Portfolio Management: Importance of PPPM Application Systems and Systems Engineering Concepts

This article discusses the importance of project, program, and portfolio management (PPPM) application systems and systems engineering concepts in managing projects effectively. It covers topics such as the relevance of PPPM to project cases, contemporary developments in PPPM, and different systems thinking tools and techniques to aid project managers in solving project problems. The article also highlights the importance of making informed decisions and using modern technologies to predict project outcomes.

Running head: PORTFOLIO MANAGEMENT
Portfolio Management
Name of the Student
Name of the University
Author Note

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Table of Contents
1.0 Introduction..............................................................................................................2
2.0 Course Learning Outcomes..................................................................................3
3.0 Discussion and conclusion.......................................................................................8
4.0 References..............................................................................................................10

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1.0 Introduction:
The process of any project acumination is one of the major step that is to be done. In
this paper there are several things that is related to be the Deep-water horizon is one of the
major incident that shook the world will be covered. The deep water is a dynamically
positioned and semisubmersible offshore drilling rig that is situated in the Gulf of Mexico.
The design was initially designed by the R&B falcon and later became a part of the Hyundai
heavy industries in the year of the 2001. This also comprises the routine of a team work and
their slant towards the client, creating a work plan which would bring the organization a
winning stage and making all the employees have a single thought which they can focus on
and work with a good team goal. The management of the drill changed several times, which
created some of the major problems in the operations and cost of maintaining the drill. The
explosion and the oil spill incident in the year of the 2010 is one of the major problem that
the drill faced (Chandra, 2017). The explosion and the following oil spill also created some
of the major ill effect to the nature. Thus it can be said that the incident of the deep water
horizon is one of the major problem that have been faced in the recent years. Portfolio
management is about decisive strengths, , weaknesses opportunities and threats in the choice
of debt and equity, domestic and international, growth and safety encountered in the attempt
to maximize return at a given appetite for risk.
There are various number of project management methodologies that can be used for
the process of managing a project work.
 Waterfall methodology:
 Agile methodology
 SDLC methodology

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2.0 Course Learning Outcomes
2.1. Describe how systems engineering concepts and methodologies can
help a project, program and portfolio managers organise a project.
The engineering concepts are the major concepts that can be used for the
process of enhancing a project. The engineering concepts helps in the process
of proper managing of the projects and thus enhancing the quality of a project
(Stettina & Hörz, 2015). Further the concepts of the engineering also helps in
the process of reducing risk in a project. Further it helps in better managing
the customers and properly implementing the technological concepts. The
engineering concepts helps in defining the roles and responsibilities of a
project manager. The engineering concept plays a reins defining the project
management plan.
2.2. Explain the importance of appropriate selection of project
management (PM) application systems in regards to meeting the internal and
external objectives of a project.
The concepts of the project application systems plays an important role in the
process of managing the internal as well as the external objectives of a project.
Selecting the correct project management helps in controlling every aspect of
a project. Some of the major application that helps in the process of proper
project management are Microsoft Project, Match ware Mind View and others
(Leung et al., 2016. This helps in the process of managing aspects like the
tasks and activities, build schedules and timelines, solve project issues,
manage risks and threats, assign budgets and control costs, establish

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collaboration and cooperation between project participants, assure and control
quality and others.
2.3. Describe how the use of project management (PM) application systems
can lead o effective PM knowledge management and decision making.
The use of the project management application systems can help in lot of the
processes that can help in the process of enhancing decision making processes.
One of the major aspect is the knowledge management.
 These helps in the process of tacking grey circumstances with a better
assurance.
 Further it helps in the process of enhancing teamwork. Reaching
economically altering situations and other aspects.
 Further it helps in in making proper decisions towards the customers of
the organisation and thus increasing the efficiency of the same (Kock,
Heising & Gemünden, 2015).
 Implementing a knowledge management solution effectively involves
cultural and structural alteration, operative tools, and a developing
process that addresses interactive, technical, managerial, and
methodical concerns.
2.4 Discuss contemporary developments in the use of project, program and
portfolio (PPPM)
The use of the contemporary developments can help in crating sorted things in
particular manner. This can help in studying the case in an easier manner and

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thus helps in the process of enhancing the process of project management.
Further this helps in the processes of enhancing a specific project. (Costantino,
Di Gravio & Nonino, 2015). The engineering concepts helps in the process of
proper managing of the projects and thus enhancing the quality of a project.
Further the concepts of the engineering also helps in the process of reducing
risk in a project.
2.5 Ientify how project, program and portfolio (PPPM) application systems
can assist project managers to monitor performance and manage changes
within a project.
The use of the PPPM application system can help in the enhancing and better
monitoring of a project. The application gives access to the project managers
to look into task in a well depth manner. With the use of the proper technology
the managers can look into various aspects of a project. Further, the project
managers can better analyse the use of the projects and find out the results.
2.5 Propose appropriate project, program and portfolio (PPPM) application systems
to support successful project, program and portfolio execution in different
industry domains.
A PPPM tool can be explained as a centralised management of differed kinds
of processes, technologies and methods that are used by the project managers.
The use of these systems helps in the process of proper analysis of the project
and to better shape a project. A proper portfolio management can help in the
process of enhancing a project using the various methods. These helps in the

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process of tacking grey circumstances with a better assurance. Further it helps
in the process of enhancing teamwork. It can be said as a collection of the sub
portfolios, and operations managed as a group to achieve strategic objectives.
Thus the use of these can help in the proper process of managing a project.
2.6. Compare and contrast the advantages and disadvantages of different
manual and electronic project, program and portfolio (PPPM) application
systems within each PPPM knowledge area over the life cycle of a project,
program or portfolio.
The use PPPM can have a number of advantages as well as disadvantages that
can effect a project. The advantages are involvement and inventory
management. These can help in the processes of proper risk management.
These helps in the process of enhancement of the project. Although there are
some of the major disadvantages of using the same. Some of the major
disadvantages are resource management, project scope and other options.
2.7. Assess the relevance of systems engineering to project cases.

