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For example, strategy projects receive less funding compared to tactical projects. ConclusionPortfolio management is believed to be the leading strategy in the success of the modern companies. Adopting these strategies as discussed above enables the company to provide confidence to stakeholders (shareholders, customers, employees, and suppliers). . Additionally, embracing technology helps the company to lower down the cost of running the projects as well as improving reducing the payback period. In an effort to improve portfolio management, the company should embrace a culture of promoting the management of the portfolio by ensuring that the process is deeply rooted throughout the company. This involves workers across departments, they should be supportive in all aspect by way of communicating and investing their knowledge and skills in companies project undertakings. Most importantly, the management should set aside enough resources for the project management. Dedicating enough resources means getting effective solutions, additionally, the company must invest in training the professionals who participates directly in portfolio management to ensure the company is heading towards achieving its objectives. The management should be aware of the challenges that face the project management in order to avoid derailment of the projects development. Among them include, adopting poor tools and in-effective technology, in adequate knowledge and understanding. Another most common
factor that bars project development is failure to agree or set good pace of project adoption by the managers. Therefore, it is important for the managers to agree on the most suitable time frame and pace of project developmentReferenceFernsten, L., & Fernsten, J. (2005). Portfolio assessment and reflection: Enhancing learning through effective practice.Reflective Practice 6(2), 303–309.Hamp-Lyons, L., & Condon, W. (2000). Assessing the portfolio: Principles for practice, theory, and research. Cresskill, NJ: Hampton Press.Jardine, A. S. (2013). Key points of the authentic assessment portfolio. Intervention in international business, 31(4), 252–253.Martin-Kniep, G.O., Cunningham, D. & Feige, D. M. (1998). Why am I doing this?: Purposeful teaching through portfolio assessment. Portsmouth, NH: Heinemann.Rodgers, C. R. (2002). Voices inside schools, seeing student learning: Teacher change and the role of reflection. Harvard Educational Review 72(2), 230–253.Assignment 6: Portfolio