Portfolio Management Involves Managing Several Essay

The projects portfolio was handled by a head that had the people who concentrated fully in projects implementation, the Human Resource department on the other concentrated on rewards like benefits, compensation and pensions, resourcing, organizational development and design, employee relations and development and learning. However, over the years, many organizations have been continually undergoing alignment, which means integration of the decisions about the employees with the decisions about the results that the organization is striving to achieve.

Jeff Sacht, (2010) points out the fact that many organizations have moved to the consultative partnering roles rather than the autonomous departmental confines. This alignment has integrated almost all departments into the firms planning process, stressing on each departments engagements and activities that contribute to the wider mission and goal of the firm as well as make stronger the ties and relationships between the departments and the management, one of them being the projects portfolio management.

SECTION III

Many firms have realized that it is not only the financial and technological capital that give them a competitive edge but the ability to seamlessly coordinate them into meeting the goals and the strategic plan of the organization.

The inclusion of the project portfolio management into the strategic planning of the organization will benefit the department and the entire organization in that it will be easier to make decision with the consolidated information from the projects department to the top management.This will also reduce the time and the effort that will be required by the top management to draft out budgets for the projects as the concerned people will appropriately coordinate with the top management to do that.

This will also enable the smooth running of two or more related projects and any inter-related activities of the organization according to the timelines, goals, gates and targets of the organization. The inclusion of the project portfolio management in the organization strategic planning will also enable the alignment of program and project execution with strategic needs of company.

References

Jeff Sacht, (2010). Integrated Line Management and HR Planning. Retrieved August 30, 2011

from http://www.workinfo.com/free/downloads/107.htm

Plan View Inc., (2011). Enterprise Portfolio Management. Retrieved August 30, 2011

from http://www.planview.com/products/enterprise/enterprise-portfolio-management/

Siemens Product Lifecycle Management Software Inc., (2011). Portfolio, Program and Project

Management. Retrieved August 30, 2011 from http://www.plm.automation.siemens.com/en_sg/products/teamcenter/solutions_by_product/portfolio.shtml

Tom Adams, (2001). Portfolio Management for Strategic Growth. Retrieved August 30, 2011

from http://www.decisionframeworks.com/documents/Win00_PortfolioMgmt.pdf.....