Novozymes - CAPEX Portfolio Management
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This is the process that the group will follow and use to create a meaningful project for both Novozymes and DTU. During the first meetings with Novozymes, a number of hypotheses have been presented by Novozymes, which has lead to the identification of the following initial scope: | This is the process that the group will follow and use to create a meaningful project for both Novozymes and DTU. During the first meetings with Novozymes, a number of hypotheses have been presented by Novozymes, which has lead to the identification of the following initial scope: | ||
| − | #### | + | #### ''Identify possible patterns in order to find the causes for wrong budget estimates'' |
The project will focus on the financial estimates Novozymes are making for projects, and why these are not correct. The project seeks to avoid the case where Novozymes must add new projects in the end of the year in order to meet the estimates, and locate which indicators Novozymes should look for in the beginning of the year. | The project will focus on the financial estimates Novozymes are making for projects, and why these are not correct. The project seeks to avoid the case where Novozymes must add new projects in the end of the year in order to meet the estimates, and locate which indicators Novozymes should look for in the beginning of the year. | ||
Revision as of 13:28, 22 February 2020
Contents |
Notes for WIKI collection
Task
- Gather at least 10-20 different tools (e.g. Stakeholder models, communication models, solution designs) that might be relevant for our project
- Our tool (Article) in the WIKI system should be a short introduction of all the tools gathered and then 5-6 lines shortly describing every tool,
- its usage and at last the reference a site where more information can be obtained.
- So basically, it should be our entire toolbox for the project work.
Business Problem
This is the process that the group will follow and use to create a meaningful project for both Novozymes and DTU. During the first meetings with Novozymes, a number of hypotheses have been presented by Novozymes, which has lead to the identification of the following initial scope:
- Identify possible patterns in order to find the causes for wrong budget estimates
The project will focus on the financial estimates Novozymes are making for projects, and why these are not correct. The project seeks to avoid the case where Novozymes must add new projects in the end of the year in order to meet the estimates, and locate which indicators Novozymes should look for in the beginning of the year.
The group intends to establish an overview of the wrongly estimated projects in a percentage and based on this foundation test the different hypotheses. Here the initial thoughts are to test for tendencies in for example category, urgency and the EC-models. An investigation can also be conducted based on the continuous monthly estimates where the realised SAP postings can be compared to the monthly estimates to test whether certain months, projects, categories or etc. has similar patterns on the monthly basis as on the overall project basis.
In the preliminary analyses, the project will focus on projects from year 2017 to 2019 when trying to identify the patterns to why the estimates are wrong.
Tool Kit
The following section will describe project- and portfolio management related tools, which will be the base literature study for Group Cake further analysis.
1. Portfolio communication plan
Effective communication is a critical process in all aspects of organizational management. Some even consider it as the essence of an organization, considering that it ensures everything is tied together, and everyone is on the same page. Portfolio management is no different, and organizational communication plays a vital role in project portfolio management. Considering the many aspects that go into a portfolio, there is a need for an effective portfolio communication management between stakeholders, customers, portfolio managers, and everyone involved in portfolio management. This is because the lack of portfolio communication management can spell the difference between a successful and failure project. For a successful portfolio management, a portfolio communication management plan must be developed. It must be done in such a way that it is closely aligned with organizational strategy, portfolio governance management, portfolio risk management and portfolio performance management. Part of the po
A process to follow in order to establish a beneficial communication plan with a well-defined content and time frame for the communication. Additional reference can be seen in the book “The unofficial PM” on page122.
