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Cpmgt 301 Project Management

In: Business and Management

Submitted By sfvincent
Words 356
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Project Managment Summary
Stacy F. Vincent
December 22, 2014
Dr. Jeff Atkinson

Project Management Summary
Project Management, the process by which all components of a project are brought together, moving toward the end result of a successful endeavor. From inception; planning, organizing, resource management and the implementing of policy and procedures, the project manager is responsible for the entire process.
Strategic Portfolio Management is the necessary prioritization methodology (Rouse 2012) actively engaged in managing the resources; budgetary, human, etc. in concert with any other component involved in the complete scope of a project. This component may oversee several different projects within an organization, moving them forward based on the company’s needs.
Project Managers are responsible for the scope of the entire project, including the portfolio and program management outcome; however these all must work in concert to have a successful completion to all projects.
Portfolio management (managers) can oversee several different projects concurrently, ensuring the necessary resources are available within the scope of the organization’s needs. Project managers, operating under the authority of their position, utilize the information compiled and made available by portfolio management. It is important to note that not all programs have end dates, such as a project may, and those program resources will require ongoing evaluation as budgets change and resources (funding sources) may/will need to be adjusted on a regular basis, hence the need of strategic portfolio management.
Dealing with the human component is very possibly the most volatile element of the project management – strategic portfolio process. Professional job descriptions need to be clearly established, indicating individual assignments as to avoid overlapping of...

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