Project Portfolio Management
This paper talks about the Rapid Prototype Manufacturing (RPM) Inc. that executes large number of projects in a year with a customer focus in mind. Quality is their main goal in the game of competition. The first part of the paper refers to the company’s background information, its current project portfolio, and more. A SWOT analysis is also being determined to know the current status of the company. In the current strategy, there are too many projects in the pipeline and there is no control over prioritizing the projects. The project selection, prioritization criteria was not considered to be vital during the process of their current strategy. The stage gate system was not followed strictly to terminate the projects which yielded no good results. But as the company adapts new techniques like Strategic buckets model – invest money and scarce resources, Bubble diagram method – determines the probability of success versus the estimate of the reward, there has been effective way to allocate the resources, budgets and balance between the various project portfolios of the company. Hence after the application of new project management tools and techniques, the company will be able to be competent enough to face the competition by the rivals in the external market environment.
Al-Turkestani, Haitham; Khamis, Rabah; Stankovic, Robert; and Venugopal, Priya, "Portfolio Management System for RPM Inc." (2008). Engineering and Technology Management Student Projects. 1085.