Sustainability in Project and Portfolio Management - Revision history

Tkokotas at 12:47, 18 December 2018

2018-12-18T12:47:36Z

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			''Developed by Erika di Pietro''


	In the past, there was not desire to know the ecological impact of products, since environmental disasters were rather rare. Conversely, today several companies have adopted sustainable strategies as long term value in their business model, in order to face environmental problems as population growth, climate change and divergent living standards. However, there is still a huge need to change the way in which companies and the society produce and consume goods. {{#ev:youtube\|https://www.youtube.com/watch?v=Rht4d4GdYbM\|500\|right\|Business and sustainable development – can they work for each other?\|frame}}		In the past, there was not desire to know the ecological impact of products, since environmental disasters were rather rare. Conversely, today several companies have adopted sustainable strategies as long term value in their business model, in order to face environmental problems as population growth, climate change and divergent living standards. However, there is still a huge need to change the way in which companies and the society produce and consume goods. {{#ev:youtube\|https://www.youtube.com/watch?v=Rht4d4GdYbM\|500\|right\|Business and sustainable development – can they work for each other?\|frame}}

S155375: /* Annotated Bibliography */

2016-09-26T21:47:58Z

Annotated Bibliography

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	*Sustainability Development and the company: why, what and how? - from the course 42351 Sustainability in Management. Technical University of Denmark. <ref name="why"/>		*Sustainability Development and the company: why, what and how? - from the course 42351 Sustainability in Management. Technical University of Denmark. <ref name="why"/>
	**''The article explains the reason why companies should take care about sustainability. And ~~examine~~ all the past and the future opportunities for the companies.		**''The article explains the reason why companies should take care about sustainability. And examines all the past and the future opportunities for the companies.
	''		''

S155375: /* Life Cycle Assessment */

2016-09-26T21:47:21Z

Life Cycle Assessment

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	===Life Cycle Assessment===		===Life Cycle Assessment===
	----		----
	Life cycle assessment (LCA) ''"Is a methodological framework to estimate and assess the environmental impacts attributable to the life cycle of a product, such as climate change, stratospheric ozone depletion, smog creation, eutrophication, acidification, toxicological stress on human health and ecosystems, the depletion of resources, water use, land use, and others"'' <ref name="lca"/>		Life cycle assessment (LCA) ''"Is a methodological framework to estimate and assess the environmental impacts attributable to the life cycle of a product, such as climate change, stratospheric ozone depletion, smog creation, eutrophication, acidification, toxicological stress on human health and ecosystems, the depletion of resources, water use, land use, and others".'' <ref name="lca"/>

	It gives a sustainable perspective of the product design, source and development. It provides also a clear overview of the company's impact that leaders can communicate to stakeholders.		It gives a sustainable perspective of the product design, source and development. It provides also a clear overview of the company's impact that leaders can communicate to stakeholders.

S155375: /* Setting Goals */

2016-09-26T21:46:05Z

Setting Goals

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	===Setting Goals===		===Setting Goals===
	----		----
	Setting goals is necessary to obtain a good performance. There are four different steps to follow in order to define and achieve ~~them~~:		Setting goals is necessary to obtain a good performance. There are four different steps to follow in order to define and achieve the goals:

	====Define scope of goals and select KPIs====		====Define scope of goals and select KPIs====

S155375: /* Map the Value chain to identify impact areas */

2016-09-26T21:45:24Z

Map the Value chain to identify impact areas

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	Speaking in terms of portfolio and project management, there are different techniques to maximize the stakeholder engagement. Also if the manager is not sure about the contribution of some stakeholders, he should include them into the sustainability development processes. The manager should always let them understanding how much important they are for the company activities, in order to be credible and transparent. Further, he should always include the stakeholders input into sustainability planning process. In this way they can see their contribution and improve the engagement.		Speaking in terms of portfolio and project management, there are different techniques to maximize the stakeholder engagement. Also if the manager is not sure about the contribution of some stakeholders, he should include them into the sustainability development processes. The manager should always let them understanding how much important they are for the company activities, in order to be credible and transparent. Further, he should always include the stakeholders input into sustainability planning process. In this way they can see their contribution and improve the engagement.
	The following table is a guideline for managers to provide best practices of stakeholder engagement process.		The following table (Figure 4) is a guideline for managers to provide best practices of stakeholder engagement process.

	[[File:stakeholdersust.png\|500px\|thumb\|left\|Figure 4: Stakeholder Engagement Guideline in Sustainability Development Processes<ref name="aa"/> ]]		[[File:stakeholdersust.png\|500px\|thumb\|left\|Figure 4: Stakeholder Engagement Guideline in Sustainability Development Processes<ref name="aa"/> ]]

S155375: /* Define priorities */

2016-09-26T21:43:19Z

Define priorities

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	====Define priorities====		====Define priorities====
	After having mapped the value chain, identified impact areas and collected data, the company can pursue to identify which are the priorities. For example, according to the probability to have positive or negative impacts on the ~~SDG~~, or the possibility to develop new products, broaden the market segment.		After having mapped the value chain, identified impact areas and collected data, the company can pursue to identify which are the priorities. For example, according to the probability to have positive or negative impacts on the SDGs, or the possibility to develop new products, broaden the market segment.

