Sustainability in Project Portfolio and Program Management - PROJ6005

This report focuses on sustainability in project portfolio management, particularly within the context of POS Solutions, a software service provider. It examines the strategic value of project portfolio management (PPM), its impact on project life cycles, resource allocation, and organizational change. The report evaluates the current portfolio management practices of POS Solutions, assessing how the organization incorporates sustainability criteria into its business decisions. It discusses opportunities and threats associated with PPM, outlines a plan for implementing PPM, including key elements like KPI and balanced scorecards, and proposes a model for the organization. Furthermore, the report explores tools and techniques for managing different project portfolios, emphasizing the importance of strategic alignment, stakeholder engagement, and risk mitigation. The report also highlights the challenges of adopting PPM, emphasizing the need for a well-defined work breakdown structure and project prioritization. The report provides a comprehensive analysis of project portfolio management and its role in promoting sustainable growth, offering valuable insights for businesses seeking to enhance their project management capabilities.

Running head: SUSTAINABILITY IN PROJECT PORTFOLIO AND PROGRAM
MANAGEMENT
Sustainability in Project Portfolio and Program Management
Name of the students:
Name of the university:
Author note:

2Sustainability in Project Portfolio and Program Management
Executive Summary
This reported focuses on project portfolio management in the context of POS Software. This is
the most significant way of completing a larger project in a systematic manner. PPM processes
supports in governing various stages of the lifecycle of the project which is the key of managing
a project in an effective manner. Portfolio Management is basically defined as the set of
approach for carrying out various activities of a project such as planning, managing and
executing work and thereby delivers the project in timely and cost effective manner.
2

3Sustainability in Project Portfolio and Program Management
Table of Contents
Introduction:....................................................................................................................................4
Situational Context and Evaluation of portfolio management:.......................................................4
Background of the company:.......................................................................................................4
The way of perceiving portfolio management according to the project need and size:..............5
The way of managing current portfolio:......................................................................................5
Assessing the way, through which the organization incorporates sustainability criteria into its
business decision making process and its operations:.................................................................6
Opportunities and Threats portfolio management:..........................................................................7
The success that the organization may experience by introducing a project portfolio
management (PPM) process:.......................................................................................................7
The challenging of adopting by introducing a project portfolio management process:..............7
Development of the Plan to execute portfolio:................................................................................8
Key elements of the plan to include project portfolio management into the organization:.........8
Proposed model of project portfolio management for the organization:.....................................9
Plan to implement project portfolio management into the organization:....................................9
Tools and Techniques for implementing different portfolios:.......................................................10
Techniques, available for managing different types of project portfolios and which ones would
you propose for the organization and why:...............................................................................10
Conclusion:....................................................................................................................................11
References:....................................................................................................................................12
3

4Sustainability in Project Portfolio and Program Management
Introduction:
The current portfolio of an organization plays a major role in terms of reflecting the
priorities and the range of investment for the sake of promoting sustainable growth of business
(Lee, Trzcinka & Venkatesan, 2019). This report will put forth the discussion of portfolio
management in the context of POS Solutions. This is one of the leading software service
providers in Australia, offering high quality of services to the small and medium size
organizations (Possolutions.com.au. 2019). Tools and techniques used for managing portfolios
will be discussed in the report. Furthermore, in this paper, plan will also be developed in order to
develop project portfolios.
Situational Context and Evaluation of portfolio management:
Background of the company:
POS Solutions is one of the leading companies in the retail software industry of
Australia, providing best point of sale system to the small and medium size organizations. Being
experienced software, the organization also provides super quality of point of sale equipment to
the news agencies, pet shops and pharmacies. Based in Melbourne, the company is running their
business successfully throughout the nation for more than 30 years. The internal functionality of
the company comprises of designing market-specific hardware and software
(Possolutions.com.au. 2019).
The core mission of the company is “to provide the customers with complete range of
solution such as software and hardware and effective point of sale support”. The fundamental
4

5Sustainability in Project Portfolio and Program Management
vision of the company is to provide electronic virtual services such as payment, gift cards and
telephone recharge.
The way of perceiving portfolio management according to the project need and size:
Being a software service providing company, it the prime responsibility of POS Solutions
to execute project portfolios as it would help them to manage a bigger project in a systematic
manner. Introduction of portfolio management mechanism will also help the company to
simplify the ways of working of the human resources (Platanakis & Urquhart, 2019). Collecting
the data from the market regarding which company needs software solution and making effective
decision accordingly are the key factors of the internal functionality of POS Solutions.
Thus, the organization should perceive portfolio as the greatest tool for better strategic
planning in accordance with the incoming demand for software solution. In addition, POS
Solutions can also view project portfolio as an important medium for making a balance in
between demand and capacity and thereby align the plan and resources properly for executing a
larger project successfully.
The way of managing current portfolio:
Managing project portfolio is the best way, through which the performance of business
can be maintained, which is the key of ensuring that the programs are being delivered in
accordance with the needs of clients. Being the software solution provider, POS Solutions has
executed P3M tools in order to manage their projects with utmost efficiency. Project, Program
and Portfolio Management (P3M) is the major tool, being used by POS Solutions in order to
complete larger project in a timely and cost effective manner. P3M is a framework, which
comprises of effective policies and procedure as well as governance model, which are the key
5

