...Assignment 3: Information Governance S. Crew Professor: DR. Griffin Date: November 22, 2012 2 Assignment 3: Information Governance 1. Analyze the primary causes of information management / information technology project failures and recommend at least three (3) best practices that could be adopted by any organization to avoid such failure in the future. According to our text (Glandon, Smaltz & Slovensky 2008) “the single greatest cause of project failure is poor executing”. Other primary causes of information management / information technology project failure include; “Poor planning” “Unclean goals and objectives” “Objective changes during project” “Unrealistic times or resource estimate” “Lack of executive support and user involvement” “Failure to communicate and act as a team” “Inappropriate skill” (Neimat & Taimor). Three best practices that I recommend that could be adopted by any organization to avoid such failures in the future include; 1) Organizations should “Plan the work by utilizing a “Project Definition Document”; this encompasses a definition of all details of the project; it also is the staple for the project to be performed (Mochal, 2009) 2) Organizations should “Create a Planning Horizon”; which encompasses developing the project plan after instituting the project definition, which also constitutes step by step procedures for developing the project and overseeing the project (Mochal, 2009). 3) Organizations...
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...guidelines to select and manage its project management portfolio within the company. It will stand as a reference for executives to follow during the project selection process which is driven by company objectives. The criteria set forth in this document will assess each individual project and rate it according to the standardized evaluation scale. This will further contribute to the decision making process for Siemens internal Project Management Organization team. A brief description of the industry and the key aspects of the environment of that industry: Siemens Industry, Inc. currently has over 400,000 employees worldwide to develop and manufacture products, design and install complex systems, and tailor a wide range of solutions for individual requirements. The company started with the invention of the telegraph and continued to grow and diversity their product line with the production of alternators, electric trains, light bulbs, computers, and washing machines to name a few. Siemens has always stood for technical achievements, innovation, quality, and reliability. They have been synonymous with international focus and worldwide presence for over 160 years. With its U.S. corporate headquarters in Washington, DC, Siemens in the USA reported sales of $19.9 billion and employs more than 60,000 people throughout all 50 states and Puerto Rico. They continue to be one of the most innovative companies in the world. Today, Siemens is a technology giant with presence in more than...
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...Return on Investment Analysis for E-business Projects Mark Jeffery, Northwestern University Introduction The Information Paradox Review of Basic Finance The Time Value of Money ROI, Internal Rate of Return (IRR), and Payback Period Calculating ROI for an E-business Project Base Case Incorporating the E-business Project Incremental Cash Flows and IRR Uncertainty, Risk, and ROI Uncertainty Sensitivity Analysis 1 2 4 4 6 6 7 8 10 11 11 11 Project and Technology Risks Monte Carlo Analysis Applied to ROI Executive Insights The Important Questions to Ask When Reviewing an ROI Analysis A Framework for Synchronizing e-Business Investments With Corporate Strategy Beyond ROI: Trends for the Future Acknowledgments Glossary Cross References References 12 13 14 14 14 16 17 17 17 17 INTRODUCTION As the late 1990s came to a close, many companies had invested heavily in Internet, e-business, and information technology. As the technology bubble burst in 2000 many executives were asking “Where is the return on investment?” When capital to invest is scarce new e-business and information technology (IT) projects must show a good return on investment (ROI) in order to be funded. This chapter will give the reader the key concepts necessary to understand and calculate ROI for e-business and IT projects. In addition, the limitations of calculating ROI, best practices for incorporating uncertainty and risk into ROI analysis, and the role ROI plays in synchronizing IT investments with corporate strategy...
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...Course Project Epsilon: Portfolio Management Plan Instructor: Stanley Mefford Oct 24, 2012 Table of Contents Introduction 3 Epsilon’s Strategic Plan 3 Strategic Capacity Plan 4 Portfolio Management Process 6 Project Selection Criteria 7 Program Management Plan 8 Quality 9 Scope 10 Internal Teams 10 External Teams 11 Scheduling 11 Conflict Resolution Plan 12 Change Management Plan 13 Resource Utilization 15 Conclusion 16 Resources 17 Introduction Deploying over 40 billion emails annually, Epsilon is ranked as the top database marketing services provider and is the world’s leading multi-channel marketing and technology organization (Palmer, 2012). Epsilon works with over 2,000 global clients that represent industries across many markets including financial services, customer packaged goods, retail, travel and pharmaceutical markets. Some of Epsilon’s service offerings include: database technology, email services, and reporting/analytics. As a leader in the market, an impressive 26 of the Fortune 100 companies trust them to provide marketing services (Epsilon, 2012). Since 2009, Epsilon had been experiencing unprecedented growth. In 2011, Direct Marketing News reported that Epsilon’s 2010 global revenues increased 19% as compared to the previous year and was expected to double its revenues (Gordon & Washkuck, 2011). From the outside, forecasts couldn’t be brighter for the company. Internally, however, it was a different story...
