Comment on Allison’s Post
The post by Allison excellent. It explains more about project goals and provides details on project portfolio management by giving several examples of how they both apply accordingly. Project goals are also referred to as triple constraints and include time, cost, and scope. The aspects have limitations but also have their degree of importance. For instance, a project manager can increase the cost expenditure to reduce the time needed to complete the project. The author explains that some project has an aspect beyond the three constraints and gives an example of Hubble space telescope (Williams, 2015). The author explains that the importance of each element depends on the project.
He also discusses project portfolio management as the translation of organizational objectives into programs, operations, and projects(Enoch, 2015). he further explains that management of portfolio involves several steps whereby organizations establish criteria for evaluating projects. Moreover, the steps include conducting inventory where a project gets categorized and outweighed (Enoch, 2015). Constraints in a project get applied after the portfolio where the contribution of each project objective gets realized. Additionally, he says that project managers should establish a clear vision and goals to manage the portfolio.
Reference
Enoch, C.N. (2015). Project Portfolio Management: A Model for Improved Decision Making. Business Expert Press.
Williams, T.C., (2015). Vision to Value: Executing Initiatives Successfully. Project Management World Journal (4), 11. 1-16.