Question.2292 - Aligning a Theory to Multiple Project Practice To understand the underlying conditions and motivation of practices, the theory must be aligned. For example, there is a root cause for the sometimes complex nature of managing multiple projects and project portfolios. Furthermore, theories allow the reader to decipher hard to manage dilemmas, hence pivoting a solution. For example, Barbosa and Rodrigues (2020), explained that project portfolio management includes complex processes that involve, such as “identifying, prioritizing, authorizing, managing and controlling the component projects and programs and the associated risks, and resources and priorities” (p. 1). Based on this compilation of activities, theories must be used to explain something as simple as allocating the right person to manage projects, while iteratively supporting the strategic plan. Last, theories help the project manager conceptualize the completion of the task within a project, while potentially eliminating errors, and managing the project within time, scope, and budget. Reference Barbosa, M. W., & de Ávila Rodrigues, C. (2020). Project portfolio management teaching: Contributions of a gamified approach. The International Journal of Management Education, 18(2). Weekly Resources and Assignments Review the resources from the Course Resources link, located in the top navigation bar, to prepare for this week’s assignments. The resources may include textbook reading assignments, journal articles, websites, links to tools or software, videos, handouts, rubrics, etc. 0 % 0 of 1 topics complete Week 8 1 5/26/23, 1:16 PM Week 6 - PM-7012 v4: Multiple Project Management (2661047920) https://ncuone.ncu.edu/d2l/le/content/283020/Home 3/3 You are expected to research various theoretical frameworks related to multiple project management or project portfolio practice. Furthermore, you are to present underlying conditions of managing multiple projects or a project portfolio from a stakeholder, customer, community, and/or other contextual environmental perspectives. The entire literature review will include up to three theoretical frameworks that are indirectly or directly applicable to three types of actors for multiple project practices. For example, some selected theories may address the role of project manager, stakeholder, and/or team when addressing multiple projects or project portfolio management practices. Length: a 5 to 7-page Literature Review Article References: Include a minimum of 3 scholarly resources. The completed assignment should address all of the assignment requirements, exhibit evidence of concept knowledge, and demonstrate thoughtful consideration of the content presented in the course. The writing should integrate scholarly resources, reflect academic expectations and current APA standards, and adhere to Northcentral University's Academic Integrity Policy.
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INTRODUCTION The assignment is based on multiple project management or project portfolio practices, challenges in managing multiple projects, and theoretical frameworks related to them. It represents the underlying conditions of managing multiple projects from a stakeholder, customer, community, and other environmental perspective. It consists of theoretical frameworks that are directly or indirectly applicable to three types of actors for multiple project practices. Selected theories address the role of the project manager, stakeholder, and team when addressing multiple projects. This assignment addresses all of the requirements, exhibits evidence of concept knowledge, and demonstrates thoughtful consideration of content present in the course. DISCUSSION Multiple Project management or project portfolio practice- Multiple Project management refers to applications and project portfolios. In multi- project management programs, the project managers have to manage many projects at a particular time. The project includes a group of complementary projects and the project portfolio includes all the projects and programs of a Cooperation (Younus, D. A. M., & Younis, 2021). Project management coexists with several techniques to manage programs. Multiple project management can help to reach goals by directing competency planning, task order, and resource sharing. Multi Project is a challenge that needs project managers, program managers, and project management offices to pay high concentration to Resource management, time tracking, competency planning, project arrangement, project designing, and team handling. 3 Theoretical frameworks related to multiple project management Project portfolio Management Theory-An organization applies strategies through portfolio management in Business functions. This ensures that managed programs add value to organizations in terms of capability and responsibility. The vital components of portfolio management include supporting the plan’s objective, value creation and concerning projects according to their importance, managing benefits, and joining stakeholders around business objectives. In multiple project management, several projects are managed as a group, which is tended as a set of activities that balance risk and returns. Project portfolio management is based on some early theories for portfolio selection in finances and investments. Resource-Based View - the resource-based view theory is used by managers in project management. It inspects how resources operate competitive advantage, and project management capacities that improve organizational environment and development with respect to time. This theoretical framework assists the project manager in effectively allocating the resources and capabilities which eventually helps the organization in gaining a competitive advantage. In case of handling multiple projects, it is important to allocate resources effectively and RBV theory helps in leveraging the resources so that maximum outcome can be received. Multiple projects are managed together which assists in increasing organizational performance (Dubey et al., 2019). Contingency theory- the theory based on the idea that the role of a project manager is to develop the best possible arrangement between organizations, their environment, and systems. It provides flexibility in choice for success in an unconditional environment. For Example, if a manager is facing a situation where his employee is always late for work, the manager could write an agreement for the situation which has only one option to 4 give notice to the employee. Under the Contingency view, the manager may decide to understand the