Systems Thinking To Portfolio Management, CQ University, Australia
PPMP20012 Program And Portfolio Management Information Systems
Topic: Explain the relevance of systems thinking to PM.
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Question 1: Identify different systems thinking tools and techniques to aid project managers solve project problems.
Answer: Some of the kinds of system thinking programs or tools which aid managers of a project in solving various problems of the project include: effective analysis, graphical analysis, decision matrix, and affinity diagrams.
Affinity diagram: It is known as the simplest tool of system thinking winch helps the project team in performing various activities such as the development of ideas which are innovative in problem solving as well as organisation of the ideas in assemblies which are quite meaningful.
Decision Matrix: It is primarily utilized in events where there is the possibility of reduction of the options down to either two or three if the available options are too many.
Graphical analysis: It is involves the identification and comprehension the systems data via representing it in forms of graphs or charts. It done majorly into ways; plot of time series and plotting of frequency.
Question 2: Assess the relevance of systems engineering to project cases.
Answer: It is important to note that, system engineering is capable of reducing the risks as well as improvement of performance technically of the overall project. This kind of improvement technically is important in prioritization of the processes of system engineering. In addition, it has previous research had shown great relationship which exist between the systems engineering practices and project performance.
The two most important processes are the plan for the project management as well as the plan for systems engineering. The aid in the description of the process types as well as the methods which will aid the project in delivering the services as well as the products successfully. The greatest difference which exists between these two planning ways that the plan for project management is the main strategy for planning for the project development which explores various forms of activities of the project while the plan for system engineering is the main strategy of planning which involves development of essentials which are technical for systems engineering.
Question 3: Describe how systems engineering concepts and methodologies can help a project, program and portfolio managers organise a project.
Answer: Systems engineering is a tool which is of great importance in realization of systems which are successful. The primary of systems engineering is to make sure that all the requirements presented by the customer are met. The major disciplines of this tool are inclusive of; operations, performance, production, and scheduling. It is well known for being considerable of both the technical as well as business needs of the customers; this ensures that services as well as products coming out of the project are of high quality. System engineering helps project managers organize the project via the definition of the project scope as well as reviewing the projects of the plan of the project in conjunction with the application of the management plan of the systems engineering. This has been justified by previous researches on how concept models of system engineering as well as methods aid managers of portfolio and project in the organizing the project.
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Question 4: Explain the importance of appropriate selection of project management (PM) application systems in regards to meeting the internal and external objectives of a project.
Answer: It is important to have the right applications systems for project management. This because the project is the champion for the entire project. He is the key in providing the project vision to the members of the team as well as keeping their concentration in same focus. He is the person who will praise for the success of the project or discredited for project failing to succeed. The right selection of these application systems will enable the project to meeting the internal objectives as well as the external objectives which are inclusive of providing quality services as well as products to the customers. If the right application systems are not applied in the project it will lead to failure of the project. It recommended to the manager of the project to have wide consultation in order to have the right applications in place prior the initiation of the project.
Question 5: Describe how the use of project management (PM) application systems can lead to effective PM knowledge management and decision making.
Answer: The management project application systems creates processes which lead to creation of assets of knowledge in determination of the crucial work as well as objectives of the project, assessment of the areas of the project which may be vulnerable. Due the available assets of knowledge created by applications fo project management, the manager of the project can determine the loss of any expertise might occur, evaluation of obstacles as well as barriers to the project. This intellectual knowledge can lead to formation of ideas, learning base for the team members, insights, and technical skills which might be important for the success of the project. Through these application systems it enables to have project management which is effective and therefore, the project manager will be able to make critical decisions which will have positive outcome of the final results of the project.
Question 6: Compare and contrast the advantages and disadvantages of different manual and electronic project, program and portfolio (PPPM) application systems within each PPPM knowledge area over the life cycle of a project, program or portfolio.
Answer: It is import to note that both electronic systems as well as manual systems perform almost similar form of operations while the mechanics which are applied by both systems different at some extend. Speed can be considered as the primary differentiating factor for electronic and manual systems. It is important to note that, accessibility of data or information in the electronic systems is faster than in the manual systems. Calculations can be done more efficiently in the electronic systems than it when done in the manual systems.
Another factor which can be put I consideration when differentiating manual and electronic systems is cost. Despite the electronic systems having done a major stride in reducing the costs due to advancement of technology, manual systems remain to be cheaper than the electronic systems. Additionally, the higher costs of electronic systems can be attributed to the acquisition costs of the assembling all the materials required for the whole system.
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Question 7: Identify how project, program and portfolio (PPPM) application systems can assist project managers to monitor performance and manage changes within a project.
Answer: The managers of the project in a particular organisation are tasked with the development of the systems as well as being held accountable for the tams assembling of the project, management of the schedules of the project, and resource management to ensure the project is completed successfully. The roles of the manager of the project need him or her to have knowledge in regards to the languages if programming as well as development of particular techniques as well as tools.
In the process of development of the project, the PPPM tools are used in the suggestion of the required resources for the project. They are used in the engagement of the members of the team and assignment of the required resources in order to develop and tasks related in measuring the ability of every team member. Therefore, PPPM systems are quite essential in the management of all the aspects of the development of the project.
Question 8: Propose appropriate project, program and portfolio (PPPM) application systems to support successful project, program and portfolio execution in different industry domains.
Answer: I order for the project to be successful, there is the need to have application systems which support, and enable execution of the portfolio of various domains of different industry. With the right application systems will ensure that there is adequate support of the project and successful execution of the portfolio of the project will be realized. Some of the tools and systems which can be applied are inclusive of Monday.com and Clarizen.
Monday.com is quite essential in synchronizing the data to the members of the team and essential in the process of making decisions. Clarizen is a tool when the project require real-time execution and in the management of the portfolios. It is used in project which is related to management of the social factors. Therefore, through utilization of these systems, it will ensure that the project is well support and the execution of the portfolios of the project is done successfully.
Question 9: Discuss contemporary developments in the use of project, program and portfolio (PPPM) application systems.
Answer: In the area of program, portfolio, and project technology of application systems it one of the considered right mixture of ideas revolution acting as various techniques in all sorts of project development. The role of these application systems is to improve the performance and success development of the projects. These methods have been discussed below.
One of the current and present development sin these application systems is the scrum development. This method is applied when the project need regular and quick updates. It helps in decision making for the project managers. Another development is the method of lean. This method is used in projects which have less resources and budget cuts. Helps in delivering of services and products in a quick manner. The other development is the method which is driven by future needs. This method provides support to the management team of the projects.
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