'''Welcome to 42433 - Advanced Engineering Project, Program and Portfolio Management and thank you for your interest!'''

= Topics =

Please add a couple of categories to your page, at least consider if the page falls into the category of
*Project Management
*Program Management, or
*Portfolio Management

and whether it relates to
*Complexity
*Uncertainty, or
*Human Behaviour

other categories could also be
*Lean program management
*Systems Engineering
*Agility
*...

You can add categories to your page by typing in
<nowiki>[[Category:''category name'']]</nowiki>
e.g.
<nowiki>[[Category:Program Management]]</nowiki>.

== Wishlists from Christian and Josef ==
You can find some suggested topics on [[Christian's and Josef's Topic Wishlist]]. These are just suggestions - there are no bonus points for picking a topic off our list.

[[Christian's Topic Wishlist]]

[[Josef's Topic Wishlist]]

Please make sure to check against the Concept Box [[Main_Page]] if a topic was already covered.

= Instructions for creating groups tool overview as Wiki =



=Link to Articles=
== Collections Spring Term 2021 ==

On the following page you will find links to a table you need to fill out with all the articles from Spring Term 2021:
* [[Articles Spring Term 2021]]

== Collections Spring Term 2020 ==

On the following page you will find links to a table you need to fill out with all the articles from Spring Term 2020:
* [[Articles Spring Term 2020]]

== Articles Spring Term 2019 ==

On the following page you will find links to a table you need to fill out with all the articles from Spring Term 2019:
* [[Articles Spring Term 2019]]

== Articles Spring Term 2018 ==

On the following page you will find links to a table you need to fill out with all the articles from Spring Term 2018:
* [[Articles Spring Term 2018]]

== Articles Fall Term 2017 ==

On the following page you will find links to a table you need to fill out with all the articles from Fall Term 2017:
* [[Articles Fall Term 2017]]

== Articles June 2017 ==

On the following page you will find links to a table you need to fill out with all the articles from June 2017:
* [[Articles June 2017]]

== Articles Fall Term 2016 ==

On the following page you will find links to a table you need to fill out with all the articles from Fall Term 2016:
* [[Articles Fall Term 2016]]

== Articles Fall Term 2015 ==

On the following page you will find links to all the articles from Fall Term 2015:
* [[Articles Fall Term 2015]]

== Articles Fall Term 2014 ==

On the following page you will find links to all the articles from Fall Term 2014:
* [[Articles Fall Term 2014]]

= Practical =

Consult the [//meta.wikimedia.org/wiki/Help:Contents User's Guide] for information on using the wiki software.

Go to [[Help:Contents|Help]] or follow the link in the navigation bar to find instructions on basic configurations

== Getting started ==
The followin links can help you some of the settings available - otherwise google your issue and write mediawiki, this will also results in a lot of hits on how to do different things
* [//www.mediawiki.org/wiki/Manual:Configuration_settings Configuration settings list]
* [//www.mediawiki.org/wiki/Manual:FAQ MediaWiki FAQ]
* [https://lists.wikimedia.org/mailman/listinfo/mediawiki-announce MediaWiki release mailing list]
* [http://www.mediawiki.org/wiki/Help:Contents Help Content]

=== Create a Page ===

To create a page follow these steps:
1. Write the potential name of your page in the search box in the upper right hand corner
2. Press go
3a. If the page does not exist press the link to create the page
3b. If the page does exist have a look at the page,
* If the topic is what you wanted to write about, talk to Christian or Josef
* If the page is not the topic you wanted to cover design a new name for the page and go back to step 1
4. Start writing on the page, if you need assistance for the formatting, look below or go to the [[Help:Contents|Help]] page

== Formatting and adding items to your page ==

=== Text ===
*Text formatting link: [http://www.mediawiki.org/wiki/Help:Formatting Formatting]

=== Images ===
*Images editing link: [http://www.mediawiki.org/wiki/Help:Images Images]
**Code: <nowiki>[[File:example.jpg]]</nowiki>

