Caterpillar Space Mining Portfolio Management Plan

Contents
Introduction .................................................................................................................................................. 4 1.1 Organizations Strategic Plan .................................................................................................................. 4 1.2 Organizations Strategic Capacity ........................................................................................................... 6 1.3 Portfolio Management Process .............................................................................................................. 7 1.4 Project Selection Criteria ........................................................................................................................ 8 1.5 Program Management Plan .................................................................................................................. 10 1.6 Organizational Communication Plan .................................................................................................... 10 1.7 Resource Plan........................................................................................................................................ 10 1.8 Summary ............................................................................................................................................... 10 1.9 Works Cited(atleast 6 authoritative references) .................................................................................. 10

Project WBS

Portfolio Management Plan Organization Strategic Capacity Portfolio Management Process Program Management Plan

Organization Strategic Plan

Project Selection Criteria

Resource plan

Summary

Works Cited

Responsibility Assignment Matrix(RAM)

Task Name

Diallo

Pam

Paul

Julia

1.1 Orginaional strategic Plan 1.2 Orginaional Strategic Capacity 1.3 Portfolio Managemnt Process 1.4 Proejct Selction Criteria 1.5 Program Mangeemtn Plan 1.6 Resource Plan 1.7 Summary 1.8 Works Cited PM Week1/2 PM Week3/4 PM Week 5/6 PM Week 7/8 R: Responsible A: Accountable C: Consulted I: Informed

A,R R A,R C C C

A,R R C A,R C C

A,R R C C A,R C

A,R R C C C A,R

Introduction
A portfolio refers to projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives (Project Mangement Institute, 2010). Portfolio management refers to centralized management of one or more portfolios to achieve strategic objectives. (Project Mangement Institute, 2010)fs

1.1 Organizations Strategic Plan

Strategic planning analyzes the strengths and weaknesses of an organization to meet long term objectives. There are several areas that are examined to provide information for the selection of potential projects to maximize an organizations strengths and trend setters in new products and services. (Schwalbe, 2010) Mission Statement - Our purpose of existence; should be brief and to the point; it provides context for major decisions and capable of infinite fulfilment; it is not time bound. It should answer express who we are, who we serve and what we offer; be easily articulated and motivating. Usually one sentence. Compare and contrast the mission with related and respected organizations.

The methodology of portfolio management project alignment utilizes several methods for evaluation. These methods are: 1. 2. 3. 4. Focusing upon organizational needs and competitive strategy Performing financial projection such as Net Present Value(NPV), Return on Investment(ROI), and Paybak Analysis Implementation of a Balanced scorecard Project Timeframe

Vision Statement - An important element in communicating strategic direction. An inspiring statement describing where the organization desires to be. The mission, vision and values help distinguish an organization from others with similar purposes. What the org/dept wants to be; it should be compelling, vivid and concise,,

challenges everyone to reach for something significant inspires a compelling future; it is time bound. An organisation's Vision sets out its aspirations for the future. The Vision is the 'dream' of the future, a picture painted in words, which is intended to inspire people by appealing to the heart as well as the head

Goals The goals are broad priorities for the organization, for example Growth and Expansion, or Economic and Workforce Development. Most strategic plans include 3 to 7 carefully selected goals relevant to stakeholder needs and available resources.2 Goals should be SMART: Specific, Measurable, Attainable, Realistic, and Timely. Goals are not likely to change from year to year if they are correctly identified in the strategic plan (the strategies will change with fresh ideas and new initiatives.)

Initiatives-These are actions that will lead to achievement of your objectives, often taking the form of projects or programs having Measures (Key Peformance Indicators(s)(KPI), Timeline and Deliverables These are objective, quantifiable methods for measuring success. Indicators and monitors of success. It includes; performance measurement, initiatives and projects and action plans. Each Initiative has a supporting Action Plan(s) attached to it. Action Plans are geared toward operations, procedures, and processes They describe who does what, when it will be completed, and how the organization knows when steps are completed Like Initiatives; Action Plans require the monitoring of progress on Objectives, for which measures are needed

Gap Analysis of the Environment-Internal Analysis- Internal Assessment: Organizational assets, resources, people, culture, systems, partnerships, suppliers, etc. External Analysis- External Assessment: Marketplace, competitors, social trends, technology, regulatory environment, economic cycles, etc

1.2 Organizations Strategic Capacity

A technique used to identify and measure overall capacity of production is referred to as strategic capacity planning. Strategic capacity planning is utilized for capital intensive resource like plant, machinery, labor, etc.

