you have to read this file
1. Assessment item 2— Group Report Assessment item 2— Group Report Assessment Title - Group Report Assessment Due Date - Week 10 Sunday (27 Sep. 2020) 11:59 pm AEST Return Date to Students - Week 12 Friday (9 Oct. 2020) Weighting - 30% Task Description Propose a portfolio management framework that would realize a company’s strategic objective Purpose The primary purpose of this assessment item is to help you to be able to apply systems thinking and the tools and techniques related systems thinking in coming up with a comprehensive solution to a complex problem. The secondary purpose of this assignment is to give you the opportunity to enhance your analysis, critical thinking, and written communication skills; particularly in the areas of argument development and academic writing. Finally, this assessment aims to provide you the ability to apply project management information systems in prioritizing portfolio components, and managing group projects. Task - This is a group assessment (3 to 4 students). - Select a specific strategic objective related to student pillar in CQUniversity's 2019-2023 Strategic Plan, Our Future Is You. The objectives are given on page 6, 7 of the CQUniversity's 2019-2023 Strategic Plan document which can be accessed via the following link: https://www.cqu.edu.au/__data/assets/pdf_file/0026/97028/CQUniversity_Strategic_Plan_2019-2023.pdf - Using systems thinking tools and techniques that might aid project managers to design a portfolio and its components (i.e. related projects and programs) that will potentially realize a strategic objective. - Propose a Portfolio Management Framework to manage the portfolio implementation - The report of the portfolio management framework must have all components as stated in the ASSIGNMENT GUIDE provided on Moodle. - The team would need to demonstrate the application of project management information systems (e.g. Microsoft portfolio management, Asana, Jira, Monday.com, etc) in managing this project. Samples of Portfolio Management Plan · Portfolio Delivery Framework: ACT Health · Portfolio management transformation EY · Portfolio Management Planning Commonwealth Environmental Water Submission Note Only ONE member on behalf of the group would submit the group work. Word limitation Word limitation is not part of the marking criteria due to the nature of the assignment. As few students still would like to have a suggestion on the length of the submission, a loose word limit of 2000-3000 words is suggested. PPMP20012 Program and Portfolio Management Information Systems Assessment 2: Assessment Guide Assessment Title · Group Report Assessment Due Date · Week 10 Friday (25 Sep. 2020) 11:59 pm AEST Return Date to Students · Week 12 Friday (9 Oct. 2020) Weighting · 30% Task Description Propose a portfolio management framework that would realize a company’s strategic objective Purpose The primary purpose of this assessment item is to help you to be able to apply systems thinking and the tools and techniques related systems thinking in coming up with a comprehensive solution to a complex problem. The secondary purpose of this assignment is to give you the opportunity to enhance your analysis, critical thinking, and written communication skills; particularly in the areas of argument development and academic writing. Finally, this assessment aims to provide you the ability to apply project management information systems in prioritizing portfolio components, and managing group projects. Task · This is a group assessment (3 to 4 students). · Select a specific strategic objective related to student pillar in CQUniversity's 2019-2023 Strategic Plan, Our Future Is You. The objectives are given in page 6, 7 of the CQUniversity's 2019-2023 Strategic Plan document which can be accessed via the following link: https://www.cqu.edu.au/__data/assets/pdf_file/0026/97028/CQUniversity_Strategic_Plan_2019-2023.pdf · Using systems thinking tools and techniques that might aid project managers to design a portfolio and its components (i.e. related projects and programs) that will potentially realize a strategic objective. · Propose a Portfolio Management Framework to manage the portfolio implementation · The report of the portfolio management framework must have all components as stated in the assignment guide provided on Moodle. · The team would need to demonstrate the application of project management information systems (e.g. Microsoft portfolio management, Asana, Jira, Monday.com, etc) in managing this project. Expected Deliverable The deliverable of the proposed Portfolio Management Framework would be a Portfolio Management Plan. In this assignment, your team would provide the portfolio management plan of the portfolio implementation which helps you obtain the selected goal in CQU. Portfolio Management Plan establishes how a portfolio is defined, organized, optimized, and controlled. It is a collection of plans. Portfolio management development is an interactive process and includes the integration of subsidiary plans such as value, communication, and risk management plans. The objectives of the portfolio management plan are to: · Provide a longer-term overview · Provide clarity to stakeholders · Motivate people to commit to the delivery of the shared goals · Convert the balanced portfolio into a plan · Provide a baseline against which progress can be monitored, reviewed and managed Excluding the following required components, your team can extend with additional sections and information which is relevant to the context that your portfolio is implemented. The order of the sections is based on your team’s logic and it is part of the presentation marking criteria. 