=== Videos ===
*EmbedVideo editing link: [http://www.mediawiki.org/wiki/Extension:EmbedVideo Videos]
**Code: <nowiki>{{#ev:youtube|video URL}}</nowiki>
**Code: <nowiki>{{#ev:youtube|video url|1000|right|Let eet GO|frame}}</nowiki>

=== References ===
*References Cite link: [http://www.mediawiki.org/wiki/Extension:Cite Cite]
**To create a reference link in the text like this <ref>[http://www.facstaff.bucknell.edu/ttoole/Toole%20PM%20Causal%20Loop%20Diagram.pdf A project management causal loop diagram, Toole, Michael, 2005.] </ref> write <nowiki><ref>[''link/title''] ''Name of link'' </ref></nowiki>
** Create a reference list like this one, by writing <nowiki><references /></nowiki> <references />

Josef's Topic Wishlist

2021-01-28T17:58:12Z

Jooehm:

Here are some topics that Josef thinks are awesome.

For all topics, please check the Concept Box linked from the [[Main_Page]] if the topic already exists.
You are very welcome to address a topic that is already there and focus on an aspect that is not yet covered.

In general, I '''strongly''' recommend focussing your Wiki-article on a '''specific tool'''. So instead of, say, trying to write about "risk management", write about "Monte Carlo Simulations for Cost Estimation" (risks in project -> risk management -> risk assessment -> quantitative methods -> Monte Carlo simulation -> Monte Carlo for Cost Estimation). At that level of detail, it will be much, much easier for you to write actionable advice with good examples.

My wish-list:
* Any specific method dealing with risk identification, risk analysis, risk evaluation, risk treatment, risk monitoring in the context of project, program and/or portfolio management.
* Any method dealing with the implementation and continuous improvement of risk management processes
* Any method addressing resilience in the context of project, program and portfolio management
* Any method that explicitly addresses risks, uncertainty, ignorance or ambiguity in project, program or portfolio management processes
* Any method helping to address uncertainty-related decision making biases

If you are not impressed by my focus on risk, I suggest to review the table of contents of the project, program and portfolio management standards that we share as part of the course literature. You can also dive into the various process frameworks introduced in the standards. Again, my recommendation is to pick a particular method, and not try and write about "project controls" in general.

Josef's Topic Wishlist

2021-01-28T17:56:09Z

Jooehm:

2016-09-12T08:13:25Z

Jooehm:

{| class="wikitable"
|+ '''Disclaimer!
|-
|''The requirements for the articles written during Fall Term 2015 were not the same as for Fall Term 2016. Please make sure you read the requirements for your own fall term carefully before starting your wiki article.''
|}

Please complete this table with your group number, full name, username and the title of your article.

To create more lines in the table click '''Edit''' and use the following code to create more lines in the table and replace the example text with your own information:

<pre style="white-space: pre-wrap;
white-space: -moz-pre-wrap;
white-space: -pre-wrap;
white-space: -o-pre-wrap;
word-wrap: break-word;">
|-
|Group Number
|First Name
|Last Name
|Username
|Link to Article
|-
</pre>
Create a direct link by making square brackets ([[ ]]) around the title such as [[Title]]

The straight lines ( | ) create columns and the straight line with a dash ( |- ) creates a new row in the table.

( |} ) is only used at the very end to finish the coding for the table.

=Overview of 2016 Wiki articles=

{| class="wikitable sortable"
|+Fall 2016 Wiki Articles
|-
!Group Number
!First Name
!Last Name
!Wiki User Name
!Link to Wiki article
|-
|
|Aitor
|Altuna
|aitor.altuna
|[[Knowledge management in projects and organizations]]
|-|
| 06
|Alexander Daniel
|Marcussen
|Alm92
|[[Understand best practices based on network mapping]]
|-
|15
|Alexander
|Michel
|Alexm
|[[Portfolio Management using the BCG-Matrix]]

