1-2 Journal Case study

1 1-2 Journal: Case Study Overview Business School, Southern New Hampshire University QSO-680-X1396 Seminar in Project Management 23TW1 Ben Granade September 24, 2023
2 Objective The defining objective of this case study is to outline the need for portfolio management for companies to reach their goals. Portfolio management aids in the alignment of the business's strategic objectives (Bode-Greuel, 2008). R&D companies focus on lowering total costs for consumers while continuing to be innovative and reach sales/productivity targets. Projects that aim toward reaching these goals will be approved and allowed in the portfolio. Target Stakeholder Group The target stakeholders identified in this case study are the direct R&D company's consumers and indirect companies that cover inflated health insurance costs. The company's primary purpose is to efficiently research and develop new drugs in order to lower costs for its customers (Bode-Greuel, 2008). Portfolio management benefits stakeholders by ensuring that the R&D company makes sound decisions that align with the reduced cost for customers and the corporate initiative. Stakeholders will gain full benefit from portfolio management when the R&D company fully understands the disease of interest and the medical need. Project, Portfolio, and Program Levels A portfolio is the most complex of the three and is compiled of a group of programs selected by a company to meet company initiatives strategically. The next level is the program level, which involves managing a group of projects to ensure they all align for the company's benefit. Projects managed at the program level are selected based on the need as they share common product specs, end dates, or targets like a symbiotic relationship. The last level of the three is the project level; this is the simplest level as it only involves the management of a single event with one start and end date.
3 Management of the three levels becomes more complex as one moves up the ladder, but all are directly affected. Changes at the top levels trickle down to the project level, just as the failures at the project level make waves all the way up to the program level. If the project level causes delay, the program managers will indeed feel the effects of announcing the losses to the stakeholders. The high-level managers hold more responsibility and accountability than the project-level managers. Corporate Strategy The strategy of this company is to improve its development systems while providing low- cost drugs to consumers and increasing productivity. Portfolio management selects projects that align with this corporate strategy. Value-driven project and portfolio management is a methodology that enables aligning project decisions with corporate strategy and defined business objectives. (Bode-Greuel, 2008). Role of the Project Manager The project manager's goal is to ensure that projects provide value and align with the portfolio. The project manager sets priorities, follows the company objectives, and communicates project concerns/issues. The PM will utilize the following tools to guide the project: target product profile (TPP), stage-gate decision process, manage the budgets and timelines, and ensure the sales forecast aligns with the TPP and development plan.
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