Portfolio management helps the organization to scrutinize the projects underway, realign goals and strategic alternatives so that it achieves optimum success. The involvement of the management in analyzing the projects to identify whether they meet the business strategy strongly influences the overall program. Moreover, the project managers are centrally involved in initiating and monitoring programs that ensure appropriate implementation and execution of projects. The projects are viewed as the strategic plans for the organizations to achieve the set targets that only become active with integration of an efficient program management. By creating a profound organizational strategy, the managers ensure the scope and the portfolio of the business are validated and aligned with the goals of the enterprise.
Influence of organizational strategy on program
In defining the perspectives of organization’s portfolio, the managers conduct an assessment of the performance of the business before prioritizing the projects being pursued. Besides financial objectives, the managers consider other crucial factors such as market demand, technological advancement and legal requirements of the project being implemented. The criteria followed by the managers should, however, be influenced by desirability to meet the interests of the shareholders such as maximizing profits, value addition, customer satisfaction and expanding the market shares (Archer & Ghasemzadeh 2004). Implementing projects till they attain optimum success is not an easy task for the managers due to organizational challenges, for instance, inadequate resources, external constraints such as legal compliance and poor leadership..
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