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...sciencedirect.com International Journal of Project Management 30 (2012) 608 – 620 www.elsevier.com/locate/ijproman The three roles of a project portfolio management office: Their impact on portfolio management execution and success Barbara Natalie Unger a,⁎, Hans Georg Gemünden a , Monique Aubry a b b Technische Universität Berlin, Chair for Technology and Innovation Management, Straße des 17. Juni 135, Sekr. H71, 10623 Berlin, Germany Université du Québec à Montréal, School of Business and Management, P.O. Box 8888 Downtown Station, Montreal, Quebec, Canada H3C 3P8 Received 27 July 2011; received in revised form 29 November 2011; accepted 26 January 2012 Abstract Project portfolio management offices (PPMOs) are a subset of project management offices (PMOs) that handle collections of multiple single projects and programmes, i.e. portfolios. PPMOs are centralised organisational units that cater to the demands of various stakeholders by performing specialised tasks. They are initiated by their organisation's leadership in response to increasing management challenges originating from project portfolios. Although there has been considerable research on PMOs in general, not only a clear understanding of multi-project PMOs' activity patterns set in specific contexts like project portfolio management, but also both existence and mode of multi-project PMOs' contribution to successful performance are still lacking. By quantitatively analysing PPMOs in 278 portfolios, we identify three different activity...
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...Tesla Motors Portfolio, Program and Project Management Course Project Contents Introduction 3 Organization’s Strategic Plan 3 Organization Strategic Capacity Plan 4 Portfolio Management Process 8 Project Selection Process 15 Program Management Plan 17 Risk Management Plan 20 Change Management 21 Resource Utilization Plan 24 Personnel 24 Production Line 25 Inventory 25 Charts and Graphs 26 Organizational Influence Chart 26 Project Selection Process Flowchart 27 Conclusion 27 Reference: 29 Introduction Tesla Motors designs and manufactures the most advanced electric vehicles and electric power trains in the world. Tesla Motors do not compromise on innovation, performance, or appeal. Nor does Tesla Motors compromise commitment to hiring and developing the best from around the world. Tesla Motors work in small, focused teams, which much like our products are agile, efficient, and focused on excellence. Tesla Motors are driven by work that contributes to a global impact and are passionate about our future in the automotive industry. The pace is fast, the work is stimulating, structure is limited, and innovation is expected. Tesla Motors is headquartered in Palo Alto, California, runs satellite offices in Los Angeles and Maidenhead, UK, and operates retail locations around the world. Whatever location you choose, you'll be surrounded by the best of the best, working together to impact the future of transportation. Tesla Motors is committed...
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...International Journal of Project Management 30 (2012) 608 – 620 www.elsevier.com/locate/ijproman The three roles of a project portfolio management office: Their impact on portfolio management execution and success Barbara Natalie Unger a,⁎, Hans Georg Gemünden a , Monique Aubry b a b Technische Universität Berlin, Chair for Technology and Innovation Management, Straße des 17. Juni 135, Sekr. H71, 10623 Berlin, Germany Université du Québec à Montréal, School of Business and Management, P.O. Box 8888 Downtown Station, Montreal, Quebec, Canada H3C 3P8 Received 27 July 2011; received in revised form 29 November 2011; accepted 26 January 2012 Abstract Project portfolio management offices (PPMOs) are a subset of project management offices (PMOs) that handle collections of multiple single projects and programmes, i.e. portfolios. PPMOs are centralised organisational units that cater to the demands of various stakeholders by performing specialised tasks. They are initiated by their organisation's leadership in response to increasing management challenges originating from project portfolios. Although there has been considerable research on PMOs in general, not only a clear understanding of multi-project PMOs' activity patterns set in specific contexts like project portfolio management, but also both existence and mode of multi-project PMOs' contribution to successful performance are still lacking. By quantitatively analysing PPMOs in 278 portfolios, we identify three different...