	===Setting Goals===		===Setting Goals===

S155375: /* Define priorities */

2016-09-26T21:42:36Z

Define priorities

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	====Define priorities====		====Define priorities====
	After having mapped the value chain, identified impact areas and collected data, the company can pursue to identify which priorities ~~has~~ on the ~~SDGs~~.		After having mapped the value chain, identified impact areas and collected data, the company can pursue to identify which are the priorities. For example, according to the probability to have positive or negative impacts on the SDG, or the possibility to develop new products, broaden the market segment.

	===Setting Goals===		===Setting Goals===

S155375: /* A holistic perspective */

2016-09-26T21:32:45Z

A holistic perspective

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	History says that many companies tried to become environmental friendly; for example, in 1975 the US company 3M set up the Pollution Prevention Pays (3P) programme, aiming to reduce costs by preventing waste and emission, a very sustainable entrepreneurial project at that time. Furthermore, the company found out that was reducing costs in maintenance, raw materials, accidents, clean-up operations and insurance. The inventor of the 3P programme is Joseph Ling, who affirmed that the environmental challenge for the next millennium ''"Is to move from pollution prevention toward sustainable development and design for environment"'' <ref>P.Sorenson, ‘Pollution Prevention Pioneer’ Inventing Tomorrow,1999 </ref>.		History says that many companies tried to become environmental friendly; for example, in 1975 the US company 3M set up the Pollution Prevention Pays (3P) programme, aiming to reduce costs by preventing waste and emission, a very sustainable entrepreneurial project at that time. Furthermore, the company found out that was reducing costs in maintenance, raw materials, accidents, clean-up operations and insurance. The inventor of the 3P programme is Joseph Ling, who affirmed that the environmental challenge for the next millennium ''"Is to move from pollution prevention toward sustainable development and design for environment"'' <ref>P.Sorenson, ‘Pollution Prevention Pioneer’ Inventing Tomorrow,1999 </ref>.
	<br>Then, producing without pollution is not enough, it is necessary that products and the whole system is reviewed and redesigned in order to fulfil the costumer and the organization needs in a sustainable manner. Through an holistic concept of sustainability, in terms of Corporate Business, a three-pronged approach takes place: the Triple Bottom Line (TBL)(Figure 1), introduced by John Elkington in 1994, where economic, environmental and social goals are aligned and impact on the decision and actions of the organization. <ref name="aa">Kristina Kohl , Becoming a Sustainable Organization: A Project and Portfolio Management Approach, © 2016 by Taylor & Francis Group, LLC</ref> .		<br>Then, producing without pollution is not enough, it is necessary that products and the whole system is reviewed and redesigned in order to fulfil the costumer and the organization needs in a sustainable manner. Through an holistic concept of sustainability, in terms of Corporate Business, a three-pronged approach takes place: the Triple Bottom Line (TBL)(Figure 1), introduced by John Elkington in 1994, where economic, environmental and social goals are aligned and impact on the decision and actions of the organization. <ref name="aa">Kristina Kohl , Becoming a Sustainable Organization: A Project and Portfolio Management Approach, © 2016 by Taylor & Francis Group, LLC</ref>
	This concept is present in the [http://www.wbcsd.org/home.aspx/ UN World Business Council for Economic Development] (WBCSD)<ref>http://www.wbcsd.org/home.aspx</ref>, formed by 150 international companies worldwide, where leaders involve the TBL in their business case, in order to address global challenges such as poverty, gender inequality, resource depletion, etc.		This concept is present in the [http://www.wbcsd.org/home.aspx/ UN World Business Council for Economic Development] (WBCSD)<ref>http://www.wbcsd.org/home.aspx</ref>, formed by 150 international companies worldwide, where leaders involve the TBL in their business case, in order to address global challenges such as poverty, gender inequality, resource depletion, etc.
	The WBCSD recommends to the companies to follow the Sustainable Development Goals ([http://www.un.org/sustainabledevelopment/sustainable-development-goals/ SDGs]) as opportunity for business and to have more influence on the society. <br> Developing a business case following the values and preposition of a sustainable development it is a entrepreneurial step, in the life cycle of a company, providing competitive advantages and new opportunities.<br>		The WBCSD recommends to the companies to follow the Sustainable Development Goals ([http://www.un.org/sustainabledevelopment/sustainable-development-goals/ SDGs]) as opportunity for business and to have more influence on the society. <br> Developing a business case following the values and preposition of a sustainable development it is a entrepreneurial step, in the life cycle of a company, providing competitive advantages and new opportunities.<br>

S155375: /* Limitations */

2016-09-26T21:22:36Z

Limitations

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	In genereal, developing this change needs to have all the portfolio components involved, others limitation are:		In genereal, developing this change needs to have all the portfolio components involved, others limitation are:

	- ~~Costlier~~ activities and products.<br>		- More expensive activities and products.<br>
	- Backlash from customers and stakeholders, if the information spread is not correct, or does not contain regulations.<br>		- Backlash from customers and stakeholders, if the information spread is not correct, or does not contain regulations.<br>
	- Lack of support.		- Lack of support.

S155375: /* Annotated Bibliography */

2016-09-26T21:21:57Z

Annotated Bibliography

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	==Annotated Bibliography==		==Annotated Bibliography==

	'''~~References~~ used in the Wiki-article'''		'''Brief explanation of some of the references used in the Wiki-article'''

	* Kristina Kohl , Becoming a Sustainable Organization: A Project and Portfolio Management Approach, © 2016 by Taylor & Francis Group, LLC<ref name="aa"/>		* Kristina Kohl , Becoming a Sustainable Organization: A Project and Portfolio Management Approach, © 2016 by Taylor & Francis Group, LLC<ref name="aa"/>