Project Portfolio Management Growth and Operation: Portfolio Management Structure, Operations, Risk, and Growth

Project Portfolio Management Growth and Operation: Portfolio Management Structure, Operations, Risk, and Growth

Frank R. Parth
ISBN13: 9781522521518|ISBN10: 1522521518|EISBN13: 9781522521525
DOI: 10.4018/978-1-5225-2151-8.ch011
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MLA

Parth, Frank R. "Project Portfolio Management Growth and Operation: Portfolio Management Structure, Operations, Risk, and Growth." Project Portfolio Management Strategies for Effective Organizational Operations, edited by Luca Romano, IGI Global, 2017, pp. 264-287. https://doi.org/10.4018/978-1-5225-2151-8.ch011

APA

Parth, F. R. (2017). Project Portfolio Management Growth and Operation: Portfolio Management Structure, Operations, Risk, and Growth. In L. Romano (Ed.), Project Portfolio Management Strategies for Effective Organizational Operations (pp. 264-287). IGI Global. https://doi.org/10.4018/978-1-5225-2151-8.ch011

Chicago

Parth, Frank R. "Project Portfolio Management Growth and Operation: Portfolio Management Structure, Operations, Risk, and Growth." In Project Portfolio Management Strategies for Effective Organizational Operations, edited by Luca Romano, 264-287. Hershey, PA: IGI Global, 2017. https://doi.org/10.4018/978-1-5225-2151-8.ch011

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Abstract

Developing a portfolio management system that can effectively and efficiently select and prioritize the projects that best support strategic goals, this is only the start of portfolio management. To ensure that the enterprise portfolio management system (EPMS) can continue to operate and grow as the organizational environment changes and the strategic goals change, the EPMS must be implemented within the organizational structure that ensures it will remain relevant in the future. We discuss two architectures to the administrative housing of the EPMS, within a PMO or as a separate stand-alone organization. Both have their advantages and disadvantages. In either case, once the EPMS is implemented it must be controlled and managed as any other group within the larger organization. This requires a structure, roles and responsibilities, personnel and IT resources, an annual budget, and all the other administrative functions required to manage a department. As the maturity level of the EPMS evolves the growth must be managed to continue to support the organization.

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