Book Report on Strategic Portfolio Management

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Book Review
Title: Strategic Project Portfolio Management: Enabling a Productive Organization Author: Simon Moore
Publisher: Wiley, 2009
Subject: Business, Economics, Project Management

About the author:
Simon Moore is the Product Planner for Microsoft's Enterprise Project Management solution and has engaged with project and portfolio executives from Brazil to Japan to define the most effective strategies to completing projects on time, on budget, and within scope. He has worked for Anheuser-Busch on new product development, financial portfolio analysis at Putnam Investments, and regulation and compliance at the Bank of England. He has served as a strategic consultant to firms in the technology, retail, and financial industries. He has written for the UK's Guardian newspaper and is a member of the Project Management Institute. He has a BA (Hons.) from Oxford University and a Master of Business Administration from the Kellogg School of Management. He also studied at Chulalongkorn University in Asia and holds the Chartered Financial Analyst designation. Simon was born in the UK and currently lives in Seattle, USA.(Amazon.com)

Overview

Scope:
The author Simon Moore looks to bridge the gap for professionals in project portfolio management or PPM, to help develop greater understanding how to use project portfolio management. Directed towards the executive level audience, Moore describes how to align projects with an organization’s strategy to effectively capture ideas and build them into efficient processes to complete the projects aligned with the strategy. Finally, the book uses project management theory, relative real-life company scenarios and business case studies to create real life pictures for PPM professionals.

Outline/Synopsis:
The author’s emphasized areas of focus for effective project portfolio management is to begin by identifying business goals and aligning organization strategies with project management to accomplish those goals. The next area of focus in the book was on planning and organizing resources, processes and costs and the benefits you can achieve from these focus areas. The last focus area Moore headlined was using best practices in decision making to have a better aligned strategic organization through PPM. Also included is Moore talks about the role management and using psychology manage and communicate to their departments and employees. Finally, he takes a stab at the theory of Project Management and compares and contrasts the current trends of PPM and what resources are out there for individuals to reference for project management theory

Main Focus Areas

Business Goals and Aligning Organizational Strategy:
First major focus area in the book has the author Simon Moore also talks about defining the business goals at a “high level” is crucial in developing a organization’s project portfolio strategy. What he tries to say is there needs to be clear business goals with support by the entire organization which includes shareholders to eventually make a strategic impact. To develop the strategy and grow a broader and stronger portfolio you must be able to create ideas. Described in the book, a great example used on how to capture creative ideas from a broad range of areas was from the company Netflix. Moore talks about Netflix by saying “Netflix has grown dramatically through its creative business model of shipping movies through the mail, based on an online movie queue set up by customers. The model also changes the pricing structure for movie rentals, as customers pay a monthly fee rather than for each individual rental. In addition to its mail service, Netflix now also uses an online distribution model. This continual innovation has enabled the company to continue to acquire customers from entrenched competitors." Another point Moore mentions is for successful alignment of the business goals using PPM, it can be done more quickly by pushing a quicker turnaround of...
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