6Sustainability in Project Portfolio and Program Management
factor for designing and delivering a project within time and budget. Initially, through the P3M
tool, POS Solution is prioritizing their organizational goal and defines comprehensive strategy in
order to accomplish the goal. POS Solution is using P3M as a platform in terms of selecting the
most valuable project. This is the way, through which the product timeline is being maintained
by POS Solution with utmost efficiency. However, the P3M tool is entirely based on managing a
project properly and cannot measure the critical success factors such as timely delivery (Stewart,
Piros & Heisler, 2019). Thus, it is imperative for POS Solution to improve the project
management tool, which can incorporate critical success factors.
Assessing the way, through which the organization incorporates sustainability
criteria into its business decision making process and its operations:
Maintaining sustainability in the way of running business is one of the most significant
matters of consideration in the contemporary times. Thus, it has become the matter of utmost
importance for the organizations to integrate sustainability criteria into the business process.
Integration of the requirements of external stakeholders is one of the most significant ways,
through sustainability can be incorporated within the business process (Kaucic, 2019).).
Stakeholder’s matrix will play a significant role in this context. This is the major project
management tool. Protecting the environment from the negative effect of business is the major
sustainability practice, executed by POS Solution. The company is highly committed towards
following the environmental laws and enriching the community in which they are running
business. Leading the children to access education is the vital sustainability practice, followed by
POS Solution.
6

7Sustainability in Project Portfolio and Program Management
Opportunities and Threats portfolio management:
The success that the organization may experience by introducing a project portfolio
management (PPM) process:
Managing project portfolio is an incredibly important factor in terms of organizing a
bigger project by delegating the roles and responsibilities among the human resources as per
their skills and competencies. While carrying out a variety of project, it becomes difficult for the
companies to seek the most valuable resources (Beraldi et al., 2019). Thus, execution of project
portfolio management will help POS Solution to align all the resources properly at the initial
stage of the project. This can spur POS Solution to speed up their project, which is the key of
ensuring in-time delivery. In addition to that, implementation of project portfolio management
program will also help POS Solution to carry out the project in a strategic direction.
In addition, project portfolio management process is one of the major ways, through
which POS Solution will also access greater involvement of resources and the staffs, which is the
key of completing a project in a timely and cost effective manner. By implementing project
portfolio management process, POS Solution can also attract the senior management and having
them aligned in the initial stage of the project, which is the key of attaining greater level of
success throughout a project (Petro et al., 2019). The range of risk is extremely high in terms of
managing a project. As implementation of PPM process supports in aligning all the valuable
resources, this will help POS Solution to mitigate all the risk and ensure success of the project.
The challenging of adopting by introducing a project portfolio management process:
It is true that, PPM process is highly important factor for completing a project with
utmost efficiency. Still, it has some challenges, which can affect the entire operation of POS
7

8Sustainability in Project Portfolio and Program Management
Solution. One of the greatest issues of PPM is that, it does not incorporate any kind of work
breakdown structure. This is the key factor in completing a project in an effective manner. Thus,
execution of PPM process will affect the ability of POS Solution to deliver the project within the
dead line (Enoch, 2019). There are multiple departments in an organization, each of which may
run different types of project. PPM lacks the ability to select the project as per the priority.
This may create complexity for the companies like POS Solution to strengthen the value
of their business by delivering the project within time and cost. Initially, it is imperative for POS
Solution to make a plan in order to priorities the projects as per the delivery time. At the same
time, it has been observed that PPM comprises of the issues related to work breakdown structure.
Thus, it is imperative for POS Solution to make a plan by incorporate the activities, required for
completing a project. This will help in completing a project with utmost efficiency (Linhart,
Röglinger & Stelzl, 2019).
Development of the Plan to execute portfolio:
Key elements of the plan to include project portfolio management into the
organization:
In order to implement effective project portfolio management, it is imperative to select
the project in accordance with the organizational capabilities and strategic goals. As the staffs are
key asset of an organization, initially it is imperative to measure the ability of the staffs and thus
evaluate whether they are capable to carry out the project (Costantino, Di Gravio & Nonino,
2015). The role of key performance indicator (KPI) is highly imperative in order to measure the
performance level of the employees. This is the way, through which effective project related
decision can be taken and thus move the project towards right direction. This is the way, through
8