situation and talk to the employee and then decide the most effective action. The value in this lies in the information the manager gains about the employee, maybe there are justifying conditions that can be easy to work around. In this situation, the Contingency theory helps the employee to keep their job and helps the manager from overcoming troubles to dismiss the employee (Safari & Saleh, 2021). How theoretical framework help to manage multiple project Theoretical frameworks help to manage multiple projects in several ways. The major is discussed below It provides consistency - To manage multiple projects at a particular time, consistency is important. The theoretical framework imparts consistency to project planning and implementation. It checks detailed planning and approach. Consistency helps to bring clarity and accuracy. Clarity- Framework ls explains the future of the project to everyone involved in the project. This leads to no confusion and provides clarity for the project to progress according to plan. As team members already know how to work at different stages, the final result is much more improved. Collaboration-The framework involves all the stakeholders in the project at the beginning of the project till it reaches the final stage. This encourages Cooperation between members of the team and stakeholders. This helps to finish the project on time and also improves the quality of the end product. Continuity-As everything is defined and planned, the project management framework is about efficiency and continuation. By planning the project can move smoothly from start to end point. It improves the learning tendency of new members of the project team and improves the knowledge of experienced members. 5 Communication - A project involves the project manager, the team, and the stakeholders. So, communication remains open among them. Different stages of project management involve a of them to work with one another and determine the purpose of the project. The higher the communication among stakeholders the faster the project moves. Challenges in managing multiple projects To manage several projects at a time, the project manager has to face challenges. Some common challenges are discussed below- Priority clash-While handling a single project, a person has to handle confusions, solve problems, and face challenges that are quite difficult. It gets much more difficult while handling many projects at a single time. For example, a person is handling three projects at a single time and all projects should be done by the same date. But due to some reasons, he was unable to complete all projects on time. For the next few days, he is able to focus on only one particular project so he can decide which project needs to be completed first. It's the most common problem faced while doing many projects at a time. Resources intersection-A common challenge of multi-project management is resources intersection. That is, not being able to do all the work due to time shortage, money, and techniques. For example, if a person is managing two projects assigned to the same client and each project needs 42 hours per week's value of work on a particular Resource. In total, the workers have to work 80 hours per week which is difficult to manage. Struggling with deadlines- dealing with multiple projects due on the same date, the person has to struggle to meet deadlines. Excess information-In multi-project management, different projects come with different types of information, plans, schedules, and data. The project manager has to keep all 6 the information in their head and remember all details of each project which is almost impossible for a person. Underlying perspective Stakeholders - for managing multiple projects, the project manager must identify all the stakeholders, try to understand stakeholder interests, their issues, concerns, and priorities, manage opinions of interest, prioritize outcomes and develop communication among different stakeholders. Customers-For handling multiple customers, the project manager should have a proper schedule and stick to it. He should give specific time to each customer and not let customers take over their time. Community projects have a huge effect on communities and society. Managing multiple projects or project portfolios requires considering the possible social, economic, and environmental impact on the community. It involves appealing to the community, addressing concerns, and guaranteeing responsible and acceptable project practices. environment for managing multiple projects, the manager should avoid clashes between the projects, plan for summit required times, use tools for workload schedule, work in collaboration with workers, and track time. Conclusion Multiple Project management or project portfolio practice is based on theoretical frameworks that are directly or indirectly applicable to manage project management. The framework provides consistency, clarity, communication, collaboration, and continuity which is beneficial for a project. Multiple project managers have to face several challenges like priority clashes, overlapping of resources, struggling with deadlines, and others. Project management is under the perspective of stakeholders, customers, the community, and the environment. 7 Reference Dubey, R., Gunasekaran, A., Childe, S. J., Blome, C., & Papadopoulos, T. (2019). Big data and predictive analytics and manufacturing performance: integrating institutional theory, resource?based view and big data culture. British Journal of Management, 30(2), 341-361. https://kar.kent.ac.uk/72639/1/Final_BJM_Revised%20Version_Authors%20Affiliations%20 %281%29.pdf Safari, A., & Saleh, A. S. (2020). Key determinants of SMEs’ export performance: a resource-based view and contingency theory approach using potential mediators. Journal of Business & Industrial Marketing, 35(4), 635-654. https://www.emerald.com/insight/content/doi/10.1108/JBIM-11-2018-0324/full/pdf Younus, D. A. M., & Younis, H. (2021). Conceptual Framework of Agile Project Management, Affecting Project Performance, Key: Requirements and Challenges. International Journal of Innovative Research in Engineering & Management (Ijirem). https://www.researchgate.net/profile/Ahmed-Younus- 7/publication/353333823_Conceptual_Framework_of_Agile_Project_Management_Affectin g_Project_Performance_Key_Requirements_and_Challenges/links/60f56e20fb568a7098be8e 63/Conceptual-Framework-of-Agile-Project-Management-Affecting-Project-Performance- Key-Requirements-and-Challenges.pdfMore Articles From Management
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