|-
|
|Amedeo
|Mocchiutti
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|-
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|Anastasia
|Stella
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|-
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|Andrzej
|Stanek
|Andstan
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|-
|13
|Anika Zandra
|Alcoat
|zaac
||[[Risk and Opportunities Management]]
|-
|
|Anna
|Paparizou
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|-
|
|Anne
|Folkvard Petersen
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|-
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|Apostolos
|Bougas
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|Arjun Abraham
|Punnen
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|Arnaldo
|Landivar Taborga
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|Aromi
|Salot
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|-
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|Artem
|Chernyshev
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|-
|5
|Arvin
|Fattah
|Arvin
|[[Fault Tree Analysis in Projects]]
|-
|
|Astrid
|Greve Rokne
|
|
|-
|4
|Birthe
|Wohlenberg
|BWO
|[[Myers-Briggs Type Indicator]]
|-
|7
|Bjarni Jakob
|Gunnarsson
|Bjarni Jakob
|[[Risk management process]]
|-|
|
|Camilla Engstrøm
|Jensen
|
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|-
|14
|Camille
|Bortot
|Camille.Bortot
|[[International Project Management ]]
|-
|8
|Carl Johan Fokdal
|Christensen
|CJ
|[[Lean Design Management]]
|-
|
|Carlos
|Sanchez Garcia
|
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|-
|
|Chalida
|Jaidee
|Chalidaj
|[[The Critical Path Method in project planning]]
|-
|
|Charlotte Cecilie
|Søgaard
|
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|-
|
|Christian Haim
|Raben
|Christian
|[[Managing Portfolio Complexity]]
|-
|5
|Christian Lolk
|Thomsen
|
|[[Multi-criteria decision making (MCDM) for Project selection]]
|-
|3
|Christian Vindegaard
|Grønberg
|Vindegaard
|[[AHP as a Decision Making Tool in Projects, Programs and Portfolios]]
|-|
|2
|Christiane Steenbergh
|Myrup
|Chrisitane
|[[Last Planner System as a project management tool]]
|-
|
|Christoffer Koza
|Hansen
|Christoffer Koza
|[[Total Quality Management]]
|-|
|
|Clement Victor Emile
|Hammel
|
|
|-
|09
|Davide
|Paganini
|s155275
|[[Resource Allocation in Project Management]]
|-
|
|Edvinas
|Zamaratskis
|
|
|-
|8
|Erika
|di Pietro
|s155375
|[[Sustainability in Project and Portfolio Management]]
|-
|11
|Evdoxia
|Pertsinidou
|S151128
|[[Implementation of the project management phases in volunteer NGOs: The case of BEST]]
|-
|
|Evgeniya Ventsislavova
|Garkova
|s160807
|[[The Kaizen – Toyota KATA method]]
|-
|
|Ewa Joanna
|Kunkel
|
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|-
|
|Fabricio Gasparin
|Lucchesi
|
|
|-
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|Federico
|Riccardo
|
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|-
|
|Filip Møller Knudsen
|Knudsen
|Fmk
|[[Risk Management In Construction Projects]]
|-
|
|Filippo
|Gioanina
|
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|-
|
|Franziska
|Schorr
|
|
|-
|3
|Frederik
|Skjoldborg
|S113430
|[[Challenges_in_cross-cultural_project_management]]
|-
|
|Georg Maximilian Ruven
|Schriewersmann
|Mschriew
|[[Reference class forecasting and the corresponding limitations]]
|-
|
|Georgios
|Nikou
|
|
|-
|
|Gudjon
|Arngrimsson
|
|
|-
|7
|Gudrún Thóra
|Reynisdóttir
|s124692
|[[Critical-Chain Approach]]
|-
|
|Gunnar Thorlakur
|Thorsson
|
|
|-
|12
|Iðunn Tara
|Ásgrímsdóttir
|IdunnTara
|[[Theory of Constraints in Software Development]]
|-
|
|Igor
|Juko
|
|
|-
|
|Ingrid
|Berg
|
|
|-
|13
|Ioannis
|Milakas-Tsamouras
|Z4p2od
|[[Stakeholder Mapping]]
|-
|01
|Jeanette Garst
|Johansen
|JeanetteGJ
|[[The use of Gantt chart in project management]]
|-
|
|Jens Dines Obel
|Jepsen
|DinesObelJepsen
|[[Logical Framework Approach in Project Planning]]
|-
|
|João Pedro
|Castro
|
|
|-
|
|Johan Knudegaard
|Engesgaard
|
|
|-
|
|Jorge Horacio
|Ramirez Basurto
|
|
|-
|11
|Jose de Jesus
|Cruz Contreras
|ppmex84
|[[The light at the end of the tunnel: managing challenges at Heathrow Express Project]]
|-
|10
|Joseph
|Kurian
|s150917
|[[Value Chain Analysis]]
