View source for The relevance of management organizational change

==='''Portfolio Management'''===

The art of making decisions about matching investments to projects objectives, managing the risk balance against companies’ performance, and assets allocations are about portfolio management. In other words it is about finding trade-offs in a company between its opportunities and threats, growth and safety in order to maximize return in term of risk. Portfolio management is goal–driven and target oriented. Therefore, the main goal of portfolio management is to coordinate the projects and programs processes along with the business resources and its strategic objectives. It is one of the criteria used by the enterprise responsible authorities to select, prioritize or reject the investment to certain project <ref name="REF 13">''A guide to the Project Management Body of Knowledge (PMBOK guide)- Fifth edition, Project Management Institute PMI, 2013, USA, Project Management Institute, Inc''</ref>.

The challenge face in portfolio management are relate to create and maintain a corporate identity at the same time that each project or program is implemented. This will help the enterprise to fits better to their changing environment by relocate the resources on those projects and programs which are align with the current business strategy and cancel those ones which move enterprises away from its future vision expectations.

[[File:Figure 1-Project, Program and Portfolio Management Interactions.jpg|text-bottom|Center|frame|600px|Figure 1. Portfolio Management Process Interactions]]

{| class="wikitable"
|+ Relation among Project, Programs and Projects. <ref name="Ref13"/>
|-
|'''PROJECT'''
|'''PROGRAM'''
|'''PORTFOLIO'''
|-
|Individual projects.
|Collection of projects and subprograms
|Collection of projects, programs and subportfolios.
|-
|Aline with enterprise's organizational strategies.
|Aline with enterprise's organizational strategies.
|Aline with enterprise's organizational strategies.
|-
|Select the right program/project.
Prioritize the work.
Provide the needs resources.
|Adjust its project and program components.
Control interdependencies.
Common specified benefits.
|Implements plans to achieve a specific scope led by the objectives of the program or portfolio.
|}

In business operations changes happen as a result of developing a new product, while improving operation process untill the end of the product life cycle. This means that at each closeout phase a change could be face. In the business directions changes happen when its aligned all the business activities with the strategic direction of the organization.

{| class="wikitable"
|+ Analysis of the Change's Key points. <ref name="Ref14"/>
|-
|'''CHANGE'S KEY POINTS'''
|'''PROJECT MANAGEMENT'''
|'''PROGRAM MANAGEMENT'''
|'''PORTFOLIO MANAGEMENT'''
|-
|CLOSE OUT PHASE.
|Impact: The objectives of the project or Stakeholder demands were not achieved. This will lead to a fail project.
|Impact: 
|Impact: It doesn't follow the company future strategy. It will lead to optimization of the resources.
|-
|CHANGE ON STAKEHOLDERS.
|Impact: Customers and Users.
|Impact: Business partners and Organizational Support.
|Impact: Governance and Sponsors
|-
|CHANGE ON ORGANIZATIONAL STRATEGY.
|
|Impact: Evaluate the projects and subprograms align with the business strategic.
|Impact: Redefine constrains used to evaluate the projects and programs and relocate resources.
|-
|CHANGE ON TIME DELIVERY & RESOURCES.
|Impact: A delay in the delivery or lack of resources will lead to a fail project.
|
|Impact: Revaluate the projects prioritization according to the resources.
|}