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...currently have over 200,000 employees around the world. For many years AT&T has been ahead of their competitors. The innovation of their products and services assisted them in increasing their market share within the industry. Over the last couple of years, the competition has introduced several products and services that have challenged AT&T’s market share. And as we look towards the future we willingly accept that there is always room for improvement. Problem Statement We are focused on being the number one carrier in the United States and as we expand our 4g network we have discovered an issue in our quality measurements. We do not have an automated way to handle fall-out. Our current process is manual and tedious. We have a project manager that is manually handling fifty orders a day. She is downloading a report, emailing and setting up calls with the appropriated organizations to quickly resolve and expedite an order. This process is not scalable or sustainable long term. We have to incorporate an automated IT solution that will...
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...IMPLEMENTING PORTFOLIO AND PROJECT MANAGEMENT SYSTEMS IMPLEMENTING PORTFOLIO AND PROJECT MANAGEMENT SYSTEMS In the recent years organizations with variety of projects require complete management therefore, project and portfolio management is one of the most discussed topics in the area of project management. Portfolio and project management (PPM) system is a tool that assists in managing projects. Project portfolio management is focused on aligning projects with the organizational strategies that will enable them to grow profitability. The following information examines the usefulness of a PPM system, and shows the impact of utilizing it at organizational level. It will point out the effective approach for PPM implementation. Our department lacks a single system of records. Instead we rely on spreadsheets, Microsoft Project plans, and unrelated systems, resulting in significant efforts to produce reports and differing views on the status of project commitments. To manage a project manually is feasible, but impractical for an organization that needs the capability to manage multiple projects, programs, assets, resources, and to produce different reports, track financials, etc. In order to do things more efficiently there is a need for automation. In the current business environment more valuable and highly recognized by the customers are organizations with a centrally managed PPM system. It helps streamline and enhance project execution while at the same IT brings...
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...Management Control of Project Portfolio Uncertainty: A Managerial Role Perspective Tuomas Korhonen, Cost Management Center (CMC), Department of Industrial Management, Tampere University of Technology, Tampere, Finland Teemu Laine, Cost Management Center (CMC), Department of Industrial Management, Tampere University of Technology, Tampere, Finland Miia Martinsuo, Department of Industrial Management, Tampere University of Technology, Tampere, Finland PAPERS ABSTRACT ■ This article presents empirical results on different managers’ viewpoints regarding the sources and management of project portfolio uncertainty. As a key result, this study demonstrates the versatility of uncertainties experienced by managers, the limited degree of perceived control over them, the use of an almost complete management control package in managing uncertainties, and the necessity of managers’ cooperation in the skilled use of the management control package when managing uncertainties. In addition, a further research agenda is proposed. KEYWORDS: project portfolio management; uncertainty; managerial roles; management control systems; product development INTRODUCTION ■ n their product development, large companies have adopted project portfolio management (PPM) as a means for prioritizing and selecting product development projects among various options as well as allocating resources with the value maximization, balance, and strategic alignment of the portfolio in mind (Cooper, Edgett, & Kleinschmidt...
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...Project Portfolio Management Project Portfolio Management is a methodology to manage a company’s projects in a similar way that financial manager manages the company’s cash flow and related finances. According to Rouse (2013), “PPM (project and portfolio management) is a strategic prioritization methodology employed to analyze and manage current or proposed projects within an organization”. The purpose is to determine the best available sequence and group of projects to achieve organizational strategic objectives from concept to conclusion. Project Portfolio Management aims to align the projects, investments and resources with organizational priorities. Project Portfolio Management is a continuous process which comprises of project data collection, evaluation of each project, optimizing the performance of projects in portfolio and resources of company and execution of portfolio work. Companies have deployed project portfolio management solutions for establishing efficient processes to advantage of their IT infrastructure for achieving organizational objectives. Perry and Hatcher (2003) identified four categories as Ad hoc, structured, standardized and optimized on the basis of maturation level of IT. According to them, majority of organization had adopted Project Portfolio Management on ad hoc basis rather than a continuous process. Ad hoc is the level when use of IT, other resources and project priorities are not aligned with organizational objectives. In this stage, the organization...
