Essay on Analysis and Synthesis of Prior Research

1261 Words Dec 22nd, 2013 6 Pages
Analysis and Synthesis of Prior Research Analysis and Synthesis of Prior Research
The companies that efficiently solve their projects issues and portfolio concerns will differentiate themselves from their competition. The projects that companies work to complete with the many different project methodologies demonstrate where the business is now, and the portfolio of projects of the organization demonstrate where the organization is headed. To effectively manage the tremendous number of projects that leaders face today in their organizations, they look to methods and processes that aid them in effectively managing a group of projects. The method used to help in this endeavor is Portfolio Project Management (PPM).
Portfolio Management
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Portfolio managers have the responsibility of evaluating the risk and reward associated with the projects contained within their sphere of influence or portfolio. Project managers are synonymous with change agents. They have the responsibility of taking a project’s goal and making it their own while utilizing their skills and expertise to inspire a sense of shared purpose among the project team members (PMI, 2012). Often times, the role of the project owner not a single, well-defined entity, but a group of people responsible for many different areas within the project (Krane, Olsson & Rolstadas, 2012).
Project Manager The project manager has a reduced scope as it pertains to the corporation’s strategic initiatives and very specific deliverables. The leadership style of the project manager must be focused on executing the activities needed to successfully complete the project while minimizing changes. Project managers determine or measures the success of a project based on the time, scope and cost. This stands in stark contrast to a portfolio manager that will base the success of the portfolio on the aggregated performance of all of the components.
Etical Issues
It is reported by Carden and Boyd (2012) because of the unfavorable publicity and corporate scandals, ethical practices for project managers are increasingly important. Project managers are one of the major factors contributing

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