Portfolio Managers will help their organizations in decision making. It is most important that they have strong financial and analytical skills and understand how projects and programs can contribute to meeting strategic goals (Schwalbe, 2014) Projects focuses more on strategic and tactical goals but portfolio management focuses more on strategic goals. As a project manager, for a successful project he/she should not only consider scope, schedule and cost as the important objectives but also the project manager should meet the needs of the project and should reach the satisfaction of the people involved in the project. As a portfolio manager, they should be aware of Project selection, Project scheduling and budget and should care about the …show more content…
In this real world, we have lot more projects to-do but the project manager should select the right project. The project manager should consider the categories which are Venture, Growth and core for selecting a project. Next, whenever we are doing a project first we need to have a good plan, time and budget. Sometimes, the flow of the project may fail in schedule planning or it may run out of budget so, the project manager needs to plan correctly and also need to estimate the budget required for the project because when the project is approved to work with then project manager should fix to the deadline and the budget for the completion of the project. So, scheduling the project is very important and often need to be checked whether the project is on schedule, on track, on budget or …show more content…
He/she can do multitasking but there will be delay in completion of the works allocated because the person cannot put concentration simultaneously on multiple tasks. The person can focus on one task at a time. So, the tasks get delayed for completion, according to the schedule provided there will be delay and also by the end of the day there will also be incomplete task among the allocated tasks. I as a project manager, would take the concept of prioritizing the tasks. I would give priorities to the tasks allocated to a person, according to the priorities I would tell the person to complete the task which is important and which is need to be done first so, that there will not be any burden or stress upon the person in completion of the task. If the tasks are not given priorities in the concept of multitasking, then there will be incomplete tasks as well there will be lot of burden and stress upon the individual. So to avoid such situations and to reduce the impact I would give priorities as mentioned in the
The project manager leads the project and provides vision, direction and encouragement. The project manager takes lead in project planning to determine the schedule and budgets neces-sary to meet the project objectives and is responsible for delivering the project once the pro-ject has been approved by senior management. The project manager is also responsible for the project support team.
Dr. Harry Markowitz was the establisher of Portfolio selection, he won a share of the 1990 Nobel Prize for his research of "Financial Economics". Dr. Harry Markowitz invested the Portfolio selection and released it in 1959, which was the fundamental stage of Modern Portfolio Theory. According to Dr. Harry Markowitz and his Portfolio selection the process of selecting a portfolio can be divided to two levels. The first level begins with the investigation and proof of the future progress of available assets. The second level begins with the relative believes for the future progress of the available assets and ends by choosing the portfolio. In order to choose the portfolio there are rules an investor have to follow. One of the rules is the one that the investor would have the maximum future expected gains of his capitalized asset value.
This assignment is concerned with your understanding of the key issues relative to portfolio analysis and investment. In completing this assignment you are to limit your scope to the US stock markets only. Use the Cybrary, the Internet, and course resources to write a 2-page essay which you will use with new clients of your financial planning business which addresses the following issues and/or practices:
“Our plans miscarry because they have no aim. When a man does not know what harbor he is making for, no wind is the right wind” a famous quote about our goal by Seneca. It is a metaphor about the achievement goal and objectives by good planning skills. One has to plan for what one wants to achieve and where one wants to go. One of the most important things is to have good planning, before taking any project the first think you should do is to create project plan. Planning can be defined as preparing a sequence of action to achieve specific goals and objectives. According to Kerzner (2009), “project planning is desirable that the project manager is involved from project conception through execution. It must be systematic, flexible to handle, closely disciplined through reviews and control and capable of accepting multi functional inputs (pg. 412)”. The importance of planning a project is to describe the work so that it will be easily identifiable to the project team member.
A project manager should be aware of the key challenges and threats an organization would face as well as he/she should have the skills to tackle the crises effectively and efficiently. In addition to that, a project manager should also be able to convey the thoughts and ideas in a convenient manner who is responsible to make a framework for an effective communication to ensure clear communication between the team members even though the style of communication would be different based on the situation.
“The Benefits of diversification are clear. Portfolio theory has played a crucial role in explaining the relationship between risk and return where more than one investment is held. It also enables us to identify optimal and efficient portfolios.”