|-
|15
|Kai-Sören Sokolowski
|Sokolowski
|Kai
|[[Scrum in the context of lean and agile project management]]
|-
|4
|Katrine Bager
|Olesen
|S113525
|[[The Decision Matrix]]
|-
|10
|Line Hye Sun
|Elmshøj
|s123449
|[[Knowledge sharing in project management]]
|-
|
|Magnus
|Schulz
|MSchulz
|[[Earned Value Analysis]]
|-
|15
|Marco
|Carloni
|
|[[Visual tool method: bubble diagram]]
|-
|13
|Marco
|Ronzoni
|Marcoronzoni
|[[The Delphi Technique in Project Management]]
|-
|8
|Maria Vittoria
|Onori
|M vittoria
|[[Managing Projects with Earned Value Management]]
|-
|11
|Maria
|Saridaki
|SaridakiM
|[[Building Information Modeling in project management]]
|-
|
|Marit Moberg
|Vossgård
|MAVO
|[[Kanban in Project Management]]
|-
|11
|Marouana Oulfat
|Afroukh
|S152191
|[[Managing Group Development using the Johari Window]]
|-
|
|Matilde Nygaard
|Pedersen
|
|
|-
|
|Mehmet Cagri
|Hekim
|
|
|-
|2
|Mie Louise Elsborg
|Drejer
|Mie Drejer
| [[VDC as a project management tool on construction projects ]]
|-
|
|Miguel Martínez
|Montaña
|
|
|-
|13
|Natacha
|Leduc
|natacha
|[[How to successfully go through the Five Stages of Team Development]]
|-
|13
|Nicklas
|Risager
|Gnoff
|[[The Leader's role and how it differs betwen projects, programs and portfolios]]
|-
|
|Niels Aksel
|Madsen
|
|
|-
|6
|Niels Christian
|Kirk
|Kirk1993
|[[Leading the group]]
|-
|
|Nikolaj Friis
|Hansen
|
|
|-
|
|Nikolaos
|Gavriilidis
|Nikolaos
|[[Cost Estimation Techniques for Projects]]
|-
|7
|Olöf Run
|Sigurjonsdottir
|s150964
|[[Critical Path Methods]]
|-
|
|Pablo Jose Guerra
|Guerra
|
|
|-
|6
|Phillip
|Hasselbalch
|Tjimo
|[[Best Practices for Project Portfolio Selection]]
|-
|7
|Ragna
|Helgadóttir
|S155273
|[[Lean Management and use of the Last Planner System in Construction Projects]]
|-
|
|Raivo
|Kalderauskis
|Raivo Kalderauskis
|[[Advantages of BIM for management of building projects ]]
|-
|14
|Raphaël
|Lassaux
|Lassauxr
|[[Management of remote project]]
|-
|
|Riccardo
|Ferranti
|
|
|-
|01
|Rikke Klavstrup
|Wittendorff
|RikkeWitten
|[[Information and Communication Technology (ICT) Management in construction]]
|-
|
|Robin
|Hertenberger
|RobinH
|[[Stakeholder Management in Wind Power Projects]]
|-
|
|Romain
|Clouzeau
|Romain Clouzeau
|[[Including Risk Management in Construction Projects]]
|-
|
|Rosa Elisabeth
|Lindqvist
|Relindqvist
|[[Facilitated Work Sessions]]
|-
|
|Sanka Chrishan
|Hettiarachchi Gunawardena
|
|
|-
|16
|Sean
|O'Regan
|OReganS
|[[Stakeholder Expectations Management]]
|-
|16
|Sebastian
|Bauer
|Sebastian Bauer
|[[Roadmapping in Program Management]]
|-
|10
|Selma Lind
|Jonsdottir
|S151176
|[[The Critical Path Method (CPM) in Project Management]]
|-
|
|Sheren
|Agbarie
|
|
|-
|4
|Signe Skovmand
|Jakobsen
|SSJ
|[[Visual Project Management - War Rooms]]
|-
|
|Siri
|Lassen-Urdahl
|
|
|-
|16
|Sofia
|Griggio
|SofiaGriggio
|[[The Agile methodology and its frameworks]]
|-
|4
|Sofie
|Olesen
|s104809
|[[Project Management Maturity Model]]
|-
|4
|Somar Faraj
|Hassan
|Somar
|[[TFV-model]]
|-
|15
|Stefan
|Schenk
|Stefan.schenk
|[[Challenges and Execution of Innovation Portfolio Management]]
|-
|5
|Stefan Borch
|Bilfeldt
|Stefan
|[[Risk-Reward Bubble Diagrams in Project Portfolio Prioritization]]
|-
|
|Stefán Geir
|Sigfússon
|
|
|-
|9
|Sveinn
|Isleifsson
|Sveinnis
|[[Project Quality Management]]
|-
|
|Swaroop Kumar
|Sahu
|
|
|-
|
|Thorgeir
|Sveinsson
|thorgeir11
|[[Earned Value Management (EVM) in construction projects]]
|-
|
|Tim
|Jonas
|
|
|-
|
|Timea-Denisa
|Merca
|
|
|-
|
|Timokleia
|Orfanidou
|
|
|-
|6
|Tobias Lyck Bjært
| Sørensen
|Tobias Sørensen
|[[Stakeholder Network]]
|-
|2
|Trine
|Marquardsen
|Trinemarquardsen
|[[Managing Stakeholders in Construction]]
|-
|
|Vittorio
|Albertazzi
|
|
|-
|16
|Wilfried
|Genier
|Wilfried_Genier
|[[Valuation methods in Project Portfolio Optimization - Focus on Real Options]]
|-
|
|Yann Mamy
|Randrianarison
|
|
|-
|
|Yin
|Jia
|
|
|-
|11
|Zsofia Dora
|Helmeczi
|s155698
|[[The use of Last Planner System in highly specialised construction projects]]
|-
|12
|Jakob
|Rolfsson
|s150892
|[[Scrum method]]
|-
|-
|8
|Tabea
|Ramirez Hernandez
|s152377
|[[Project Management in the Fuzzy Front End]]
|-
|-
|12
|Fridrik
|Karlsson
|s150948
|[[Scrum an Agile Framework]]
|-
</pre>

