Portfolio Management Implementation Report Assignment PDF

Portfolio Management
Implementation Report

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Situational Context......................................................................................................................3
Portfolio evaluation.....................................................................................................................4
Portfolio management ................................................................................................................7
Maturity Levels...........................................................................................................................8
Corporate Culture........................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Portfolio management is an art of making effective decision in order to minimize the risk
which is involved at the time of investing, which eventually helps in making profit. It aims at
selecting the projects which are best to meet the organizational goals and objectives of the
company.
Lend lease group is a multinational infrastructure, property, construction and real estate
company. It was founded in the year 1958 and is headquartered in Barangaroo, Sydney,
Australia.
This report will highlight the strategic value and importance of project portfolio
management and project management. It also include project management life cycle, change
management, project office, resource management and organizational change. It also
demonstrate project portfolio management techniques, tools and processes. Furthermore, this
report critically evaluate implementation of project portfolio management in range of
organizations.
MAIN BODY
Situational Context
 Is the organisation investing in the right projects?
Lend lease group focus on investing in real estate, property, construction and
infrastructure. They aim to invest in projects on various platforms like Europe, Australia and
Asia (ABOUT INVESTMENT MANAGEMENT, 2019).
For example: The new projects in which they invest are Melbourne Metro, Caulified to
Dandenong Level Crossing Removal Project (Victoria), Northern Road Upgrade(New South
Wales), Western Sydney Airport (New South Wales), Kingsford Smith Drive (Queensland).
 Is the organisation optimising its capacity?
Lend lease group is effectively optimizing the capacity, as they are investing in various
projects which leads to higher operational efficiency and profitability of the business. This group
focus on its guiding principles which mainly includes health and safety, consumer oriented,
sustainability, diversity and inclusion (Abbasi, & Jaafari (2018)). They focus on responsible

property investment by effectively and optimally utilizing the resources which helps in attaining
organizational goals and objectives (Abubakar & et.al., (2018)).
 How well is the organisation executing?
Lend lease group focus on effectively executing the plan which helps in attaining higher
organizational goals and objective for long term sustainable growth and development of the
business. Lend lease group focus on considering environmental, governance and social factors
which is an integral part for project portfolio management (Bredillet, Tywoniak, & Tootoonchy
(2018)).
 Can the organisation absorb all the changes?
Lend lease group can effectively absorb all the changes, so that organization goals and
objectives can be reached which leads to higher operational efficiency, performance and
productivity.
 Is the organisation realising the promised benefits?
Lend lease group focus is realizing the promised benefits by continually developing
towards growth, with increasing productivity and implementing advanced technology which
leads to higher operational efficiency and enhancing capability to build critical infrastructure
projects (Alves., & Gonçalves, (2018)).
Portfolio evaluation Assessment of methods used by organization to evaluate overall project portfolio.
Waterfall project management model: It is an effective linear process to carry out the project in
an effective manner which helps in accomplishing the project in a systematic manner.
1. Requirement and gathering documentation: it is comprehensive process which helps in
effectively gathering information and implementing strategies to carry out the work
effectively. It helps in clearly defining the requirements to carry out the project
effectively.
2. System design: It helps in designing the structure, create diagrams, choose technology
and plan software architecture (Bredillet, Tywoniak, & Tootoonchy (2018)).

3. Establishing and implementing strategy: Lend lease group focus on managing multiple
projects by effectively implementing various strategic tools and technologies which leads
to higher operational efficiency and performance for the company.
4. Analysing: It aims at creating inventory and establish effective strategy by systematically
analysing the project and evaluate risk attached in the project portfolio.
5. Ensuring alignment: It helps in effectively identifying the resources used to carry out a
project, so that the end result helps in mitigating the goals and objectives of the company.
It also helps in evaluating financial risk, environmental risk and technological risk to take
necessary action accordingly to fill the gaps and reach the set target (Ghasemi & et.al.
(2018)).
6. Management: It also focus on effectively implementing the plan and take necessary
viewpoints of management in process so that effective decision can be taken accordingly
to gain higher insights and knowledge to gain higher operational efficiency (Optimize
your portfolio: A beginner's guide to project portfolio management, 2018).
7. Test and adapt: This helps in adapting to the changes and effectively test the portfolio
management to accomplish the set project on time with higher efficiency, performance
and productivity. In case of any deviation, necessary action will be taken to accomplish
task effectively.
8. Deployment: At this stage the project is accomplished and helps in effectively delivering
the project to the client (Linares & et.al. (2017, October)).
9. Maintenance: lastly, in case of any issue the management team will do necessary
maintenance to carry out the work effectively to deliver satisfactory product to client .
 Any challenges that the organisation might face in using the current method to
operate in a global environment.
The major challenge faced by Lend lease group to operate in a global environment using
waterfall model are:
1. The management of the organization follow the plan blindly in a sequential process
(Hansen & Svejvig, (2018).

2. Change in the process becomes costly and high amount of risk and uncertainty is
associated while accomplishing the project.
3. It is difficult to critically evaluate the progress within stages.
4. It is complex and rigid process which makes it difficult for the project management to
make any changes (The Pros and Cons of Waterfall Methodology, 2017).
5. Without the completion of the first phase, the team cannot move forward to the next
phase, which leads to delay in completion of the project.
 Benefits management life cycle incorporated in the evaluation process.
Benefits management life cycle focus on identifying, planning, evaluating, measuring and
analysing the benefits associated with the project from the initial stage of the programme. It
helps in effectively analysing the resources and technology which leads to higher operational
efficiency, performance and productivity (Lima & et.al., (2016, July)).
1. Quantify: This framework helps in analysing the framework and set effective techniques
and methods in order to gain quantifying benefits. Proper and effective guidance is given
in the area it is difficult to measure in quantifiable terms (Benefits management plan,
2019).
2. Value: This plan helps in effectively setting the rules that will help in effectively
evaluating the plans in order to gain insight on allocating the success of the project and
how it adds value to the overall growth and development of the business.
3. Plan benefit realization: This helps in effectively analysing and evaluating the benefits
realized from the project. The work will be effectively coordinated and give best quality
output which helps in sustainable growth and development of the business (Linares &
et.al. (2017, October)).
4. Realize benefit: This process helps in analysing the transition, so that work assigned can
be performed in a coordinated manner. It also helps in analysing the current state and
coordinate the delivery of the end result with the help of change management. It also
helps in ensuring change and further evaluate whether benefits has been achieved or not .

Change management approach helps in effectively defining the organizational change
and focus on converting output into benefits (Lyapina & et.al., (2017)). It also ensure that
organization focus on implementing change and embed that into an organization practice for
higher sustainable growth and development of the business.
 Assessment of how benefits management be helpful in successfully meeting the goals
of the organisation’s project.
Benefits management helps in effectively evaluating the resources, so that project can be
accomplished on time in a systematic manner (Ostakhov, Artykulna & Morozov, (2018,
February)). It also helps in effectively evaluating the strategies and adapting change by
implementing innovative technology which leads to higher sustainable growth and development
of the business. Adapting to change and managing resources helps Lend lease group to meet the
organizational goals and objectives.
Portfolio management
 Analysing how project portfolio management (PPM) helps in aligning with the
strategic objective.
Project portfolio management is a strategic alignment which helps in effectively
identifying the purpose, objectives, fit and benefits to accomplish the organizational goals, which
eventually leads to higher sustainable growth and development of the business.
1. PPM helps in fosters clarity and big picture thinking by effectively linking each project
and task with organisational goals (Meyer (2018)).
2. PPM helps in improved resource management and capacity planning.
3. It also helps in high productivity and increased agility.
4. It helps in identifying the best tools, technologies, techniques and resources to achieve
organizational goals and objectives of the company.
 Project Management Office been introduced into the organisation.
Lend lease group has Project management office (PMO) which focus on effectively
maintaining standards and increase the success rate of the project which eventfully leads to
higher sustainable growth and development of the business. PMO focus on striving standard into

the organization for more efficient and successful handling of the project. PMO focus on
providing right tool and resources for project portfolio and resource management (Ostakhov,
Artykulna & Morozov, (2018, February)).
 Quantitative and qualitative tools and techniques in the organisation.
1. Qualitative project management: Tools and techniques like key performance
indicators, portfolio balancing, programming, matrices helps in effectively managing the
portfolio which eventually helps in attaining goals and objectives of the company.
2. Quantitative project management: It helps in evaluating the project management using
quantitative tools like data mining, statistical validation, benchmarking, performance
analysis, transaction cost models, portfolio construction and optimization, leveraging and
risk management, scorecards, numeric models, scoring models.
Maturity Levels
 Maturity level of organization in terms of its approach to project portfolio
management.
There are five stages for maturity in portfolio management: first is stand up; second is
informal; third is developing; fourth is managed and fifth is optimized (Safder, & Yousaf,
(2018)).
Lend lease group company is functioning at developing stage of maturity. Project
portfolio management actively participate in order to gain insights and knowledge on a particular
project (Evaluating and Building Portfolio Management Maturity, 2016). It helps in developing
and reviewing every key investment project for higher sustainable growth and development of
the business. Project portfolio management focus on strategic planning and decision making for
further long term future growth and development of the business.
 The key best practices which can be adopted to improve the maturity level, using
appropriate model.
PRINCE 2 method is one of the most effective project management approach which
helps in managing and controlling different stages of project to optimally reach organizational
goals and objectives. It helps in clearly defining the roles and responsibilities. This model goes
through 7 phase which includes start- up, directing, initiation, controlling, managing product

delivery, managing stage boundaries and closing (Pasian (2016)). Implementation of PRINCE 2
model at Lend lease group company will help in improving the maturity level stage and move to
optimized for higher sustainable growth of the business.
 Implementation of change and assistance required from organization.
To effectively implement change in the organization, portfolio management focus on
setting strategic strategy which is crucial for the development of the project portfolio
management (9 Steps for Implementing Successful Project Portfolio Management, 2018). Once
the vision and goal is set project portfolio management build the implementation team and
collect project data. project portfolio management also focus on evaluating the project and
creating portfolio. Lastly, project portfolio management test and refine and develop roll out
program to effectively learn and adapt to such change. Assistance of Senior executives,
employees, stakeholders, portfolio management officer work together to implement change and
effectively adapt to such change for achieving goals and objectives of the company (Safder, &
Yousaf, (2018)).
Corporate Culture
 Assess the corporate culture of the organisation.
Lend lease group company have an inclusive workforce culture which focuses on
implementing and delivering the best quality service to the clients by effectively evaluating and
understanding the customer needs (Takami, Sheikh, & Sana, (2018)). They focus on respect,
productive employees, encouraging individuals, supportive team, positive work environment
which leads to higher operational efficiency and productivity. They put people at the heart of
transformation and value their insights for higher growth and profitability. Lend lease group
offers talent and career progression with diverse workplace and higher growth opportunities.
They have strong network and dynamic workforce.
 Assessment of any change management initiative in terms of project portfolio
management.
Change management approach helps in effectively defining the organizational change
and focus on converting output into benefits (Shalbafan & et.al (2018)). Change management
focus on implementing change and embed that into an organization practice which helps Lend

lease group company in achieving organizational goals which leads to higher sustainable growth
and development of the business. It also helps in adapting to change and helps employees to
control and adapt to change to attain required business outcomes. Incorporation of effective tools
and techniques into the organization helps in effectively leading the culture of the workplace.
 Aspects of the corporate culture to support project portfolio management.
To effectively support and evaluate project portfolio management the employees must be
productive and innovative to share new thoughts and insights which helps in developing project
which leads to attainment of organizational goals and objectives. Strong organizational structure
and leadership actions helps in framing vision, mission and strategy for higher sustainable
growth of the company. Human resource, leadership actions and performance management helps
in sustainable growth of the business (Stettina & et.al (2018, June)).
 Assessment of any challenges involved in getting project portfolio management.
There are many challenges associated with project portfolio management which leads to
lower operational efficiency and productivity for Lend lease group company (Takami, Sheikh,
& Sana, (2018)). There are many barriers and challenges which are faced by the organization
which mostly includes:
1. Internal culture and politics.
2. Project management maturity.
3. Poorly defined goals.
4. Unrealistic deadlines.
5. Insufficient team skills.
6. Ineffective communication and coordination between employer and employee.
7. Lack of effective skills and training development programmes.
8. Ineffective technological support and project funding.
9. Unavailability of resources.
10. Too many project deadlines and misallocation of resources.
11. Poorly managed risk (What Makes A Project Portfolio Difficult To Manage?, 2019).

CONCLUSION
From the above study it has been summarized that, project portfolio management helps in
effectively optimizing the capacity, as they are investing in various projects which leads to
higher operational efficiency and profitability of the business. It focus on effective and strategic
decision making in order to minimize the risk which leads to attainment of organizational goals
and objectives. It further concludes that, implementation of project portfolio management takes
into consideration situational context, portfolio evaluation, portfolio management, maturity
levels and corporate culture.
This study further includes, strategic value of portfolio management, waterfall life cycle
model, prince 2 model, maturity level, portfolio project office, change management,
organizational change and resource management. This report also concludes, tools and
techniques used to achieve goals and objectives for sustainable growth and development of
business. This report also evaluate the maturity levels and the challenges involved in project
portfolio management for sustainable growth and embrace the organization for higher
operational efficiency, performance and productivity of the business.

REFERENCES
Books and journals (APA)
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Meyer, M. M. (2018). Portfolio management software. In The Handbook of Project Portfolio
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Ostakhov, V., Artykulna, N., & Morozov, V. (2018, February). Analysis of models for IT
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Takami, M. A., Sheikh, R., & Sana, S. S. (2018). A Hesitant Fuzzy Set Theory Based Approach
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