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From the above figure it can be said that system engineering and portfolio
management are interlinked. The process of the portfolio management are
interlinked and helps in various results. These interlinking helps in various
processes like the integration management, risk management, quality
management. Process management and other such methods. IT can be said
that without the use system engineering the concept of the portfolio
management cannot be implemented properly.
2.9. Identify different systems thinking tools and techniques to aid project
managers solve project problems
There are various thinking techniques and tools that can help in the process to
solve the problems in a specific project:
 Functional Modelling.
 Function Means Analysis.
 Functional Failure Mode and Effects Analysis.

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 Decision Matrix.
 Context Diagram.
 Conceptual Model.
 Affinity Diagram.
System thinking techniques:
1. Interconnectedness.
2. Synthesis.
3. Feedback Loops. ...
4. Causality. ...
5. Systems Mapping.
2.10 .Describe how systems engineering concepts and methodologies can help
a project, program and portfolio managers organise a project.
The system engineering concepts and methodologies help in the proper
analysis of the project management. The concept of the system mapping helps in the
process of enhancing the numerous machines that are interlined in a network. Also the
tools helps in the proper analysis of the project tasks.These helps in the process of
tacking grey circumstances with a better assurance. Further it helps in the process of
enhancing teamwork. Also the engineering concept also helps in the proper process of
studying the project management concepts.

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3.0 Discussion and conclusion
Thus, it can be said that the PPPM or the project, program and portfolio (PPPM)
application systems is one of the most important system that helps the project managers in
controlling a project. The use of the PPPM makes it easier for the project managers to control
and execute a project (Brown & Goetzmann, 2018). The process of the PPPM helps in the
process better decision making aspects. With the use of the PPPM and modern technologies
the project manager can set up best decisions and thus enhancing the project. The concept of
the knowledge management is one of the major thing that is to be done.
This helps in the process of managing aspects like the tasks and activities, build lists
and timelines, accomplish risks and threats, solve project issues, assign budgets and control
costs, establish collaboration and cooperation between project participants, assure and control
quality and others.It helps a project manager to ensure that the decisions that are taken are
good for the project. These helps in the process of tacking grey circumstances with a better
assurance. Further it helps in the process of enhancing teamwork. Reaching economically
altering situations and other aspects (Hoesli & MacGregor, 2014). In the case of the deep-
water horizon the some of the major decisions were not made in a proper way and thus
resulted in the accident. This caused a major accident which hamper the entire project. Thus
it is very essential for project manager to take perfect decisions. Further with the use of the
technologies the project manager can properly predict the results of a project. With the use of
the predicted results it becomes easier for project manager to take better decisions.
Thus, concluding it must be said that with the use PPPM it becomes easier for the
project managers to control a project. This ensures several of advantages as well as
disadvantages of a project. The steps of the contorting a project starts by defining the process
of the group. The next phase is to process the information by the group. This includes the
specs of strategic plans, portfolio character, portfolio reports and others. The final is align all

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the results together in order to enhance the expected results. Thus the organisation must
ensure that all the steps of the project management are ensured in a proper way (Klingebiel &
Rammer, 2014). The process of the portfolio management can be explained as the process of
f making decisions about investment mix and policy, matching investments to
objectives, asset allocation for individuals and institutions, and balancing risk against
performance. The process of diversification can be explained as the only certainty in
investing is it is impossible to consistently predict the winners and losers.

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4.0 References
Brown, S. J., & Goetzmann, W. N. (2018). Stephen Ross’s Contribution to Ex Post
Conditioning and Survival Bias in Empirical Research. The Journal of Portfolio
Management, 44(6), 42-46.
Chandra, P. (2017). Investment analysis and portfolio management. McGraw-Hill Education.
Costantino, F., Di Gravio, G., & Nonino, F. (2015). Project selection in project portfolio
management: An artificial neural network model based on critical success
factors. International Journal of Project Management, 33(8), 1744-1754.
Hoesli, M., & MacGregor, B. D. (2014). Property investment: principles and practice of
portfolio management. Routledge.
Klingebiel, R., & Rammer, C. (2014). Resource allocation strategy for innovation portfolio
management. Strategic Management Journal, 35(2), 246-268.
Kock, A., Heising, W., & Gemünden, H. G. (2015). How ideation portfolio management
influences front‐end success. Journal of Product Innovation Management, 32(4), 539-
555.
Leung, S. L., Banks, M., & Saary-Littman, J. (2016). International Association of Credit
Portfolio Managers Principles and Practices: 2015: Expanding Role of Credit
Portfolio Management. Global Credit Review, 6, 11-20.
Stettina, C. J., & Hörz, J. (2015). Agile portfolio management: An empirical perspective on
the practice in use. International Journal of Project Management, 33(1), 140-152.