Business Development: Project Portfolio Management at ABC Company

This report provides a comprehensive analysis of Project Portfolio Management (PPM) implementation at AusBioCon (ABC) Company, a biotechnology firm. The report begins with an introduction to ABC's background, vision, and mission, followed by an overview of its future plans and targets. It then delves into the core concepts of PPM, including the distinctions between projects, programs, and portfolios, and details the advantages of adopting PPM. A significant portion of the report focuses on the PPM implementation plan for ABC, incorporating a SWOT analysis to assess the company's internal and external environments. Project prioritization based on risk factors is also discussed, along with the application of change management models like the Kubler-Ross Change Curve and the ADKAR model to facilitate organizational changes. The report concludes by emphasizing the importance of aligning strategic objectives with portfolio management modules to enhance decision-making and capitalize on market opportunities while mitigating threats. The report leverages charts and tables to effectively communicate the findings and recommendations.

Table of Contents
Background:.............................................................................................................................1
Introduction..............................................................................................................................2
Future plans of ABC............................................................................................................2
Targets to be achieved.....................................................................................................2
Project Portfolio Management................................................................................................3
Advantages of Project Portfolio Management..................................................................3
PPM Implementation Plan:.....................................................................................................4
SWOT Analysis:.......................................................................................................................5
Project Priority:.......................................................................................................................6
Change management models...................................................................................................8
Kubler Ross Change Curve:...............................................................................................8
The ADKAR Model:........................................................................................................8
Conclusion:...............................................................................................................................9
References...............................................................................................................................10

Background:
AusBioCon Company (ABC) is a Canberra-based Australian biotechnology ASX listed
organization established in 2010 by three Australian atomic science PhD holders. The
organization has had some expertise in Bio-Technology, and their emphasis is on DNA
Studies of Human genomes and attempting to discover different measures for relieving
medical issues through Genetical examinations. The organization's vision is to be the main
Australian biotechnology addressing and upholding the worldwide everyday routine sciences
economy and change experiences for great, and the mission is to save lives and work on life
quality satisfaction through human genomics (chart 2). In 2020, ABC was expected to
generate operating revenues of approximately $15 million and also the company is looking to
issue an initial public offering (IPO) in the next few years. The Main Principles of the
company are product innovation, technical excellence and customer focus.
Clients can browse an assortment of items and services, including actual testing packs and
software programs. ABC’s has AusBio Reagents (chart 1), which provides several reagents
needed to prepare the samples before loading them using the arrays and BioInfoTech (chart
1), an IT Development division responsible for software application development,
implementation, and customer support associated with the arrays. The primary programming
item, called AusBioTracker, permits clients to store, recover, download, transfer, report, and
track a lot of information identified with AusBioChip. The core values of the organization are
item development, specialized greatness, and client centre. The organization offers different
items and administrations to its clients, from actual testing packs to programming programs.
They sell reagents units created by its division AusBio Reagents and programming
applications, advancement, and client assistance to help its items, AusBioTracker and
AusBioChip.Those products have been working well for the company and a plan to develop
such products have been put in place to be studied (Portfolio Management Case Study, 2021).

