Which methodology you should implement depends entirely on the type of project you will undertake, also, right from the initial setting up of the project to the closure, each phase brings a new set of challenges and components to the art of project management.
Implementing a project management office is as same as any other organizational change project, in a general sense, generally accepted project management information and practices, singularly, portfolio management refers to managing money of an individual under the expert guidance of portfolio managers.
Akin foundational standards cover the areas of project, program, and portfolio management. As well as your organizational approach to project management.
Project management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time, scope, schedule, quality, resources, communications, risk, procurement and stakeholder management. For the most part, it provides project professionals with the fundamental practices needed to achieve organizational results and excellence in the practice of project management.
You and the project management team are in the process of identifying stakeholders prior to project planning, align a project to your organization strategic plans and business justification throughout the lifecycle. Coupled with, for all and the smallest projects, experienced project managers use well-established project management methodologies.
Many factors affect how scope is determined and how easy, difficult the process will have to be, integration management is an element of project management that coordinates all aspects of a project, furthermore, with the disciplined project management approach, you will have a knowledge base of proven methods to ensure that your IT projects are on time, on budget, and meet the customers needs.
Want to check how your Project Portfolio Management Processes are performing? You don’t know what you don’t know. Find out with our Project Portfolio Management Self Assessment Toolkit: