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Sustainability and Project Portfolio Management |Assignment - BN205

   

Added on  2020-03-01

15 Pages3829 Words57 Views
Running head: SUSTAINABILITY AND PORTFOLIO MANAGEMENT 1Sustainability and Portfolio ManagementStudent NameInstitution

SUSTAINABILITY AND PORTFOLIO MANAGEMENT2Table of ContentsIntroduction.................................................................................................................................................2Situational Context......................................................................................................................................2Portfolio Evaluation.....................................................................................................................................5Portfolio Management................................................................................................................................7Maturity Levels............................................................................................................................................8Corporate Culture........................................................................................................................................9Effect or outcome of the PPM...................................................................................................................11Conclusion.................................................................................................................................................11Reference..................................................................................................................................................12

SUSTAINABILITY AND PORTFOLIO MANAGEMENT3IntroductionSiemens Australia is a subsidiary of the Siemens organization that is global multinationalorganization. Siemens is the manufacturer of advanced technologies with a focus on engineeringproduct and solutions while at the same time investing in sustainable programs. Siemens divisionof Australia and New Zealand particularly deals in digitalization, manufacturing, automobile,healthcare technologies, and services. In line with organization’s goals, the organization hasdeveloped a project portfolio management (PPM) system that assists in ensuring that portfolio ismanaged and evaluated to achieve objectives. Most of the portfolio management system in theorganization has been reduced to automated machine that runs and is controlled by computersoftware called Teamcenter. The whole system though has proved efficient is also facing somefew challenge (Feldenkirchen & Eberhard, 2005). The following document gives findings thereview of the project portfolio management implementation that is submitted to the executivemanagement. Situational ContextThe organization is investing in the right project since the organization is investing inprojects that aim at benefiting and incorporating community or society for common good. Thereare many reasons why portfolio management is the right project for the company. Firstly, theorganizational portfolio is organized into a system that critically allows other innovative ideas tobe implemented into the organization. The program also works to utilize innovative ideas for thebetter performance of the organization. Secondly, the organization’s PPM recognizes and utilizesthe opportunities that are available for the benefit of the organization and society. Thirdly, thePPM also optimises resources through identifying different areas of efficiencies and play withoutdelay by better planning. Fourthly, the organization has current trending sustainability criteria

SUSTAINABILITY AND PORTFOLIO MANAGEMENT4that satisfy the UN calls for sustainable environmental programs. Moreover, the PPM has abaseline that is open for future improvement or success of the business and this is enabledthrough high synchronization that the program offered in the line of the business objectives andgoals (Sanwal, 2007). Secondly, the organization is optimising because the organization is in the course ofmeeting its core objective of ingenuity for life. The organization has high optimising tools thatare incorporated with current innovative technologies to ensure that the organization PPM is atthe same level with other current advanced technology. The organization reduces delay or andoptimise efficiencies through identification of the areas that need improvement. The PPM alsoutilizes high planning ability that also reduces inefficiencies in the project. The system allowsproper early planning and financial resource using the organization’s robust technology withintelligent programmers. In addition, the system has been optimised for a balanced system thatallocates resources in program specific capabilities (Schipper,et al 2012). Thirdly, the organization is executing the project well and this is evident by someprojects that are implemented across Australia. The organization has a project portfoliomanagement system that is described as product lifecycle management. This system automatesproduct development process without considering the size or complexity of the process since thewhole system is computerized. The project execution makes use of the high efficiency of theportfolio management process within the organization that has been pre-planned. Moreover,digitalization of the system has been executed when the management decided to implement thedigital process automation. This gave birth of the computerized system using software calledTeamcenter. Teamcenter has been incorporated in the system through program termed asenterprise portfolio management. Enterprise portfolio management is a kind of process lifecycle

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