Sustainability in Project Portfolio Management

Running head - SUSTAINABILITY IN PROJECT PORTFOLIO MANAGEMENT
Sustainability in project portfolio management
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SUSTAINABILITY IN PROJECT PORTFOLIO MANAGEMENT1
Introduction
Woolworths group have been on the most prominent organization in the Australian
market. It have retail shops and markets all over Australia and New Zealand. It have been
generating great amount of revenue and providing customers satisfaction. It provides retail
products to their customers in a valuable price (Kaiser, El Arbi & Ahlemann, 2015). In
addition to the Australian market, it have been the second largest company at Australia in
terms of revenue. In the recent days, there have been some of the factor which have affected
the operation of the organization. Thus, the organization have been taking in the
consideration of project portfolio (Costantino, Di Gravio & Nonino, 2015). The decision have
been made in order to make certain changes in the strategies and making clear advancement
in the success of the project. The management would be helping the organization in achieving
sustainability goals. The following repost would be discussing about the various factors like
introduction of portfolio management, how organization currently manages the project, scope
of improvement, opportunities and threats of project portfolio management, development of
plan and the key tools and techniques used in developing the project portfolio management.
Discussion
Project portfolio management (PPM) may be a strategic alignment method by that AN
organization’s comes are evaluated to spot the aim, fit, and edges as they relate to company
goals (Kopmann et al. 2017). Projects will then be sorted into programs supported
connectedness and similarities. All programs and their several comes ought to then represent
a portfolio strategy undertaken by the project management workplace (PMO) to fulfill overall
company objectives. As such, PPM isn't simply a method for orienting comes with strategy,
however additionally for orienting project policies and processes with structure objectives
(Jenner, 2016).

SUSTAINABILITY IN PROJECT PORTFOLIO MANAGEMENT2
The main purpose of project portfolio management is to provide strategic alignment in
the process of making organizational projects more evaluating (Lock & Wagner, 2018). This
is done for the identification of the purpose of applying the program. All the projects taken up
by the organization could be stated into program, on the basis of relevance and the
similarities that immerge among the project. These programs would be in respect to portfolio
strategy, which will be undertaken by the office who is being appointed for the project
management control. It would be job of the project management control officer for seeing
that all the project objectives are meet overall by the company (Muller, 2017). The process of
project portfolio management is not just a simple process of aligning the projects with the
application of strategy, it also overview upon the fact that the aligning of the project is done
on the bases of similar policies and process with respect to the organizational objectives.
Currently, Woolworths group have been implementing strategic approaches in
completing and managing their projects. It would be helpful in maintaining all their projects
on the basis of their project discussion factors and analysis of the project scopes. There are
various factors on which managing of any project depends. Some of the basis scope of
managing a project are initiating the project process, planning the project process, execution
of the planned process, managing the project and finally closure of project (Lo et al. 2019).
Before any initiation of any project that is being conducted by Woolworths group, it is first
estimated that the scope of the project is well defined, how the project would be helping in
near future and how accomplishment would be established. Without proper definition of the
scope of the project, it would be harmful for the finding the cause of the project and how it
would be benefiting the organization. It is crucial to understand the future traits of the project
and how it would be helping the organization on overall basis (Stettina & Hörz, 2015).
Woolworths also determines the available resources that they have at their possession for
completion of the project. With the help of proper equipment and funds, it would be quite