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Allowing for added value to the organization, a better strategy, and efficient use of resources.
3How Portfolio Management Concepts Support a Organizations Mission and GoalsAll organizations may have different specific goals due to the various types of product/services offered. Most organizations have common missions and goals, but the way they execute those is what makes them different amongst each other and stakeholders. Portfolio management concepts give organizations proper decision making over the entire portfolio (Innotas.2016), complete visibility of what the project requires and adequate and optimal use of resources. Portfolio concepts allow better flexibility and scalability to possible solutions of portfolio needs and projects within the portfolio. Difference Between Project and Non-Project Based OrganizationsProject based and non- project-based organizations do vary from each other and can makemanaging a project challenging or easy. A project based organization have a primary focus on theproject at hand. The project focused organizations allow effective communication, efficiently finding problems and solving them along the way (Mulchay. R. 2013). This allows the project to have minimal problems along the way, due to creating an effective framework for the project. Unlike non-project based organizations, PBO's run on a project based organization. The organization focuses primarily on the project. Project managers will have more control and authority versus a non- project based organization. Project-based organizations will also have many projects, but they can be primarily independent od each other (Morley. M. 2013) Non-project organizations don't focus on the project at hand, but each department on theirown. Unlike PBO's non-project based organization are dependent on each other and can highly impact one another if not managed properly. Non- project organization follow the functional
4model, which is more like a silo (Kerzner. H. 2013). Projects can be slowed down also due to the