It Project Portfolio Management– Huffman Trucking

1345 words - 5 pages

PAGE PAGE 2 Running head: IT PROJECT PORTFOILIO MANAGMENT
IT Project Portfolio Management- Huffman TruckingUniversity of PhoenixCMGT/578 Strategic PlanningIT Project Portfolio Management- Huffman TruckingThe purpose of a project portfolio is to establish a priority matrix that can be used to oversee and monitor projects. The portfolio enables managers to monitor all projects progress, development, resources, and general company commitment. Making sure that all projects run under a universal company project management approach in the portfolio ensures that project are looked at equally and judged or graded on their individual merits. Projects should be weighted to ensure proper amounts of energy and resources are allocated to each project. The method to achieve this is called Project Portfolio Management (PPM)Current ProjectsHuffman Trucking currently has a number of projects under investigation that need to be graded to ensure proper attention, funding, time, and resources is given to each appropriately. The current projects under investigation at Huffman Trucking areThe use of Fleet Tracking Systems across the operationsThe deployment of an ERP System, linking Customers sales order, tracking services, bill of lading signatures, preventative maintenance and overhaul, human resources, driver scheduling, general ledger, A/P, A/R, and other accounting and reporting functions.Implementation of a warehousing/local JIT (just in time) delivery service.Upgrading equipment in the California office and plantUpgrading equipment in the Missouri office and plantUpgrading equipment in the New Jersey office and plantUpgrading equipment in the Ohio office and plantThese projects require organization and grading that will enable Huffman to allocate resources correctly. These project need to be placed in a portfolio and be managed.First PPM MethodHuffman does not have unlimited resources. In a white paper by TheChemicalEngineer.com (?), a process called the Optimal Project Portfolio (OPP) is suggested. This process has five steps:Develop project criteria- is the goal to achieve short-term sales boost or reduction in cost?Analyze resource capacity- what is time availability for employees on special projects.Gather and organize information on current and planned projects- current projects underway verse in the planning stage. View against time and money availability.Evaluate project portfolio- can any project be combined, how will they be ranked?Implement an ongoing PPM mentality. What can be done to make project review and prioritization and ongoing effort?With these five steps revealed, the above seven project can be reevaluated. One way to accomplish this is to create a quick matrix for the projects using the listed criteria
#

Project

Project criteria

Resource capacity

Information

Evaluation

Implementation

Rate

1

GPS System

Increase sales and efficiency

$$

Combine w/ #2?-- Planned

2

2

EPR System

Increase efficiency

$$$

...

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