Managing the resources of a portfolio of projects

Abstract

The "Virtual Corporation", as a better way of working, is supported by such visionaries as Tom Peters and Robert J. Kriegel. Organisations making a move to this configuration often suffer culture shock from having to change management style to cope with project management. More significantly, if an organisation is moving towards performing all of its functions using a project structure, it must learn to manage a portfolio of projects. The new corporate structure will have the majority of the workforce divided into project teams. If these neglect to adopt project planning and management procedures many projects will fail. However, if senior management neglect these in managing the entire portfolio of projects, the consequences are potentially catastrophic for the organisation. If an organisation gets it right, "Organisation by Project" is an efficient and highly motivating method of working in which project teams often achieve results that can surpass even the highest expectations.