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Developing a project portfolio management process

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The case study will place the student in the role of a senior manager in charge of one of your company's Strategic Business Units (SBU). Your first task in this new position is to develop a project portfolio management process and then use this process to select projects for your SBUs portfolio. The case study will involve the application of the tools and techniques of multi-project/program management and will deal with the analysis and establishment of project management systems based on the structure of the project.
The senior management of your company has already made the strategic decisions to allocate annual funding to each of the Strategic Business Units (SBU) within the company. You have been hired to manage one of the companies SBUs.

Your new company is a mid cap company with revenues of approximately $350 million dollars a year. This company, like many others, is struggling in today's economy. It realizes in order to survive it needs to both expand and control costs at the same time. You are new to this industry. This company's vision is to become the "go to" support or the "provider of choice" for the cruise ship industry throughout the world.

This company currently is in the travel and hotel support industry. As such, you supply support services to the travel and hotel industry such as linen services to cruise ships and major hotel chains in the Southeastern United States. Most of your new company's revenues are derived for the cruise ship industry versus the hotel industry. This company is home based in Tampa, Florida, as most of your business is in that geographic area.

You are in charge of the Operations SBU and responsible for the management of a product portfolio in this strategic business unit. The Operations SBU is the SBU that provides all the company's services to its clients. There are a number of projects already in progress, but there has not been a good portfolio management process in place.

The parent company has set the following strategic goals for the entire company:

Expansion goals are to grow the company 10% per year, specifically to include the following:
Expand into new markets in Alaska and Europe
Expand services provided to current customers
Increase revenues by 10%
Increase customer satisfaction by 15%

Cost Control goals include the following
Reduce operating costs by 10%
Reduce overhead and warehousing costs by 5%

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This solution explains the method of portfolio management process. The sources used are also included in the solution.

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