User:SKS534

2016-09-12T08:07:10Z

Jooehm: Creating user page for new user.

User:Davide.paganini

2016-09-12T08:07:04Z

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User:S150918

2016-09-12T08:06:58Z

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User:AnneFolkvard

2016-09-12T08:06:51Z

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User:Carlos145

2016-09-12T08:06:45Z

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User:Marcocarloni

2016-09-12T08:06:39Z

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User:S150994

2016-09-12T08:06:33Z

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User:JCastro

2016-09-12T08:06:28Z

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User:Archer

2016-09-12T08:06:21Z

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User:ARCR

2016-09-12T08:06:15Z

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User:S163647

2016-09-12T08:06:02Z

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The Oticon Case: the Spaghetti organisation

2015-10-09T13:18:08Z

Jooehm:

[[File:PerformanceDomains.png|300px | thumb| |'''Figure 1:''' Program Management Performance Domains. <ref name=PMI1/>]]
The Spaghetti organisation was the result of a radical change that undergo the danish hearing manufacturer Oticon. When in 1988 Lars Kolind took over as the CEO, the market share of the company had dropped dramatically. That situation called for a revolution in the company in order to remain competitive. Back then, the company was up against big companies like Siemens, Philips, Sony, M3 and AT&T. It was impossible to compete against them on financial resources, technology or marketing. The only way to remain competitive was to create something that the big companies would never be able to replicate: an innovative fast-moving organisation.

