Project Portfolio Management in Watpac: Evaluation and Recommendations

WATPAC Project Portfolio Management

PPM-Watpac 1
Executive Summary
In this report, the project management system has been discussed and how it is managed
by an organization. Evaluation of portfolio management is done of Watpac organization and
how they had implemented the PPM for improving performance and development. Various
portfolio tools and techniques helped in projects for improving the organization's performance
and help in creating efficiency and manage to deliver the projects on time. Analysis of
opportunities and threats helped the company in making better planning decisions; the company
can forecast incoming demand for future requirements. For achieving success, Watpac has
implemented the PPM process at various levels. They had made the planning for implementing
the PPM effectively and various key elements are discussed for the successful portfolio planning.
They had also faced the various challenges during the PPM process but they had overcome with
the situation. The report also concluded that Watpac can use the Meisterplan as the most
important tool for managing PPM.

PPM-Watpac 2
Introduction
Project portfolio management is the process that is used by the managers and the
organization to analyze and deliver the data which is help business to forecast the requirement of
new projects in order to organizational goals and objectives. Many organizations are looking
forward to implement it effectively and improve the process and reduce the risk of project
failures. And according to the recent report of PMI states that many organizations with the better
project portfolio management around 35 percent project successfully completed without wasting
time and money (Pennypacker, 2009).
Watpac is the leading construction company founded in 1983. The organization employs
800 employees across many countries. In December 2018 the company wholly owned by BESIX
and listed in the Australian security exchange. The project portfolio management team analyze
the current running project and predict problems, review progress towards goals adjust budget
and direct all the stakeholders of the company. This allows Watpac to see the big picture of
current and past projects and give Path for the future projects (Watpac, 2019).
The aim of this report is to evaluate the portfolio management in the Watpac and how
they improve the organizational performance through PPM. In addition the report will also cover
the opportunities and threats in context of portfolio management of the company. It will also
provide the recommendation for the development plan with tools and techniques to manage the
portfolio management.

PPM-Watpac 3
Project portfolio management
1. Situational context and evaluation
Project portfolio management is the management of more than one portfolio that helps to
achieve organizational goals and objectives. It includes the analysis the past and present projects
and prioritizes, select and allocates the internal and external resources to which will be used in
future projects (Morris, 2010).
Introduction of PPM Watpac
To be Construction Company, Watpac invests the various kinds of projects as they deal
in the construction, marine and civil and property and other services. Hence the company has a
different and wide range of projects (Watpac, 2019). With portfolio management, the company
uses various tool and techniques with their Lean PPM as they have diverse area of projects. With
the use of meisterplan Watpac quickly creates a project portfolio. In addition, they also use the
Excel, Smart sheet and various other tools to consolidate the data and make a better decision for
their future projects. Instead of looking all the aspect of every details company’s strategy gives
the project portfolio overview to prioritize and resources and programs so that the company can
find issues and challenges, feign the different options to analyze the best one and resolve the
issues at the early stage, minimize them, capitalize the opportunities and various activities. These
help company to take necessary action at the earlier stage of the portfolio planning (Watpac,
2019).