Week 7 Portfolio: Advantages/Disadvantages of PM Systems (PPMP20012)

This portfolio assignment for PPMP20012 analyzes the advantages and disadvantages of manual and electronic project, program, and portfolio (PPPM) application systems across the project life cycle. The student explores the benefits of electronic systems like quick data processing and automatic report generation, contrasting them with the traditional manual systems, which may be prone to human error and slower processing. The assignment emphasizes the importance of accurate program and portfolio management for project success, discussing how appropriate portfolio management aids in risk mitigation, resource tracking, and achieving strategic objectives. The student references readings and tutorials to support their understanding of the subject, highlighting the importance of effective application systems in project management. The assignment also touches upon the significance of portfolio management in project execution and the documentation of project progress, underscoring the need for effective management in achieving business and organizational strategic goals.

(Insert Student Name) / (Insert Student Number) - PPMP20012 Unit Portfolio for Week 7
Week 7: Compare and contrast the advantages and disadvantages of different manual and electronic PM
application systems within each PM knowledge area over the life cycle of a project.
Reading samples Learning
outcome # 7
Learnings from your weekly study, experience, this and
prior unit readings and assignments
Supporting
documentation
including any
prior learning
Mandatory Readings
 SEBoKPart 4:
Applications of
Systems
Engineering;
 AS/NZS
15288:2015
Annex F & G
Compare and contrast
the advantages and
disadvantages of
different manual and
electronic project,
program and portfolio
(PPPM) application
systems within each
PPPM knowledge area
over the life cycle of a
project, program or
portfolio.
This week’s learning has given an idea of the manual as well as the electronic
project program and portfolio application system.
Program and portfolio management is an integral part of project execution and
project life cycle.
A group of projects and program activities are needed to be managed in a
coordinated way for accurate management of the projects. A portfolio on the
other hand is a collection of project programs and sub-portfolios for achieving
the strategic objective of the project.
This weeks’ learning have helped me to understand the different advantages
and the disadvantages of program and portfolio management. Portfolio
management is important as to gauge the scope of a project.
The portfolios are documented and managed during the execution of a project.
A portfolio generally incorporates a number of elements, which includes tasks
from projects and their status of execution.
There are a number of benefits or advantages of portfolio management which
includes easier involvement and easier risk mitigation. The resource availability
can be easily tracked with active portfolio management.
Program management is an important aspect of project management.
The electronic program and portfolio systems are quite accurate and can be
processed quickly, which is a significant advantage of this type of application
system. The manual application systems are the traditional systems that do not
ensure quick data processing. The manual information system is associated with
certain issues including human errors and slow processing speed of the data
that is stored.
PPMP20012Unit Profile
PPMP20012 Moodle
Website
Lecture Slides
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(Insert Student Name) / (Insert Student Number) - PPMP20012 Unit Portfolio for Week 7
Reading samples Learning
outcome # 7
Learnings from your weekly study, experience, this and
prior unit readings and assignments
Supporting
documentation
including any
prior learning
Be it electronic or manual application systems associated with portfolio
management, accurate management of those systems is essential for
determining the profitability of a particular project along with the project
progress.
Automatic report generation is another advantage electronic project, program
and portfolio (PPPM) application systems, which may not be observed in the
manual systems.
The electronic and the manual program ad portfolio application systems helps in
easier management of the portfolio of services and the application that is to be
delivered.
From this week’s learning and tutorials, I have understood that it is essential for
a project to ensure accurate program and portfolio management. Appropriate
portfolio management helps in easier implementation of the project evaluation
phase in project development life cycle and every necessary details about the
different activities of the project is documented in the project portfolios. This is
another significant advantage of making use of different manual and electronic
project, program and portfolio (PPPM) application systems.
Appropriate management of the portfolios is important for the project
execution phase as well as it helps in easier tracking and documentation of the
project progress. Accurate management of the program and the portfolios help
in achieving the strategic objectives of a business and an organization.
This week’s learning has been quite helpful for me in understanding the concept
and importance of program and portfolio management in project execution and
implementation. I have learnt about the different advantages as well as the
disadvantages of different manual and electronic project, program and portfolio
(PPPM) application systems that will be helpful for me in my professional career
as well.
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(Insert Student Name) / (Insert Student Number) - PPMP20012 Unit Portfolio for Week 7
References
Beringer, C., Jonas, D., & Kock, A. (2013). Behavior of internal stakeholders in project portfolio management and its impact on success. International Journal
of Project Management, 31(6), 830-846.
Martinsuo, M. (2013). Project portfolio management in practice and in context. International Journal of Project Management, 31(6), 794-803.
Stettina, C. J., & Hörz, J. (2015). Agile portfolio management: An empirical perspective on the practice in use. International Journal of Project
Management, 33(1), 140-152.
Young, M., & Conboy, K. (2013). Contemporary project portfolio management: Reflections on the development of an Australian Competency Standard for
Project Portfolio Management. International Journal of Project Management, 31(8), 1089-1100.
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