As a result of the radical nature of the change, the necessary program to make it happen was extremely complex. The new organisation aimed to modify all the interactions between the different parts of the company, and, consequently, the behaviours produced as a result of those interactions. Therefore, it was crucial a strong leadership in order to create clear directions and ensure effective communication to speed up the "sense-making process"<ref name=complexity/>. This article aims to analyse the leadership of Lars Kolind in order to highlight which points lead to the successful implementation of the change.

In order to approach the case from a program management point of view, it is necessary to see which domains of that discipline are related with leadership. As it can be seen in Figure 1, the different domains of a project management performance are basically four: the Program Strategy Alignment, the Program Benefits Management, the Program Stakeholder Engagement, the Program Governance, and the Program Stakeholder Engagement<ref name=PMI1/>. Among those, the ones related with leadership are the Program Strategy Alignment and the Program Stakeholder Engagement. Throughout this article those two domains are analysed in the case at hand.

It can be argued if the Program Governance is also related with leadership. If we consider the definition of the Project Management Institute, "Program Governance ensures decision-making and delivery management activities are focused on achieving program goals in a consistent manner, addressing appropriate risks, and fulﬁ lling stakeholder requirements.”<ref >[http://proquestcombo.safaribooksonline.com.proxy.findit.dtu.dk/9781933890524/228#X2ludGVybmFsX0J2ZGVwRmxhc2hSZWFkZXI/eG1saWQ9OTc4MTkzMzg5MDUyNC8yMzI=/Project Management Institute(2008), ''The Standard for Program Management'', PMI Publications, 2nd ed, Pennsylvania: , pg. 243 ]</ref>. Therefore , its competences are more related with management than with leadership. <ref name="Bennis" group="footnotes"> ''Managing is about "doing things right" and leadership is about "doing the right things"'' (Bennis and Nanus, 1985, p. 21)</ref>. Another important aspect to highlight is the importance of the Program of Communications. Although the article does not contain a specific section about it, the most relevant parts have been analysed along the text.

=Context=

Once Lars Kolind was appointed CEO of Oticon, a period of rationalisation and cost-cutting started. During his first years as CEO, Kolind undergo a diagnosis of the company by meeting with clients and managers, analysing all the different parts of the company and understanding the market where they where competing. Then, in 1990 he announced a broad package of innovative and radical measures in the job design, the organisational structure, the physical layout of the company and the way of sharing information. This changes lead to a new organisation known as the Spaghetti organisation due to its lack of structure (e.g. there was neither managers nor subordinates; everything was "entangled"). Some of those changes included:

1. To go from a hierarchical organisation to a project-oriented one. In that organisation, every employee was involved in more than one project at the same time. Those projects were usually cross-functional and cross-organisational and were considered as "business units", with their own resources, time, schedule and success criteria.

2. To change from a rule-based, departmentalised hierarchical engineering culture to a customer-focused, flexible, innovative business culture.

3. All current job titles disappeared. The managerial authority was transferred to the project groups or the individual employees. There were no more managers, only project leaders that were chosen by the members of the group. Moreover, there was the figure of the mentor. Those ones were responsible to coach and support a number of staff members. These members had to voluntarily choose them as their mentor.

3. Oticon became a paperless organisation. Computers were introduced in the every day life of the company. All incoming mails were scanned and new systems to share the information were created. It has to be said that by then, people did not know how to use computers.

4. The office became an open space office. Every worker had a trolley that could be used to move easily from one project to another. The organisation moved the headquarters to a new building that fulfilled the requirements of the new working space.

5. The hearing aids changed completely. First, switching from Behind The Ear (BTE) to Inside The Ear (ITE) hearing aids. Second, using digital processors instead of analogue processors.

==The challenge==

A big change started and the unstructured organisation was in the edge of the chaos. The limited resources of the company challenged the planning of its CEO. First, the financial situation of the company constrained the room for manoeuvre of Kolind. Second, the employees were not ready for some of the new processes that the new company required. For instance, a paperless organisation required a staff with advanced computer skills. However, during the 90s, the computers were a new technology in the market and not everyone knew how to use them. Another example is the fact of eliminating all the job titles. Some managers did not find their place in the new organisation. That challenged the program as well, as it was difficult to have the right people in the right position. The only way to deal with that chaos was a strong leadership.

