Project Management

Any, even the smallest company in its business faces the challenge of implementation. This challenge is all the greater the more complex the structure and number of projects, due to the rapid development and growth of the organization and the need to adapt to rapid changes in the market.

The first difficulty encounter companies in the implementation process and project management is their definition and identification. If action may be considered and identified as a project must meet the following conditions: these activities must be linked in complex ways their results must be unique and strive to achieve a certain objective, in addition each of the activities must be scheduled in the beginning and in the end. Each project has its own life tick within which distinguishes four phases: initiation, planning, execution, completion. In the planning stages are defined the key elements of the project such as those involved in it and how to make decisions. After initiation and carefully planned actions are initiated actual design work, the result of which will be specific product support implementation of the objective. Each project, after completion of the work is evaluated in a phase of closure, which checks to make terms of the plan and schedule and evaluate.

High complexity of the organization, its rapid growth and expansion means that they have to perform the same time a number of projects, which often compete for limited resources of the organization. These resources are most effectively used companies should learn to manage not only individual projects, but their entire portfolios allowing continuous selection of the optimal portfolio of projects so that they yield maximum business value thus optimizing the use of scarce resources. The entire project portfolio management process is complex and involves the following activities:

  • creating an investment strategy portfolio,
  • evaluation and qualification projects at the stage of adoption of the portfolio,
  • determination and monitoring of portfolio performance,
  • depending on product and determining the time between projects,
  • temporal coordination of projects,
  • resource optimization,
  • to optimize benefits,
  • portfolio risk management,
  • information management and reporting.

An important element of project portfolio management that requires special attention is to take the project to the portfolio so well as its classification and evaluation. The portfolio of projects may include not only projects currently being implemented but also those that are in the planning phase, project proposals are pending approval for implementation and projects the time the word stop. Each project received the portfolio should be assessed for compliance with the business strategy what more should have pre-defined potential benefits and risks that are associated with its implementation as well as estimate the necessary resources for its implementation.

After a preliminary assessment of the project next stage is to mapped to the male part on prioritization and relocation, which taking into account the quantitative and qualitative criteria allows a ranking of projectto determine their joint interdependence.

The appropriate project management methodology is a very important element supporting the implementation of strategic goals and translates directly to improve operational efficiency and accelerates the growth and development of the organization. Bearing in mind the difficulties and lack of competence and resources on the side of many companies, more and more organizations in the implementation of project management models uses the services of specialized and experienced consultants such as Executive Networks. Cooperation in the implementation of strategic projects and original methods of work of specialized consulting firms guarantee to develop the best solution based on best market practices and best knowledge.