From the course: Project Portfolio Management Foundations

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Project execution

Project execution

From the course: Project Portfolio Management Foundations

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Project execution

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- Project execution, the work that happens once a project is approved and resources allocated, is an aspect of portfolio delivery that most organizations think they do well. In most cases, they're wrong. Project management is something you've probably been doing for many years, but that work is probably focused on outputs. This is often referred to as the triple constraint: on time, on schedule, and on budget. The idea is if you complete the plan on time with the resources provided and including all of the requirements, the project will succeed. The triple constraint is important, but in a portfolio, delivering on benefit is much more important. This means the project is only considered successful if it enables the business to achieve the goals for which it was approved. Projects are included in the portfolio because they are expected to contribute to the organization's goals and objectives. That needs to define how they are managed. Doing everything possible to allow the business…

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