Strategic capacity planning is essential as it helps the organization in meeting the future requirements of the organization. Planning ensures that operating cost are maintained at a minimum possible level without affecting the quality. It ensures the organization remain competitive and can achieve the long-term growth plan. Capacity planning based on the timeline is classified into three main categories long range, medium range and short range.

Long Term Capacity: Long range capacity of an organization is dependent on various other capacities like design capacity, production capacity, sustainable capacity and effective capacity. Design capacity is the maximum output possible as indicated by equipment manufacturer under ideal working condition.

Production capacity is the maximum output possible from equipment under normal working condition or day.

Sustainable capacity is the maximum production level achievable in realistic work condition and considering normal machine breakdown, maintenance, etc.

Effective capacity is the optimum production level under pre-defined job and work-schedules, normal machine breakdown, maintenance, etc.

Medium Term Capacity: The strategic capacity planning undertaken by organization for 2 to 3 years of a time frame is referred to as medium term capacity planning.

Short Term Capacity: The strategic planning undertaken by organization for a daily weekly or quarterly time frame is referred to as short term capacity planning.

Goal of Capacity Planning

The ultimate goal of capacity planning is to meet the current and future level of the requirement at a minimal wastage. The three types of capacity planning based on goal are lead capacity planning, lag strategy planning and match strategy planning.

Factors Affecting Capacity Planning Effective capacity planning is dependent upon factors like production facility (layout, design, and location), product line or matrix, production technology, human capital (job design, compensation), operational structure (scheduling, quality assurance) and external structure ( policy, safety regulations)

1.3 Portfolio Management Process

Establishing Portfolio management 1. 2. 3. Place all of the projects in one list Prioritize the projects Divide them into categories based upon investment

Venture: R
SpaceMining Equiment Development

Transforming Business

S
K
Processing

Growth: Growing the business

Core: The staple of what the business performs

1.4 Project Selection Criteria

SWOT Analysis The analysis of Strengths, Weaknesses, Opportunities, and Threats will allow for an identification of the state of the organization as it determines projects to be incorporated for the business areas it desires to participate and drive.

Weaknesses

Strengths

SWOT Analysis

Threats

Opportunities

Strengths Weaknesses Opportunities Threats

In addition to SWOT analysis a common project selection methodology utilized by organizations is the four stage planning process. The process takes a top down approach to developing a system to determine the best projects to be selected for a portfolio and also how resources need to be allocated for supporting those projects. The planning process is depicted in FigureXX below

Strategic Planning Business Area Analysis

Project Planning Resource Allocation
Strategic Plan-Determination of the organizations strategy, goals, and objectives to align to is first and foremost. Business Area Analysis-taking a look at the business processes that are central to achieving strategic goals Project Planning-Defining potential projects that meet both the strategic and business area goals. Resource Allocation-This prioritizes the projects as to which ones to execute.

One of the biggest decisions that any organization would have to make is related to the projects they would undertake. Once a proposal has been received, there are numerous factors that need to be considered before an organization decides to take it up. The most viable option needs to be chosen, keeping in mind the goals and requirements of the organization. How is it then that you decide whether a project is viable? How do you decide if the project at hand is worth approving? This is where project selection methods come in use. Choosing a project using the right method is therefore of utmost importance. This is what will ultimately define the way the project is to be carried out. But the question then arises as to how you would go about finding the right methodology for your particular organization. At this instance, you would need careful guidance in the project selection criteria, as a small mistake could be detrimental to your project as a whole, and in the long run, the organization as well.

1.5 Program Management Plan

1.6 Organizational Communication Plan

Sources of conflict Change Managemetn Plan

1.7 Resource Plan

1.8 Summary

1.9 Works Cited(atleast 6 authoritative references)