Explain in your own words the strategic planning and portfolio management processes.

Reflection and Discussion Forum Week 2

Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.

Also, provide a graduate-level response to each of the following questions:

  1. Suppose you are purchasing a new car, and you decide to use a scoring model to decide among four options.  What would be your top three criteria and what would be each criteria’s relative weight?
  2. If you are a contractor looking for project work, why might you decide not to pursue a particular project opportunity?

[Your post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].

[Your post should be at least 500+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

[Your posting should

be completed by Thursday at 11:59 p.m. EST.]

Assigned Readings:

Chapter 2: Project Selection and Prioritization.

This chapter presents a broad introduction to project management.  After completing this chapter, each student should be able to perform the following:

Core Objectives

  1. Explain in your own words the strategic planning and portfolio management processes.
  2. Describe how to select, prioritize, and resource projects as an outgrowth of strategic planning.
  3. From a contractor’s viewpoint, describe how to secure projects.

Technical Objectives

  1. Compare the strengths and weaknesses of using financial and scoring models to select projects.
  2. Given organizational priorities and several projects, demonstrate how to select and prioritize projects using a scoring model.

Behavioral Objectives

  1. Explain the strengths an organization might possess that could improve its ability to perform projects.

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