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Project management Summary CPMGT301 week1 steven galvan

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Project management Summary CPMGT301 week1 steven galvan
Project Management Summary
Steven Galvan
CPMGT/301
April 6, 2015
Kevin Stocker

Project Management Summary
Project management is the process of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals within a project. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. In practice, the management of a project requires the development of distinct technical skills and management strategies In order to achieve the desired outcome. Knowing how to effectively place resources in the right place and schedule the proper amount of time for a project are key attributes any successful project manager possesses. What is Strategic Portfolio Management? Strategic portfolio management is the analysis and decision making process regarding the process of determining how to strategically invest within a business or corporation. Strategic portfolio management is focused on determining where a company’s investment priorities should lye regarding its products and internal business units company wide. The process also usually involves setting specific goals in terms of the range of investment types contained in the portfolio, the total monetary value of the portfolio, or the overall worth of the portfolio as of a future date in time. Allowing the investor to effectively have a goal to work toward when buying, selling, and holding different types of assets will give the investor the ability to gauge the overall progress of the business and track where the business stands within the annual budget.
How strategic portfolio management relates to project management.
Portfolio management and project management are related in the big picture through a process of organization within a company. Most companies have a number of products or business


References: Gilchrist, P. (2014). Strategic Portfolio Management. Retrieved from http://www.projectmanagement.com Chatterjee, R.(2010). Project Management Resources. Why program management is an essential part of strategy execution. Retrieved from http://www.projecttimes.com
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