The presence of numerous respondents who were interviewed gave the researcher an opportunity of obtaining a multifaceted approach to a similar research problem. The research data that was gathered is contrasted against a backdrop of data derived from the literature review of previous research studies on this topic. The primary goal of this research was to underline the problem areas that affect the effectiveness of projects portfolio management in different entities.We will write a custom Project Portfolio Management and Its Effectiveness specifically for you
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Although portfolio management gives a project its overall direction, most project managers tend to supervise its intricate details to ensure that there are no aspects of the project that are ignored. Through analysing data from interviews and secondary data that the researcher had reviewed the observed, the researcher was able to discover and analyse different problems. The discussion section gives a synopsis of the general findings from the case, after which a discourse of the problem areas or obstacles to an effective and efficient implementation of PPM is given.
The importance of the PPM
All the information gathered from face-to-face interviews was tabulated to assist in concluding. The outcomes from interviews indicate many reasons and justifications for such significance. For instance, before launching the PPM, there were numerous e discrepancies and mistakes in managing most projects until they were finished. One primary reason why this like a scenario existed is because of the numerous conflicting interests between different projects. Most managers of different sectors or departments of an organisation will always fight to ensure that projects that will favour their departments are approved with little consideration of the need for such projects to ensure harmonization and coordination of different departments.
Such as behaviours have led to the replication or repetition of projects and targets, as most of these projects are presented using unrelated names. This like was like practise was common in most organisations before PPM came into existence, as there were no systematic mechanisms or managers who had the power to do away with such occurrences. Therefore, the implementation of PPM has allowed entities to realise the significance of PPM and it has also compelled teams (primarily project managers) and departments to give it the desired support aimed at making it fully operational.
In addition to this, most organisations strongly assume that launching PPM will give PM teams a reason for implementing PPM effectively, because of its effectiveness in promoting the operational environment of an entity. Further, PPM helps organisations in setting the goals of each project that may be chosen and approved, in addition to linking such projects’ targets with PPM and business goals. Moreover, the implementation of PPM gives the organisation a commonplace or information base for running and implementing projects.
Before this, most organisations executed different projects singly and separately, regardless of whether there existed projects that were related. As a result of these, any changes in any project’s scope of work or schedule could sturdily affect other projects. With the introduction of PPM, nowadays projects pools are easy to coordinate, monitor, and control, because it gives managers an opportunity to aligning all project plans with the PPM planning cycle. This is of great significance when it comes to risk identification, formulating of risk mitigation plans and promoting the better project and organisational performance. From the analysis of the answers provided by respondents, all respondents supported the idea of project management and portfolio management working in unison.
Measures of PPM effectiveness and their relevance to corporate objectives and project objectives
Although PPM is an emerging idea, there is adequate understanding and implementation of PPM. Also, although procedures and policies to maximise the value of the portfolio projects are in place in most organisations, most of them are still under development. Also, the mechanism of choosing the projects and apportioning resources are still under constant development and perfection in most organisations. However, the choosing of projects serves most organisations’ objectives and strategic goals that are well mapped to Dubai Strategic plan (2013).Get your
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Therefore, before a project is started, any project’s objectives are correctly linked or mapped to an organisation’s objectives. Regardless of this being the case, most organisations lack the necessary measurements to gauge gains from completed projects. Further, most organisations lack clear methods of reassessing the performance at portfolio levels, it being one of the most important features in the development of the PPM idea in any establishment. Most measurements are only performed in the project levels. This concept will be examined in the problem analysis section. In general, because of the new idea and execution of PPM in government agencies, the PPM performance is acceptable by the stakeholders and the gains from such an idea are realised and are likely to elevate both corporate and project success.
Suggestion for Future Research
As mentioned earlier, the main aim of this study was to discover the problems areas that influence the effectiveness of PPM in the UAE government agencies. Therefore, to have a complete view, researches need to endeavour and establish how PPM contributes to project and organisation success. Another important concept that needs investigation is how the UAE based governmental agencies gauge their maturity level of PPM and their methodology of mapping organisational goals with PPM goals. Also, more studies should be carried to uncover the contribution of the project owner or sponsor in project and PPM success.