Use Organization Strategy apt Drive Project Portfo

iness or organizational strategy is planned to drive all determinations within an organization. It provides a intention, a rallying point, and a litmus test for determinations by all levels. Hence, it only stands to reason that strategy would drive the projects, programs, and the project portfolio management process. Good projects map well to organizational goals. In truth, the best organizations make sure their initiatives are in alignment with their strategic plan. Whether for project initiation or for simply analytical how the value of a project fits among the organization, becoming versed with the strategic plan is invaluable.
Background
Here is some background on strategic planning, project management,[link widoczny dla zalogowanych], program management, and project portfolio management.
There are many approaches to strategic planning. One approximate is to think through these 5 points for the organization:
1. Vision - where the organization absences to be in the future
2. Mission - intention,[link widoczny dla zalogowanych], or why the organization exists
3. Values - organization's mores and priorities
4. Goals - results that the organization lusts in carrying out its mission 5. Tactics and Initiatives - actionable behaviors and initiatives supporting entire above
It is major for project managers to know where their project fits into the organizational strategy. What organizational goals does it patronize? Does it support the organization's vision and mission? How are the organization's amounts creature expressed in the execution of the project?
It is equally important for a program manager, with responsibility for one initiative, or program,[link widoczny dla zalogowanych], which involves several projects, to understand how the program supports the organizational strategy. The program manager needs to make sure the individual projects aline to organization strategy, and that the project set as a entire that make up the program support that vision.
Project Portfolio Management is concerned with choosing the projects that best support the organization's vision and strategy. PPM goes with a catalogue of applicant projects and assembles critical file on each, such as cost, resources, purpose or objective, anticipated return, hazards, and extra. With a prim strategy in hand, assuming there is an, the PPM process involves charting the products to the manifold elements of the strategy. One of the keys with such file is to be pragmatic by retarding assumptions versus tangible on projects and programs in the portfolio over time. Establishing the suitable parameters for this data is important to accomplishing the desired results.
What the PMI Says About Portfolio Management
"The Standard for Portfolio Management" published along the Project Management Institute (PMI) states that in order to be successful, the portfolio management crew must:
1. Understand the organization's strategic plan.
2. Establish determining factors for administrate the portfolio based on the strategic plan.
3. Consider all of the organization's projects, programs, and additional portfolio components.
4. Follow agreed-upon processes.
The standard apparently articulates the importance of the relationship among strategy and project portfolio management!
Working Together By Thinking "Outside the Box"
Project managers amplify plans to perform the projects in the portfolio, and then lead the effort apt implement the blueprint. Likewise, agenda managers develop plans as their programs, yet they do it because a higher level thing namely contains many projects. In every case, the Project Manager alternatively Program Manager "owns" his/her project or program. It surely follows that portfolio managers "own" their respective project portfolios. The factor namely MUST knot the portfolio managers, program managers, and project managers together namely strategy, which constantly requires some "out of the carton" considering on the portion of the respective managers. Strategy needs to be the general thread through the project portfolio, programs, and

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