Analysis and Synthesis of Prior Research

In: Business and Management

Submitted By gerald6126
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Analysis and Synthesis of Prior Research Analysis and Synthesis of Prior Research
The companies that efficiently solve their projects issues and portfolio concerns will differentiate themselves from their competition. The projects that companies work to complete with the many different project methodologies demonstrate where the business is now, and the portfolio of projects of the organization demonstrate where the organization is headed. To effectively manage the tremendous number of projects that leaders face today in their organizations, they look to methods and processes that aid them in effectively managing a group of projects. The method used to help in this endeavor is Portfolio Project Management (PPM).
Portfolio Management Methodologies
According to Project Management Institute’s 2012 Pulse of the Profession In-Depth Report there is a clear trend based on their annual global study of more than 1000 project, program and portfolio managers. Over half of the companies reported an increase in their use of portfolio management as a means of effectively dealing with organizational strategy based on portfolio management (PMI, 2012). Moreover, the results of the study determined that 62% of projects that were concluded based on the effective use of portfolio management methodologies met or exceeded their expected return on investment (PMI, 2012). Notwithstanding the quantifiable benefits of portfolio management, the study uncovered that relatively few businesses created an avenue to perfect the portfolio management methodologies within their company.
Strategic Level
To effectively establish portfolio management, as a methodology within an organization requires a strategy that places portfolio management at a strategic level within the company, a corporate culture that is portfolio-minded, and the implementation of the appropriate tools and practices must…...

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