Project Management: General Management System, Risks, Portfolio Management, and Organizational Maturity

Running head: PROJECT MANAGEMENT
PROJECT MANAGEMENT
Name of the Student:
Name of the University:
Author Note:

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PROJECT MANAGEMENT
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
System regarding the general management:....................................................................................3
Impact of the organizational structure, culture and forms:..............................................................3
Risk associated with the engineering system and the management:..............................................4
Value of the business:......................................................................................................................6
Life cycle of the portfolio management:.........................................................................................6
Maturity of the organization:...........................................................................................................6
Significance of the discussion:........................................................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

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PROJECT MANAGEMENT
Introduction
The project and portfolio management is important for managing the project management
process. Both the project and portfolio management is related to the project management
process. However, there are some difference between the project and the portfolio management.
The project management represents the managing of the processes between a project (Kerzner &
Kerzner,2017). On the other hand the portfolio management represents the managing of the
various projects in the organization (JOSEPH et al.,2018). There are various methodologies and
the tools useful for the managing of the process in the project management. The use and the
selection of the methodologies are dependent on the type of the project. There are certain tools
associated with the project management process. Some of these processes are referred as the
system thinking tools (Mir & Pinnington,2014). The system engineering and the system thinking
tools are responsible for the accurate compilation of the project. The main objective of this paper
is to discuss the general management system along with the risks associated with the engineering
management and the and portfolio management. The paper also discusses about the advantages
and certain challenges in the management of the whole process. The discussion has been done
on the context of the oip spill incident of the Deep water horizon case.
Discussion
The discussion regarding the different aspects of the management of the projects and the
portfolio management has done on the basis of the Deep water horizon oil spill case. Before the
discussion of the different aspect of the project management, the basis of the general
management is needed to be discussed.

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PROJECT MANAGEMENT
System regarding the general management: The general management process defines
the managing of the necessary steps used for the successful compilation of the project
management. The main objective of this project management system is to develop the project in
a certain way that it can serve the right outcome that will meet all the requirements of the clients
(Fleming & Koppelman, 2016). There are three aspects of the general management system-plan,
do and check. The right management process is responsible for the right outcome of the project
along with then successful compilation of the project.
The importance of the general management system can be classified with respect to the
deep water horizon oil spill case. The disaster can be classified as the mismanagement of the
organization. The main cause of the incident was the defect in the cement wall . The onshore
engineers were aware about the critical condition, however they did not inform the higher
authority of the organization. This represent there was the lack of the communication between
the organizational hierarchy.
However, there were certain there flaws in the management system that were the indirect
causes of the incident. These factors were the cutting of the cost in the organization , improper
government policies. The whole incident was the result of the improper management and
negligence of the system.
Impact of the organizational structure, culture and forms: The impact of the culture
of the organization and structure of the organization is also responsible for the effectiveness of
the management of the process. The organizational hierarchy indicates the effectiveness of the
flow of the communication in the organization. In case, if the organization structure is not
proper, the employees will not be able to communicate with the higher authority (Kucharska &