![]() ![]() He knew that if one of the on-going projects were stopped, that would free up some additional money. Robert wished he had a clear evaluation process to decide between these competing projects. Well, not really, as the CFO might throw his weight behind Darren. Robert did not know much about the payroll system, so it is out-of-question for now, he thought. But he also knew that Raj would put a very convincing case, which could impress the CEO. He could empathize with Julie, as he had been performing her role previously, before he was promoted to CIO. ![]() Robert knew he could not fund all the three projects. ![]() The operations manager, Julie, wanted to replace an ageing infrastructure Raj, the marketing manager, was arguing a case for a new CRM system and Darren wanted to enhance a functionality of the pay-roll system. Three different departments were fighting for already stretched funds to initiate new projects into their departments. Robert Malcolm felt the need to make an important decision for IT Governance meeting the following day. This chapter shows one of the many ways to implement a portfolio management framework. However, practitioners can benefit from discussing implementation approaches that can be tailored to suit individual needs. This could be because implementation differs between organizations and there is no one size fits all solution. While there is literature available discussing portfolio management at the conceptual level, there is not enough available which translates these concepts into tactical implementation. Portfolio Management principles are the foundations of building an effective governance. As IT Governance is gaining importance, the IT department should not be surprised if they are given a mandate from the senior management to implement a Governance framework. AbstractThis chapter is intended primarily for managers who are preparing to implement portfolio management concepts in an organization and students of IT Project Management courses at the Masters level, who wish to understand the difference between Project and Portfolio Management. ![]()
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