Compose a 4- to 5-page report (not counting diagrams or tables) describing the IT project portfolio. This is an opportunity for you to be creative in this assignment. Once again, select a real or fictitious organization so that you can give specific examples.
Define what is meant by IT “project portfolio,” and differentiate it from project management. Describe briefly the process by which executive management evaluates proposed projects, potentially accepting them into the active set of projects in execution within the portfolio. Establish roles important for the process of evaluating, accepting or rejecting the projects, securing funding, and tracking them at an executive level. Show the process in an original process flow depicting at least one decision point and rejection review loop for editing and resubmission of project proposals for acceptance into the project portfolio.
Identify the IT projects for a real or made up company of your choice. You can draw on your past experience or create your own projects. Identify 5 to 8 projects so that you can compare projects described in the assignment. The report must evaluate each identified project against the following criteria:
- The project fits within the organization’s objectives
- The project drives or creates more revenue for the corporation
- The project cuts the cost of doing business
- The project is mandated by laws (federal, state, county, or local) or executive orders
- The competitor has undertaken a similar project
Determine recommendations for the best set of sequencing for the approved projects. Answer the management questions: (a) what projects have dependencies?; and, (b) what projects can be executed concurrently?