Review the Final Project instructions below. This Portfolio Project Milestone requires the demonstration of your progress toward the completion of your final Portfolio Project—the emphasis of this Portfolio Project Milestone is related to the “Section 1: Principle Components Discussion,” which is common to both options.
Using the framework that you drafted in Module 2, add substantive content to the Section 1: Principle Components Discussion section, which describes the project management standards and processes based on the Project Management Institute’s A Guide to the Project Management Body of Knowledge® (PMBOK® Guide) (6th ed.). For each of the following items not previously completed in the Module 2 Portfolio Project Milestone, include a brief, yet substantive synopsis (1- to 3-paragraphs for each subsection level-2 bullet item):
- Project, Program, and Portfolio Management distinction
- Project Selection
- Project Charter (plus template in appendix)
- Project Organization
- Project Planning
- Project Scheduling
- Project Estimating
- Monitoring and Control
- Risk Management.
Please note that the project charter template must address the unique requirements of a small-to-medium projects in a global organization.
Include the Portfolio Project option that you selected as part of the cover page, running header, and the paper title to confirm which scenario-specific project management simulation you will complete and that aligns with your Portfolio Project option.
Your Portfolio Project Milestone essay, which includes the revised Section 1: Principle Components Discussion (now expanded to full 5 pages), must include substantive, well-supported content and be formatted according to APA format.
Chapters 14, 15, & 17 in Project Management: A Systems Approach to Planning, Scheduling, and Controlling
Part 1 (Sections 6.6, 7.4, 10 & 11) & Part 2 (Section 5) in A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
Module 3 (p. 3) in Project Management System Resource Center (PMSRC)
Boland, J., & Stefanazzi, O. (2018, Mar). IBM strengthens focus on professional project management center of excellence celebrates more than two decades of service. PMI Publications. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/case-study/ibm-pmcoe-case-study.pdf
Soofifard, R., & Bafruei, M. K. (2016). An optimal model for Project Risk Response Portfolio Selection (P2RPS). Iranian Journal of Management Studies, 9(4), 741-765.
AACE International. (2018). AACE International recommended practice no. 10S-90: Cost engineering terminology. Retrieved from https://web.aacei.org/docs/default-source/rps/10s-90.pdf?sfvrsn=18
Kerzner, H. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ: John Wiley & Sons.
Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.
Chapter 10 & Chapter 11 (Sections 11.0-11.7, 11.16, & 11.26) in Project Management: A Systems Approach to Planning, Scheduling, and Controlling
Part 1 (Sections 4.1, 10.1, & 11.2) & Part 2 (Section 2) in A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
Module 5 (pp. 1-4) in Project Management System Resource Center (PMSRC)
Project Management Institute (PMI). (2017, February). Embracing benefits realization management – An essential element of achieving project management and business success. PMI Publications. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/case-study/embrace-benefits-realization.pdf
Project Management Institute (PMI). (2018, May 24). Strategic role of project management elevated as organizations manage disruptive technologies. Business Wire (English), 1-5.
Project Management Institute. (PMI). (2017). Benefits realization management framework. PMI Publications, Thought Leadership Series. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/benefits-realization-management-framework.pdf
Pedersen, K. (2016). IT project selection: Politics, experience and good friends. Electronic Journal of Information Systems Evaluation, 19(1), 55-70.
Project Management Institute. (2016). Connecting business strategy and project management. PMI Publications, Thought Leadership Series. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/connect-business-strategy.pdf?sc_lang_temp=en
Project Management Institute. (2017). A guide to the project management body of knowledge® (PMBOK® Guide) (6th ed.). Newtown Square, PA: PMI Publications.
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