The best way as project manager and his team it have full understanding on the objective of the project . Then , list them as per the critically of the and important . The sitting with the client to have an agreement on the objective of the scope of the project . As communication is critical its import to use the tool of cloud based to manage the communication in professional aspect . The will enable right engagement with teams .Moreover , this tool will improve the project management and structure the activities .Then , to finish the the project all the steps need to be mapped with time duration using gantt chart as an example. All the tasks must be listed down and have details documents as well . The project need to go thru risk assessment which considered as critical to have a success of any project. This risk management will make it much easier to project management . This should only done in room with all the teams involved in the project . Then need to have proper control on the risk and clear picture of how to avoid them . Next , is the tracking all the tasks as they might change by the time based on the requirement and needs. This will give earlier alarm in case the project may have delays . Capturing leanings to avoid duplicating the same mistakes in the future .One key players in project management is to have competent project manager and team .As per ( STRIKING PROJECT MANAGEMENT , Project Management Consulting ) 70% of projects fail because of lack of competency .
PPM or Prodect Portfolio Management is the consolidated administration of the methods, technologies, and processes utilised by individual product managers or the entire product management team for analyzing and cooperatively managing existing and/or future products depending on several key features and business requirements (Investopedia, 2017). The prime focuses of PPM are to figuring out the optimum mix of resources to best accomplish a business’ financial and operational targets, while taking care of the constraints imposed on the organisation by its strategic objectives, external business factors, and it customers. Barczak and Kahn (2012, p.295) defined PPM as the procedure that helps firms to distribute resources strategically between all the services and products it offers, recognize areas of possible advancement, evaluate the product mix for ensuring sustainability and profitability, and preserve the desired link between the company’s strategies and products. The
Project management is said to be completed within time when it completed within the “triple constraints”: cost, time and quality. And in a lot of causes, one them is sacrificed so as to meet the other two. Project managers prioritize which ones are the most important.
According to Investopedia (Asset Allocation Definition, 2013), asset allocation is an investment strategy that aims to balance risk and reward by distributing a portfolio’s assets according to an individual’s goals, risk tolerance and investment horizon. There are three main asset classes: equities, fixed-income, cash and cash equivalents; but they all have different levels of risk and return. A prudent investor should be careful in allocating each asset class to his portfolio. Proper asset allocation is a highly debatable subject and is not designed equally for everybody, but is rather based on the desires and needs of the individual investor. This paper discusses the importance of asset allocation, the differences and the proper diversification within the portfolio.
PMBOK guide defines TM as the “Use of available time and your own productivity along with the appropriate planning and management of the project schedule” highlighting the link between Time Management and productivity and its closely knit relationship to scope and cost areas. Max Wideman presents a wider definition for TM as the “function required to maintain appropriate allocation of time to the overall conduct of the project through the successive stages of its natural life-cycle, by means of the processes of time planning, time estimating, time scheduling, and schedule control.” Ultimately at it’s core however, TM is about time, its planning and control during all stages of the project. A further look into Wideman’s definition of TM by means of identifying its importance throughout the entire project life-cycle (Initiation, planning, execution, controlling and close-out) is required. It is hoped that by analysing how TM tools and techniques can positively and negatively effect the different stages of the Project life cycle a better understanding of productivity, TM and project success will result.
Project managers have to improve their skills every day to deal with the organizational change and especially the world’s Megatrends. However, it can be a challenge for a project manager to comprehend what skills they should be improved, what sections of project management knowledge that should be tried to perceive, and how to measure and enhance their performance.
Scheduling plays a vital role in the success of the project. Without scheduling, you do not know what is happening within the project and if you are on track for success or leading towards the pit for failure. Hence, lot of emphasize is given on scheduling of the project. It aids the project manager in multiple folds. It helps Project Manager manage the Cost of the Project, take decisions regarding the scope or time change within the project looking at all the activities scheduled. Scheduling also helps project manager to sync-up with higher management and provide a status update on the health of the project. A good schedule can eradicate the
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
Financial theories are the building blocks of today's corporate world. "The basic building blocks of finance theory lay the foundation for many modern tools used in areas such asset pricing and investment. Many of these theoretical concepts such as general equilibrium analysis, information economics and theory of contracts are firmly rooted in classical Microeconomics" (Oaktree, 2005)