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...CHAPTER 1 INTRODUCTION TO PROJECT MANAGEMENT LEARNING OBJECTIVES After reading this chapter, you will be able to: • Understand the growing need for better project management, especially for information technology projects • Explain what a project is, provide examples of information technology projects, list various attributes of projects, and describe the triple constraint of project management • Describe project management and discuss key elements of the project management framework, including project stakeholders, the project management knowledge areas, common tools and techniques, and project success • Discuss the relationship between project, program, and portfolio management and the contributions they each make to enterprise success • Understand the role of the project manager by describing what project managers do, what skills they need, and what the career field is like for information technology project managers • Describe the project management profession, including its history, the role of professional organizations like the Project Management Institute (PMI), the importance of certification and ethics, and the advancement of project management software 2 OPENING CASE Anne Roberts, the Director of the Project Management Office for a large retail chain, stood in front of 500 people in the large corporate auditorium to explain the company’s new strategies. She was also broadcasting to thousands of other...
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...Chapter 1: Introduction to Project Management TRUE/FALSE 1. Until the 1980s, project management primarily focused on providing schedule and resource data to top management in the military, computer, and construction industries. ANS: T Until the 1980s, project management primarily focused on providing schedule and resource data to top management in the military, computer, and construction industries. Today’s project management involves much more, and people in every industry and every country manage projects. PTS: 1 DIF: Difficulty: Easy REF: p.2 OBJ: LO: 1-1 NAT: BUSPROG: Technology TOP: Introduction KEY: Bloom's: Knowledge 2. A difference between operations and projects is that operations end when their objectives have been reached, whereas projects do not. ANS: F Projects are different from operations in that they end when their objectives have been reached or the project has been terminated. PTS: 1 DIF: Difficulty: Moderate REF: p.4 OBJ: LO: 1-2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Comprehension 3. Every project should have a well-defined objective. ANS: T A project has a unique purpose. Every project should have a well-defined objective. PTS: 1 DIF: Difficulty: Easy REF: p.6 OBJ: LO: 1-2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Knowledge 4. Projects should be developed in increments. ANS: T A project is developed using progressive elaboration. Projects are often defined broadly...
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...Memo To: Senior Management From: Portfolio Management Team Date: September 27, 2011 Re: SBU Proposal Industry Background Ford Motors Corporation was started by Henry Ford. Born in Wayne County, Michigan, in an area that later became Dearborn, on July 30, 1863, Henry Ford was the oldest of six children. In April 1888, Ford married Clara Bryant, a local girl and the foster child of—like Henry—Irish immigrant farmers. In 1893, his only child, Edsel, was born. Success soon came to him as he took a position in 1891 as an engineer at the Edison Illuminating Company and fairly quickly climbed the ranks. With his love for the outdoors and rural values, Ford might have easily remained in agriculture but something even stronger pulled at Ford’s imagination: mechanics, machinery, and understanding how things worked and what new possibilities lay in store. In the 1980’s, he focused particularly on internal combustion engines. Henry Ford called his first vehicle the Quadricycle. It attracted enough financial backing for Ford to leave his engineer position at Edison Illuminating and helped found the Detroit Automobile Company in 1899. The company faltered for a variety of reasons, and in 1901 Ford left to pursue his own work again. Later that year, the Henry Ford Company was born, but Henry Ford himself stayed with it only a few months. He left in early 1902 to devote more time to refining his vehicles. Ford recognized that with the right techniques, cars could be made affordable...
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... 1999 Providian Trust: Tradition and Technology (A) A New CEO Within two weeks of accepting the position of CEO of Providian Trust Company, Stephen Walsh, a lawyer by training, faced an unusual corporate conflict and he would have to play the role of judge. There was an extraordinary difference of opinion between Providian Trust’s internal auditor, Peter Storey, and the leaders of a major information technology (IT) project in the trust division. “Peter’s extremely vocal point ran to the issue of documentation, that it was incomplete and should be brought up to speed,” explained Walsh. The conflict reached a climax during an Audit Committee meeting on May 13, 1995, when members of the committee, who were all on the Providian Trust board of directors, expressed to Walsh that they had lost confidence in the internal auditor and recommended that the external auditor, Steinman & Smith, do an analysis of the project documentation prior to implementation. The purpose of the project was to convert the trust division’s outdated information system into a more efficient system using Access Plus, new trust and custody management software made by Select One. The project had been initiated in 1993 under a former CEO, who had been dismissed by the board, and had continued under an interim CEO. By the time Walsh arrived on the scene, over two-thirds of the $18 million budget had been invested in the implementation of the IT project and Providian Trust had built up expectations...
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