Introduction
Future plans of ABC
In the gathering led by the leader group of ABC, the primary spotlight is on its centre
capability including item developments in microarray innovation, key associations with flow
and new outsider sequencer creators, and consistent combination of its items with sequencers.
As the company is issuing IPOs, some prospective acquirers had contacted ABC's owners,
who are still interested in an IPO. To achieve its vision and mission (chart 2), the team
identifies SWOT analysis (figure 1), a part of strategic planning.
Targets to be achieved
1. Expand revenue streams through new product development and entry into emerging
markets.
2. Increase customer satisfaction.
3. Improve current business processes.
4. Enhance the skills of project and product managers.
Before describing the PPM approach, we must understand the meaning of Project,
Programme and Portfolio.
A project is a short-term task that a company or organisation undertakes (such as creating a
new product, service, or result). A project is a small component of a more extensive
programme or portfolio managed to achieve a common goal. It is called a closed dynamic
system since it has a lifecycle with a defined start and end. It is constrained by time,
resources, and expected results.
A program is a collection of similar or related projects and is frequently handled and
coordinated as a group rather than individually (The Standard for Program Management,
2013). Programs are subprograms, projects, or other activities managed in a coordinated
manner in support of the portfolio and are organised inside a portfolio. Because programmes
are so large, they must be divided into smaller pieces (projects or subprograms) to disperse
responsibilities and make work easier (The Relationship Between Portfolios, Programs, and
Projects -Explained!, n.d.).
A portfolio, according to the (A Guide to the Project Management Body of Knowledge
(Pmbok® Guide), 2017), is a collection of projects, programmes, sub-portfolios, and
operations that are managed as a group to meet strategic goals. A portfolio manager is in
charge of both projects and programmes in a portfolio. The portfolio is derived directly from
the organisation's strategic business plan. The portfolio level makes significant decisions such
as investing.

The classification of ABC’s portfolio, program and project is highlighted in the below chart
3:
Chart 3 portfolio, program and projects
Project Portfolio Management
PPM is a valuable way to implement various organisational strategies and effectively manage
projects in large and interconnected projects. Project portfolio management (PPM) is an
approach for evaluating possible projects based on their likelihood of success and hazards
and then allocating employees, resources, and timeframes to maximise organisational
performance. A project portfolio management plan lays the groundwork for profitable and
strategically linked initiatives and effective resource management (The Standard for Portfolio
Management, 2013). It provides numerous advantages to managers and businesses by
increasing overall efficiency(Deshmukh & Mohan, 2021).
Advantages of Project Portfolio Management
 Align project objectives with the company's overall strategy.
 The process for selecting projects has been improved.
 Decision-making that is based on facts and informed.
 Optimal resource utilisation across the organisation
 Complete projects on time and within budget.
 Enhance team collaboration to increase productivity.
 Decreased organisational risk and maximise the value of project investments.
 Increase Return on Investment.

 Scheduling resources more effectively.
PPM Implementation Plan:
AusBioCon has an unambiguous vision and goals that are being utilized to research possible
future drives. The association is presently chipping away at 27 multimillion-dollar projects,
13 of which are novel thoughts and 14 ongoings, going from IT ventures to new items,
training programs, reasonable turn of events, and calculated improvements. In this way, the
powerful execution of PPM in an association is just conceivable if an appropriate execution
plan is outlined. PPM Processes comprises the accompanying advances that guarantee
significant level of strategic alignment.
 Ascertainment of business objectives
 Collect and research information on potential projects
 Selecting the projects which fulfil business objectives and crafting a tentative
portfolio.
 Checking the feasibility of portfolio by proper validating available resources.
 Managing and monitoring the portfolio.
The Classification of Portfolio, Projects and programmes of ABC Company is presented in
chart 3.

SWOT Analysis:
A SWOT Analysis is one of the most often used methods for evaluating a company's internal
and external environments, and it is part of the strategic planning process(What Is SWOT
Analysis?, 2021). An organisation can also undergo a SWOT analysis on commodities,
location, industry, or individual. SWOT analysis aids strategic planning and decision-making
by introducing opportunities to the firm as a forward-looking approach. It must be taken into
consideration while formulating a policy or plan. SWOT Analysis of AUSBIOCON
Company is described through the diagram. AusBioCon is an organisation with a well-
defined organisational structure, a robust management system, and highly driven leaders, all
of which will make PPM adoption easier from a managerial standpoint. The introduction of
PPM fundamentals necessitates comprehensive integration of the firm's many divisions,
necessitating a significant change in the management system and organisational structure to
match portfolio management with company resources for more meaningful opportunities.
The portfolio management development strategy should consider the organisation's strengths,
weaknesses, opportunities, and threats for attaining the desired goals which are mentioned in
figure 1.
.
Figure 1