1. Document purpose It could be written as an executive summary. In this section, you need to provide the purpose of your portfolio management plan. 2. Portfolio strategy The portfolio strategy is a document to communicate a brief description of the vision and objectives for the portfolio and how these objectives will be achieved and must be endorsed by senior management. The portfolio strategic plan articulates the options, preferences, and factors that will be considered in a specific portfolio that will aid the decision-makers in aligning, authorizing and controlling the portfolio and its components with the organizational strategy, future benefit, and stakeholder expectations. Normally it will have a time horizon of several years. The typical contents are: · Vision and longer-term objectives for the portfolio which is based on the alignment with the organization’s goals and objectives · Overview of the strategic priorities: Investment criteria, categorisation, and classification. · High level to be realized benefits information and how they link to the strategic objectives · Portfolio description 3. Portfolio Scope Management The scope of a project includes all requirements in the smallest foreseeable detail. However, in portfolio management, the scope is defined strictly top-down, stemming from the overarching goals as a source of inspiration into the types of projects that are aligned with them and are likely to be initiated. The scope of a project portfolio usually informs the type of projects that make up the activity of an organisation. Hence, your team should provide details: · Initiatives can be appraised and prioritized · Strategic objectives can be optimized with available resources and risks · Portfolio structure including a listing of the various portfolio components and other work (aligned to the investment criteria and categorisation in The portfolio strategy section) · Constraints and assumptions 4. The Portfolio Delivery Schedule & Milestones Portfolio delivery schedule shows when which project or programme will run and key milestones. This provides a baseline against which to assess the progress of the project output delivery. Key dependencies show the logical dependencies between projects within the portfolio. In this section, your team should include the portfolio roadmap and a brief explanation of the content. Example: 5. Portfolio Governance Plan The portfolio governance plan defines the way the organizational assets and resources are planned to be managed within the portfolio according to the specific environment of the organization. It establishes and tailors the decision-making rights and authorities, responsibilities, rules, and protocols needed to manage progress based on portfolio risk towards the achievement of their organizational strategy and objectives. To implement and maintain portfolio management in your organization you need to have senior managers who are committed to portfolio management. Your team will need to provide the following information but not limited: · Responsibilities of the roles related to your portfolio (e.g. sponsor, the board of governance, portfolio stakeholders, executive stakeholders, and program and project managers, etc). · Stage gates and portfolio reviews · Portfolio oversight (the structure and role and responsibilities of the portfolio management office (PMO) is described if it is used) Example: · Portfolio Direction Group (PDG) · Portfolio Progress Group or Change Delivery Committee · Portfolio Office (permanent) · Centre of Excellence · Etc… Purpose and responsibilities of Portfolio Direction Group (PDG) This is the governance body where decisions about the inclusion of initiatives in the portfolio are made. No initiative should be included within the portfolio or funded without the PDG’s approval. Purpose and responsibilities of Portfolio Progress Group / Change Delivery Committee (PPG/CDC) This is the governance body responsible for monitoring portfolio progress and resolving issues that may compromise delivery and benefits realization. Purpose and responsibilities Portfolio manager The portfolio manager coordinates the effective and efficient operation of the portfolio management practices and provides support to the business change director/portfolio director, PDG, and PPG/CDC – including ensuring that they receive the information they require to enable them to discharge their responsibilities. The portfolio manager reports to the PDG and in particular to the Business change director or Portfolio director. 6. Portfolio Capacity and Capability Management The resources to deliver the Portfolio are constrained. The purpose of resource management is to put in place mechanisms to understand and manage the amount of resources required and available. Your team should include the following information but not limited: · Resource groups (technical resource groups, project human resource groups, project shared human resource groups, etc.) · Capacity Supply and Demand Analysis · Portfolio resource interdependency and priority · Portfolio resource supply and demand allocation Example: 7. Portfolio Value Management The portfolio value management plan gives a summary of the benefits to be realized in the year ahead and provides a clear view of the planned returns from the organization’s accumulated investment in change and will act as the baseline against which to track the benefits actually realized. It contains: · The scale of impact of the benefits forecast to be realized, when they will be realized (monthly or quarterly) and what metrics to be used to assess the benefits realization. · Portfolio performance metrics (There are many metrics to choose from. You have to make a selection, which reflects the maturity level of your portfolio management.) Metrics related to value may attach to tangible and intangible outputs or effects. For example, tangible values are: skills uplift, resource capacity; market share, and client satisfaction. Intangible value cannot be directly measured. They could be: brand awareness, organization’s reputation, risk exposure, compliance, and societal value. · Examples of portfolio performance metrics: · Portfolio composition (% strategy contribution; % strategic project; % portfolio completeness. The extend in which all projects (below a certain threshold are registered): % portfolio completeness. The extend in which all projects (above a certain threshold are registered); % killed/stopped projects · Portfolio resources (% employees involved; % critical resources availability; % external PM dependency; % external specialist dependency; % budget coverage of Portfolio compliancy; % governance compliance; % projects with a