Discussion Questions About Project Management

DQ1 Describe the terms project, program, and project portfolio. What are the benefits of project portfolio management to an organization What would be the main issues associated with implementing project portfolio management How do your organizations project portfolio management practices vary from the best practices discussed in this weeks readings What improvements would you make in your organization A project is a collaborative work that has a clear beginning, middle and end and it is a one time only plan. A particular project could entail changing the operating system, buying a new hotel and changing it over to your company brand or creating a new ad campaign by hiring a different marketing professional. A program is an ongoing process which is sometimes controlled by the original project but is meant to be open-ended. For example, when a company buys a hotel and changes the brand, it is a project. Once the project has been completed, the program is the maintaining of the hotel. You can have training programs, maintenance programs and the like. Project portfolios are methods by which a project is analyzed and collectively managed. Project Portfolio Management is a method of determining the optimum method of sequencing. Its