Practices Of Project, Program, And Portfolio Management

Consolidated Portfolio

Project, Program, and Portfolio management can be described as a set of practices that enables the individual to accomplish the daily operational activities in the real world and the activities related to the accomplishment of the project. It can be helpful in providing a path that can enable the project manager to follow the project in sequential manner and allowing the accomplishment of the project in successful manner. Application of the project management is not limited to the practices in the project only, rather, it also allows the individual to follow the instructions and accomplish the objectives and scope of the project. Project management methodologies and system are available those are capable of allowing the individuals to accomplish the crucial and concerning practices related to the accomplishment of the project.

The proposed consolidated portfolio reflects the learnings and knowledge gained in the last ten weeks during the course. I had analyzed that no matter what management style the individual is following, the considerable fact is that the project needs to be managed in efficient manner, under proper managerial and leadership and it should be capable of delivering the output that can fulfill the needs and requirements of the individuals. Every week it was new topic and extension of the previous learning that helped in accomplishing the personality that can be utilized for the delivery of the program management, project management, and portfolio management. I also identified that these management technique are not only for the professional purpose however; it can also be utilized in the real life and most of the scenarios or activities can be considered as a project. The best practices of these management style were gained through the course and it helped in developing a personality best suited for the development and execution of the project that can manage all the necessary objectives of the project.

Summary: the first week was all abonut the relevance of the system thinking to the project, program, and portfolio management and how managers can utilize them for the successful delivery of the project. We were in traduced with the real world scenario and for this situation numerous individuals from the group were kicked the bucket and harmed with this mishap. The blast that took life of such a significant number of individuals could have been forestalled. They took the difficulties yet neglected to defeat the test. In this manner, one might say that the Information System (IS) ought to be produced in such a route along these lines, to the point that it can stay away from every single startling test. System Thinking has numerous disservices likewise those are should have been considered by the architects previously the advancement of the framework.

First Week

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: second week was all about identifying the tools and techniques associated with the system thinking those could be utilized for the PPPM and assurance that the changes and manipulations being introduced to the project is capable of delivering the necessary objectives and goals of the project. The idea of project management and system thinking dependably covers each other. It is very astonishing that, the project supervisors don’t appear to use the basic system thinking instruments and strategies however these apparatuses and methods give interesting advantages in the field of cultivating and critical thinking. The individuals from BP are on the whole prepared to continue alongside the new gathering of apparatuses instantly. For the seaward battling no legitimate instruments are gathered by the architects. Keeping in mind the end goal to determine these issues the engineers ought to have chosen all fundamental present day management tools and techniques as favorable for the situation. For controlling the system precise analytic data apparatuses are should have been considered by the project administrators and the system engineers.

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: while moving to the third week I look back and get to know that these are all nothing but the parts of the previous management techniques those could be utilized for the effective and efficient management of any type of the project. “Survey pertinence of system designing to extend cases”. The learning of this current week causes per users to pick up thought regarding the importance of system designing with the project cases. It has been discovered that for the fruitful usage of the system figuring thoughts can lead designers towards portfolio management. The assembling segment and the chiefs essentially coordinate the organization towards the achievement. The designing incorporation is especially useful for both specialized and non-specialized tasks. For upgrading rehashed accomplishment of the business association it is especially important to go with every one of the procedures likewise.

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: in the third week, we were introduced with the system engineering concepts and methodologies those could contribute in the growth and development of the project and managing its objectives and goals. This session was very effective for the identification o the systems those are available and how the application can be effectively and efficiently managed. From the address slides of week 4 it has been discovered that for the fruitful execution of any project it is important for the task go to consider the idea of system building and approaches for sorting out the venture. Legitimate system designing technique can lead a project supervisor rather helps a project director. Keeping in mind the end goal to distinguish the system designing openings and the successful route through which the issues of system situated issues can be settled are picked up from the this week learning. Prior to the last execution of the system the engineers are required to check or test the whole system legitimately. Considering the end goal to reestablish the natural district it is vital for the designers to think about the idea of upgrade.

Second Week

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: Fifth week, we were introduced with the topics related to the importance of appropriate selection of project management (PM) application systems in regards to meeting the internal and external objectives of a project. With a specific end goal to deal with any task appropriately it is particularly essential for the system engineers and the project administrators to choose the most reasonable application framework. It is essential for the system designer to apply the remote detecting, symptomatic and instrumentation applications at the correct place. In addition, one might say that, wellbeing applications are required to be connected by the project chiefs for the effectively shielding nature from outside danger. Use of appropriate possibility arranging will help the project directors to increase long haul achievement as needs be.

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: Sixth week was helpful in getting the information related to the knowledge management and the decision-making and how these facts can be implemented in an efficient and effective manner that can ultimately result in the efficient and effective deployment of the project. It has been discovered that with the fruitful execution of PM application system in PM learning management  it is particularly important to apply keeping in mind the end goal to increase better execution in light of the authoritative structure. The principle point of task directors and the project engineers are to achieve the project targets inside the assessed time allotment and spending plan. The activities are likewise required to be associated with the project intend to fulfill the task goals. The project efficiency will naturally increment and the commitment of the task colleagues will consequently upgrade with appropriate utilization of the PM applications.

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: In the week 7 we were introduced with the facts and aspects relate to the different management styles and emphasize on the selection of the better one. I get to know about the differences between the project, program, and portfolio management and that helped me in distinguishing all these three aspects of the project management. The week 7 address of the course manages “Look into the favorable circumstances and weaknesses of different manual and electronic PM application frameworks with PM information over the existence cycle of the venture”. This is totally in light of the decision of the project proprietors. A portion of the task proprietors lean toward the manual record keeping system where they can store, erase and embed new data according to their decision.

Third Week

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: it was another typical sector for me that became easy as I move forward with the class and I was understanding the beneficial aspects and advantageous factors those could be gained through the PPPM for the management of any kind of the project. “Distinguish how PM application frameworks can help extend directors to screen execution and oversee changes inside the undertaking”. It has been discovered that, project management  application system dependably helps the project supervisors for observing and deals with the task changes inside the project amid its improvement and usage stage. Diverse system thinking instrument is alluded to as a workmanship that comprehends and depict the powers and all interior relationship to take care of business conduct of the system successfully.

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.           

Summary: the ninth week was the second last section of the course and thus, I had revised the entire syllabus before moving to this session and identified that the industries in different domains need different type of the managerial aspects for the management of the operational activities in manner to assure that the implementation of the changes could bring positive outcome of the project. “Talk about and propose of legitimate project management application framework”. From the present status and foundation of the task and their necessities it has been discovered that without the assistance of the best possible project management instrument an project can’t be executed effectively. It is the part of the project directors to apply the important project management programming to lead the task towards huge achievement. As of now, it is relatively difficult to management any extend without the assistance of appropriate application programming.

Evidence: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

Summary: The Week 10 and week 11 project management address slides characterize the “Clarify the significance of frameworks thinking to the task, program and portfolio chief”. In the wake of investigating the subtle elements of the task desire and targets it has been discovered that with fruitful system figuring the project designers can offer portfolio, program to the purchasers. The system thinking can limit the rate of blunders of any venture. The store network cost can be limited in like manner with the best possible utilization of system considering. It offers better critical thinking capacity and compelling answer for the buyers and the task proprietors. It additionally offers the project chiefs a capacity to limit the project unpredictability.

Evidence for week 10: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

The evidence of week 11: The evidences are collected from the “Full Final Report from the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling” document.

It was identified that the PPPM can be beneficial in meeting the strategic objectives and goals of the project and assuring that the project being delivered is capable of providing the necessary outcomes. It can be concluded that I have achieved many theoretical knowledge and practical aspects of the PPPM in theory. And I am looking forward to implement it I my personal and professional life and deliver the necessary objectives ad goals for the project.

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