Introduction

“Verizon Communications, Inc. is a full service telecommunications company based in New York City and incorporated in Delaware. It was formed on June 30, 2000 with the merger between Bell Atlantic Corp. and GTE Corp” (History of Verizon Wireless). Verizon currently stands as a global leader in in today’s society by its commitment to customer satisfaction and highly innovative technology. Its products and services provide the most convenient and technologically- advanced solutions for its customers by providing both broadband and wireline communications services to a large market, with services expanding to more than 150 countries.

Verizon strives to continue as an industry leader by continuously perfecting its products and services to meet the changing needs of its customer base. To guarantee success, Verizon required a solid process for ensuring successful execution of business objectives in planning for advancement of their technology. In turn, Verizon created an exceptional PMO by including best practices used since 2006. The PMO aims to be financially efficient in an effort to support strategies for the organization.
The purpose of this paper is to create a portfolio management plan for Verizon that shows how its organizational strategy and project alignment has contributed to Verizon’s success in becoming a “top performer” in its industry.

Portfolio Management Process

Project Portfolio Management (PPM) allows a company to choose the right set of projects that align with the company strategy at the right time. Its purpose is to effectively execute company strategy and, in turn, maximize the overall value of the organization by appropriately managing the projects in the portfolio. PPM also allows program managers to select, review and prioritize projects in the portfolio as well as properly allocate limited resources in an