Project Selection (PS)

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A project

A project is defined as a temporary endeavor that has a well-defined beginning as well as its end time and also limited scope and resources (Schwalbe, 2015). A project is also considered to have a perquisite outcome.

Project Selection (PS)

Project Selection (PS) is defined as the evaluation of individual projects or group of the project with the aim of choosing and executing those projects that can help in achieving organizational objectives. The key outcome of a given project is considered to be tangible or intangible. As a result, it can be started at any level of the organization.

Portfolio

According to Schwalbe (2015) Portfolio is defined as a compilation of projects that have been set up to attain a given strategic goal. Therefore, Project portfolio involves a continuous process of choosing and managing the most favorable set of project initiatives that can deliver the highest business values as well as outcome. Time is an opportunity cost that is supposed to be considered in the project and portfolio selection (Schwalbe, 2015). Some of the criteria for creating a given plan includes financial or nonfinancial. The financial criteria validate that the production benefit has more value compared to the actual costs of a given project, whereas, the non-financial entails improving specific projects within the required time.

Updating Staff Documents

One of the projects that I participated in involves updating various staff documents. It was a massive project since it requires the use of software to do the work. The system I used offered the ability to share and establish a huge repository. I would organize and maintain a regular schedule with all the team members. We managed to go over several issues that were outstanding and received a report from every member. The information was tracked using Microsoft project. As matters arose, cases were established in the tracking system. The project leader would check the tickets and ensure all the issues are worked on appropriately. At standard intervals, we organized for weekly meetings and ensured any matters that arise are solved appropriately. My responsibility in this project was to develop, test and verify machines to ensure they work adequately. I was tasked as the leader for other technicians. The task was finished on time and as required. I documented all the lesson learned and formed FAQ for the support team to make sure the users can work without any interruption. The project was considered successful as the users were able to use the machine and complete their task within the stipulated time.

DMBA620

DMBA620 can be considered as a class and not project, as it is done once, and also an issue that requires a curriculum of the masters in business Administration program. Furthermore, it also requires taking more classes to reach a particular goal, and the levels are repetitive, making it a business process. Therefore, in relation to the criteria, the plan is working towards completing the course. On the other hand, a project is regarded as a temporary attempt which produces an exceptional outcome. A business process is defined as a permanent attempt which generates a repetitive outcome (Singer, 2001). Based on this definition, DMBA620 is coursework and also a way of obtaining a master in business administration and will point to the recurring nature of the coursework towards the particular outcome of an individual being awarded a master in business administration.

References

Schwalbe, K. (2015). An introduction to project management (5th ed.). Minneapolis, MN:

Schwalbe Publishing

Singer, C. A. (2001). Leveraging A Worldwide Project Team. PM Network, 15(4), 36–40.

January 19, 2024
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Business Education

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Company

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585

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