Portfolio Assessment of Project Management

Question: Discuss about thePortfolio Assessment of Project Management. Answer: For developing a project specification, a standard process is followed. Creating informal relations and formal approvals. Difficult tasks are chosen first. Sub tasks are indentified. Each tasks are defined. Not knowing when to stop working on Work break down structure, dealing with group dynamics while discussing the sequence of the tasks discussing the deliverables, Compiling the activities are some of the problems that occur while decomposition of work break down structure. Senior manager establishes, implements and assesses the management system, makes improvements and coordinates with project managers (Burke,2013). The executive manager translates the strategic goals and objectives to the employees. He designs, selects, monitors and reviews a project. Based on my personal experience, there are lots of interventions by the project sponsors one needs to coordinate with them for success of project. A project plan contains the scope statement, describing the scope of project, list of all deliverables with their respective due dates. Detailed schedule, uncertainty assessment and management plan (Kerzner,2015). Initial plan, reference plan, base plan, contingency plan, horizon plan and action plan are the different plans that a project manger develops. Project charter describes a project and the methods, steps involved. If I have plan I work that I according to my plan. SOW stands for statement of work, it is a statement that defines work. Project Configuration management is collection of tools and methods used in the project. Project management methodology is important for project planning, because it helps in evaluation of project for effectiveness. References Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. Kerzner, H. (2015).Project Management 2.0. John Wiley Sons.