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Search the Internet for the terms project management, project management careers, project portfolio management, and IT project management. Write down the number of hits that you receive for each of these phrases. Find at least three Web sites that provide interesting information on one of the topics. Write a paper summarizing key information about these three Web sites as well as the Project Management Institute’s Web site (www.pmi.org). Based on your findings, how can organizations justify investing in enterprise project management for IT projects? Your paper should be 3-4 pages long, well-written and include a title page and reference page in addition to the body of your paper. Preface the document with a 1-page statement that summarizes and explains the purpose of your CT. Cite the articles you reference. Please no plagiarism and reference please.
Expert Answer
The following websites have been taken:
Ø Project Management Framework
http://www.its.monash.edu.au/staff/projects/project-management/
Ø IT portfolio & business strategy
http://projectmanagement.ittoolbox.com/topics/t.asp?t=344&p=344&h1=344
Ø Information technology project management benchmarking Association (ITPMBA)
http://www.ismbc.org/itpmba.html
Project management framework: It describes the required steps, tools and templates, designed to be used together to manage a project through its lifecycle. It is different for individual project so it is required flexible functions. It claims to have huge resources for project life cycle development. It also explains how to make proposing a project, sponsorship, managing, budget and risk on the project. It covers several types of critical issues, which manage project. It reviews assignment agreements and post implementation and then communications the plan. It provides us an opportunity to give input into the project and new developments and network with others interested in project management.
IT portfolio & business strategy: Recent study tells us about 40% of large IT organizations will take a well-organized and portfolio management approach to managing IT investments with the primary objective of improving strategic business alignment. Portfolio management, joined to the company’s strategic goals, allows both IT and business managers to make better communication and meet the company’s overall corporate strategy.
Rather it allows organizations to create a baseline of business and IT applications and create better relation between business and IT managers. It makes project faster start up and provides sufficient information and support. It gives the project control mechanisms.
To support IT portfolio to business strategy, there is few areas to consideration such as business operation, which means capturing and understanding the underlying processes across the enterprise. It is known as artifacts. From the artifacts, business manager will understand, what their portfolio will be look like and the process they support or don’t support. It will provide immediately to management in the form of better decision-making abilities by understanding the impact of proposed change.
After artifacts, the next step is a roadmap. The purpose of a roadmap is to define and communicate a clear strategy to gain the business goals, including what part IT needs to play. A roadmap allows managers to focus on planned business goals while connect them directly to necessary assets and managesto the IT portfolio. By mapping this plan and goals to the portfolio, managers are better able to communicate a central strategy to IT.
It is essential to support IT portfolio to help companies adapt quickly to meet new business challenges and also influence current IT investments to make better decisions.
Information technology project management benchmarking Association (ITPMBA): it is an association of companies where number of people conducts benchmarking studies to identify the best practices surrounding Information Technology Project Management. This website clearly underlines its mission and objective, which lead number of people in the certain company to exceptional performance.
Number of objectives:
- To conduct benchmarking studies of important information technology project management processes.
- To create a cooperative environment where full understanding of the performance and enablers of “best in class” information technology project management process can be obtained and shared at reasonable cost.
- To use the efficiency of the association to obtain process performance data and related best practices regarding information technology project management.
- To support the use of benchmarking to facilitate process improvement and the achievement of total quality.
The benchmarking network, Inc provides ITPMBA service, where people need to sign-up and register as a member. After register member will have opportunity to participate in benchmarking studies on various topics.
http://pmi.org/
PMI is one of the fastest world’s leading not-for-profit associations for the project management profession. It has 200,000 such professionals’ membership that represents a truly global community of from 125 various countries. It has resources for Education & Knowledge, Professional Development & Networking, Career Advancement & Professional Standards. The website has up to date news that makes headlines in the field of project management, which can be technical as well as non technical.
The preface presents information with regards to the works the PMI is involved, its mission and objectives. It is developed standards for the project management profession that are valued by PMI members and framework for organizations.
