Reference no: EM131422988

QUESTIONS:

1.) An effective project portfolio does not just happen. There is a process that must be developed and then followed to help ensure a successful portfolio. Let's start this discussion by examining what decisions must be made before a project is actually looked at or considered. So where do you start in the preprocess stage? Be sure to justify your answer. 

2.) Define the process groups and knowledge areas included in the portfolio management process and explain what happens in each area. How do these areas interact with one another as a group?

3.) Poor accounting of overhead costs in a project can jeopardize the chances of project success. How are overhead costs estimated in your organization? What methods are used? How are overhead costs accounted for? How is the project team's time accounted for in the project budget?

4.) The PMBOK^® Guide has quite a number of cost-estimating methods. Which methods are employed in your organization? How closely do they resemble the methods found in thePMBOK^® Guide? How effective are they?