Extending Project Processes and Knowledge Areas to the Multi-Project Portfolio Environment

Discussion: Extending Project Processes and Knowledge Areas to the Multi-Project Portfolio Environment The term project management process implies that projects can be managed and that a process exists for doing so. Project management processes and knowledge areas can be mastered with a great deal of dedication and perseverance. However, mastery is an ongoing progression that requires continuous improvement, learning, and refinement. This progression becomes even more complex when the project managers responsibilities are extended to selecting and managing a portfolio of projects. To prepare for this Discussion, review this weeks readings and consider the Process Groups and Knowledge Areas as defined by the Project Management Body of Knowledge (PMBOK) and discussed in your readings. How are the processes for managing a portfolio of projects similar to and different from managing individual projects? What additional competencies will a portfolio manager need? How should the Process Groups and Knowledge Areas be integrated into selecting and managing a portfolio of projects? By Day 3 Post an analysis of a process group or knowledge area application and the resulting opportunities for how a project portfolio manager can assist organizational leaders in selecting and managing a strategic portfolio of projects. In your assessment, do the following: First, select a Process Group or Knowledge Area. Second, find an organization in which the Process Group or Knowledge Area had a direct impact on the organizations success. Post a brief description of this organization, focusing on management and strategy rather than execution. Describe the organizations values and ideologies, and explain how the organization is enhanced by stressing these values and ideologies. Then, explain why you think this Process Group or Knowledge Area is important to the strategic environment of the organization. Be sure to support your work with a minimum of two specific citations from this weeks Learning Resources and at least one additional scholarly source.