QuestionQuestion

For an organization of which you are part, or one which with you are familiar, or one sourced from the Internet, you are asked to examine the introduction of a project portfolio management function in order to improve the organization’s strategic advantage, project success and achieve its sustainability goals. Prior to developing the plan for the introduction of the project portfolio management function, you are asked by Executive Management to consider the way the organization currently manages its project portfolio and then address the following requirements:
Situational Context and Evaluation
How the organisation is likely to view the introduction of portfolio management given its size and project needs?
How the organization currently manages its projects and is there scope for improvement?
How the organization incorporates sustainability criteria into its business decision-making process and its operations, including social equity, economic efficiency, and environmental performance? Is there scope for improvement and how might this be achieved?
Opportunities and Threats
The likely successes that the organization might experience by introducing a project portfolio management process.
The likely challenges the organization might face with the adoption of the project portfolio management process and how would these challenges be overcome?
Development of the Plan
What would be the key elements of a plan to introduce project portfolio management into the organization and how would it impact the strategic goals?
What type of project portfolio management model would you propose for the organization and why?
How would you plan to implement project portfolio management into the organization?
Tools and Techniques
What tools/techniques are available for managing different types of project portfolios and which ones would you propose for the organization and why?
In considering these requirements, be mindful of the benefits of project portfolio management but draw comparisons and highlight specific cases where any shift by the organization towards project portfolio management may have both positive and/or negative impacts.

Solution PreviewSolution Preview

These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.

Introduction
Project portfolio management is an increasingly vital ingredient to business success in the modern world of competitive business, regardless of the sector. Often abbreviated as PPM, Project Portfolio Management defines a process that project managers along with project management firms deploy to evaluate the likely return on undertaking an initiative. PPM usually delivers a series of invaluable benefits to an entity, including enhanced organizational strategic advantage, project excellence, and the achievement of sustainability goals. This paper seeks to create a plan for introducing PPM function at Shell Petroleum Company. However, before developing this plan, the paper will assess and evaluate the situational context of the Shell Petroleum Company and establish the opportunities and threats associated with introducing the PPM function. This study takes the standpoint that implementing PPM at the firm will assist Shell Petroleum Company to become a model company in every aspect, including sustainability.
Situational context and evaluation
Shell Petroleum Company is likely to embrace PPM given its size and project needs. As supposed by Bigliani, Nicholson, and Gallotti (2012), Shell is a company with the largest project expenditure in the oil and gas industry. In 2012, the company had a capital budget of $30 billion. At least 80% of this budget was allocated to upstream operations while the rest went to upstream and integrated gas activities. According to the Shell Annual Report of 2018, the upstream organization usually covers three paramount strategic themes, which include conventional oil and gas, deep water and shales (Shell, 2019). The organization usually manages the survey for and mining of natural gas liquids and crude oil. The upstream organization markets and distributes gas and oil, besides operating infrastructure for delivering them to the market. The downstream organization comprises two strategic themes, which include chemicals and oil products (Shell, 2019).
The organization manages a diverse array of chemicals and oil products as part of a combined value delivery chain and other feedstocks into a broad array of products that are distributed and promoted across the world for industrial, domestic, and transport use. The integrated gas business often manages liquified natural gas activities/projects and the change of natural gas into gas-to-liquid fuels not mentioning other many products (Shell, 2019). Based on this context, it is undeniable that Shell’s size is exceedingly big. Besides, given that each business unit manages distinctively many activities, it is vivid that the company’s...

By purchasing this solution you'll be able to access the following files:
Solution.docx.

$75.00
for this solution

or FREE if you
register a new account!

PayPal, G Pay, ApplePay, Amazon Pay, and all major credit cards accepted.

Find A Tutor

View available Project Management Tutors

Get College Homework Help.

Are you sure you don't want to upload any files?

Fast tutor response requires as much info as possible.

Decision:
Upload a file
Continue without uploading

SUBMIT YOUR HOMEWORK
We couldn't find that subject.
Please select the best match from the list below.

We'll send you an email right away. If it's not in your inbox, check your spam folder.

  • 1
  • 2
  • 3
Live Chats