9Sustainability in Project Portfolio and Program Management
which the strategic objective can be accomplished. The role of balanced score card approach is
needed to be considered in this context. Implementation of this approach will help POS Solution
to evaluate the business strategies and the activities of the staffs, which are the key factors to
attain desired goal (Kaiser, El Arbin & Ahlemann, 2015). With the assistance of balanced score
card approach, the project manager of POS Solution can control and monitor the activities of the
staffs, which is very much needed in terms of leading them towards proper direction.
Proposed model of project portfolio management for the organization:
As the intensity of competition in the IT industry of Australia is increasing in a raid
manner, it is imperative for POS Solution to implement Enterprise Project management
framework. This is the way, through which a proper information system can be executed by
incorporating communication, thinking and working of the organization (Jenner, 2016). With the
assistance of Enterprise Project management framework, it will be easy for POS Solution to
align all their valuable resources with that of the mission, vision, strategy and goal and thereby
move the organization forward. Through this way, centralized busies function can be ensured.
Plan to implement project portfolio management into the organization:
Implementation of appropriate planning plays a major role in determining the success of
a project. Thus, it is imperative to make a plan in terms of hiring efficient project manager,
steering group and project team. Regular feedback from the management is the key factor to be
integrated in the project. This will help the project manager of POS Solution to have an idea
regarding the extent, to which they have accomplished the performance against the stated
objective (Siew, 2016). Setting the right strategy and winning the executive support are the major
factor to be included while making plan to execute project portfolio management process.
Roadmap for implementing project portfolio management process is as follows:
9

10Sustainability in Project Portfolio and Program Management
Figure 1: Root map for implementing project portfolio management
(Source: As created by the author)
Tools and Techniques for implementing different portfolios:
Techniques, available for managing different types of project portfolios and which
ones would you propose for the organization and why:
There are various techniques, being used widely in terms of managing the project with
utmost efficiency. Managing the team across multiple projects is the vital ways of managing
multiple types of project portfolios. It is imperative to hire multiple people for multiple project
by aligning all the valuable resources. This is the way, through which wide ranges of project can
be delivered within a single time (Muller, 2017). By managing the team across multiple projects,
it will be easy for the companies to avoid conflict and team frustration. Managing tasks across
10
Plan
Goal and purpose
Service offering
Busienss process
Governance
Time frame (within 2 momnths)
Implement
Job description
Inventory analysis
mtjodology and standard definition
Skill assessment
PPM system plan
Manage
Project review
Monitoring the project
Senior ledership
Maturity assessment
Working with governance

11Sustainability in Project Portfolio and Program Management
multiple projects is another major way of managing project portfolio. This is the way, through
which the management can perceive whether the staffs are working properly in accordance with
the project goal. One of the greatest advantages of this technique is that, it will help in ensure
task dependency throughout the project. Execution of Real-Time Dashboards is another major
way of managing project portfolio (Stettina & Hörz, 2015). This is the way, through which real
time information can be acquired, which is the key of delivering high quality of project as per the
requirement of the customers. Being a software service provider, it is suggested for POS Solution
to execute real time dash board. This will help them to get relevant information regarding the
software suppory need across Australia.
Conclusion:
Problematic project choices and issues in terms of proper structuring of the project are the
key issues, facing by the software companies. Appropriate synchronization of project is very
much needed as it supports in completing a big project in a timely and cost effective manner.
There lies the significance of project portfolio management which can help in managing a project
in a systematic manner.
11

12Sustainability in Project Portfolio and Program Management
References:
Beraldi, P., Violi, A., Ferrara, M., Ciancio, C., & Pansera, B. A. (2019). Dealing with complex
transaction costs in portfolio management. Annals of Operations Research, 7(3), 1-16.
Costantino, F., Di Gravio, G., & Nonino, F. (2015). Project selection in project portfolio
management: An artificial neural network model based on critical success
factors. International Journal of Project Management, 33(8), 1744-1754.
Enoch, C. N. (2019). Project portfolio management: a model for improved decision making.
Business Expert Press.
Jenner, S. (2016). Transforming government and public services: realising benefits through
project portfolio management. Routledge.
Kaiser, M. G., El Arbi, F., & Ahlemann, F. (2015). Successful project portfolio management
beyond project selection techniques: Understanding the role of structural
alignment. International Journal of Project Management, 33(1), 126-139.
Kaucic, M. (2019). Equity portfolio management with cardinality constraints and risk parity
control using multi-objective particle swarm optimization. Computers & Operations
Research, 109(3), 300-316.
Lee, J. H., Trzcinka, C., & Venkatesan, S. (2019). Do Portfolio Manager Contracts Contract
Portfolio Management?. The Journal of Finance, 8(8), 89-120.
12