacting group of units that collectively form an integrated whole. Every system has its boundaries and is also influenced by its environment.
The readings have provided a deep insight about the System engineering. The readings indicate that System engineering is a broad concept and an interdisciplinary approach that enables the actual utilization of the successful system. A system is known to be successful if it satisfies the needs of stakeholders and customers.
System thinking on the other hand is a holistic approach used for analysing the interrelation among the system’s elements along with determining the way in which a system works.
The reading has also helped in differentiating and understanding the concepts along with the role of system thinking in of Project, Program and Portfolio management. System thinking is about determining the relationship among the elements of system. The project, program or a portfolio is the combination of number of elements or components that need to be analysed individually and in relation with other components. According to me system thinking is the essence of all Project, Program and Portfolio management as these involve number of sub systems or the elements among which a balance has to be maintained. (Kerzner, 2017).
The readings have further provided the useful information about system thinking with a help of an example of case. The Deepwater Horizon and Texas City disasters are one of the best examples that indicate the important of system thinking in a project. This particular case indicated that because of lack of system thinking in the offshore project whole system failed causing severe consequences in terms of loss of lives and property. The large organizations such as BP , a leading oil and gas company face issues while managing all the elements of the system collectively especially in terms of communication and maintaining the safety of the elements or units of a system. (sebokwiki, 2017).
As discussed above system thinking is abroad concept so I will focuses on gaining deep insights and knowledge about the application of system engineering for preventing the collapse of elements in a system. (sebokwiki, 2017)
Have you any insights you can add from other units you have studies or readings you’ve made?
References
Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling, Wiley.
Sebokwiki. (2017). Systems Engineering. Retrieved 2018, from Sebokwiki: https://www.sebokwiki.org/wiki/Introduction_to_Systems_Engineering
Sebokwiki. (2017). Systems Engineering Implementation Examples. Retrieved 2018, from sebokwiki: https://www.sebokwiki.org/wiki/Systems_Engineering_Implementation_Examples
Wellintegrity. (2011). Chief Counsel’s Report . Wellintegrity.