Project Priority:
The table below describes which project is given priority. The projects having fewer risks,
whether ongoing or new projects, are to be prioritised.
Table 1

After analysis:
According to the information from table 1, the projects having risk factor 2 (low risk) are to
be completed first, and risk factor 4 are given second preference (refer to table 2). Only one
project has risk factor 5, which is given third preference, followed by projects having risk
factor 7. The nanopore array project is a perilous project. Therefore, it is of last priority. After
implementing the PPM approach, it would easy for the portfolio managers to analyse which
project is given priority without wasting time and resources.
Table 2: low risk and higher benefit will be completed and assigning resources firstly

Change management models
It is critical to plan and structure the entire project to make changes in AusBioCon Company,
such as digital transformation or a smooth transition during mergers and
acquisitions. Therefore, it is necessary to follow existing change management models.
Mergers, investments, and other organisational changes can benefit from well-researched
change models, which will be helpful to all stakeholders to become more comfortable with
transformation (Jouany&Martic, 2020).
Kubler Ross Change Curve:
The Kubler-Ross Change Curve (also known as the Kubler-Ross model) is the most
dependable instrument for understanding change and its stages. Business leaders worldwide
can utilise the Kubler-Ross Change Curve to assist their employees to adjust to change and
achieve success (The Change Curve, 2013). Denial, anger, bargaining, sadness, and
acceptance are the five stages in this approach. Elisabeth Kubler-Ross introduced this model
in a book called 'Death and Dying' in 1969 (Belyh, 2020).
Five stages of Angst described by Kubler Ross
 Denial – The Stage of shock or refusal is typically the main stage in the Model and is
generally brief. This stage happens when one puts on a brief guard component and cycles
certain upsetting news or reality. In this stage, workers are not able to or incapable to
acknowledge the change. This happens on the grounds that the vast majority show
opposition towards change and might not have any desire to accept what's going on.
 Anger – This model expects that when the news initially gets assimilated, outrage follows.
Forswearing changes over into outrage when representatives understand that the change is
occurring.
 Bargaining – Employees aim to get the best feasible solution out of the scenario or
circumstance during the bargaining stage. Bargaining may aid in the development of a
long-term solution and provide some relief to individuals who are approaching something
they want to avoid at all costs.
 Depression – Representatives may get discouraged and lose confidence in the event that
they find that arrangement isn't working. Low energy, non-responsibility, low inspiration,
and an absence of fervour or joy are a portion of the manifestations.
 Acceptance- When employees understand that fighting change no longer makes sense, they
may ultimately accept what is happening and begin to buy it.

The ADKAR Model:
Change Managers can utilise this model to discover different gaps in the process to offer
practical training to the workers. Although the ADKAR model spotlights business-arranged
objectives, it is precious for the workers to change more rapidly. Segments of the ADKAR
model is described as under:
• Awareness - Awareness is an essential part of understanding why change is fundamental.
• Desire - A change and supporting it is another fundamental part.
• Knowledge - A desire for change is meaningless and futile if you don't know how to make
it happen.
• Ability – Even with the craving to change and the information to achieve this change,
things can go into vain if the individual can't develop.
• Reinforcement – This structure block is fundamental to support the change. Backing to
keep the change makes it direct for all representatives that there is no turning back.
Conclusion:
AusBioCon is working toward a goal of developing biotechnologies that will improve
people's lives. AusBioCon can only realise its vision and mission if its strategic objectives
and portfolio management modules align. To ensure that the PPM strategy is effectively
implemented, change management tools and techniques such as Kubler Ross Change Curve
and the ADKAR model should be implemented. The decision-making cycle is impacted by
different and ceaselessly developing inside and outside natural variables. Therefore, after
executing the PPM approach and identification of SWOT Analysis, a portfolio manager will
prioritise the projects without wasting excess time and resources. Moreover, a portfolio
manager would able to explore market opportunities and minimise threats.

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