=Solution=
As it has been explained in previous sections, the radical change of Oticon put the organisation in the edge of the chaos. One of the key factors to avoid the disaster was the strong leadership of the CEO. Along this chapter, the most important aspects of his leadership will be analysed.

==Type of leadership==
[[File:TransformationalLeadership.png|300px | thumb| |'''Figure 2:'''Transformational leadership ]]

One of the reasons for why Lars Kolind did the right things<ref name=Bennis group=footnotes/> was because of the type of leadership he embraced. Hence, before analysing the different aspects of the program management, it is necessary to understand how Lars Kolind approached the situation while being the CEO of Oticon. That way, it will be easier to understand one of the key factors of the success of the program.
According, to Marc C. Bojeun<ref name="Bojeun">[http://findit.dtu.dk/en/catalog/245181392/Mark C , Bojeun (2014). ''Program Management Leadership. Creating succesful team dynamics''. Florida. Taylor and Francis group , pg 81-118.]</ref>, it exist different types of leadership within the program management. Some of the most important are the transactional and transformational types. On the one hand, the transactional leadership focuses on the role of supervision, organisation and group performance. This type of leadership is based on the assumption that the only motivation of the worker is his own gain. Therefore, in order to improve the performance of the group is necessary some extrinsic motivation as additional salary, time off when the program is completed, potential promotion, not loose one's job, etc. On the other hand, the transformational leadership is based on a more charismatic, inspirational and intellectual leader. A leader who uses this approach intrinsically motivates and empowers his employees by creating a common vision, a common goal.
Any leader is neither 100 percent transactional nor transformational. Nevertheless, it can be argued that Lars Kolind was mostly transformational. The new organisation that he promoted strongly relied on the empowerment of the employees and his intrinsic motivation. The individuals were informed enough to understand their role in the organisation and the teams were driven by objectives. Therefore, Kolind strongly believed in the Theory Y<ref>[http://web.a.ebscohost.com.proxy.findit.dtu.dk/ehost/pdfviewer/pdfviewer?vid=1&sid=445c862c-3c38-463d-a557-6a9d06c856da%40sessionmgr4001&hid=4101/John J. Morse and Jay W. Lorch(2009). ''Beyond Theory Y''.Cambridge. Harvard Business Publishing Newsletter]</ref>, counting on the positive nature of people. In that sense, it should be pointed out that the fact of creating a strong culture around the new organisation made less necessary to apply command and control techniques <ref name=Bojeun/>. However, he also applied some supervision of the employees. For instance, once a year, all the employees had a meeting with their mentors to discuss their performance during the year and readjust their salaries accordingly.

==Strategy Alignment==
[[File:StratergyAlignment.png|350px | thumb| |'''Figure 3:''' Program strategy alignment ]]
The radical change that Oticon underwent resulted in a several number of projects. Some of those had very different nature and where not interrelated at all. Hence, a perfect alignment of all of them was imperative for not making a complicated program out of a complex one<ref name="complexity">[http://orbit.dtu.dk/fedora/objects/orbit:139407/datastreams/file_36bb57e6-4a1a-4ed9-9af3-e3cedfd75e23/content/Josef Oehmen, Christian Thuesen, Pedro Parraguez Ruiz and Joana Geraldi (2010). ''Complexity Management for Projects, Programmes, and Porfolios. An Engineering Systems Perspective.'' Project Management Institute. White Paper, pg 5-11]</ref>. In order to manage the strategy alignment of the different projects and processes, the program manager should address four different elements: the program business case, the program plan, the program roadmap and the environmental assessment. <ref name="wikichange">[http://apppm.man.dtu.dk/index.php/The_Role_of_Program_Management_in_an_Organisational_Change , The Role of Program Management in an Organisational Change, September, 2015]</ref>. Among those aspects, the one strongly related with leadership is the program plan.
The program plan aims to clarify the organisation concept, vision, mission and benefits produced by the program <ref name="wikichange"/>. This task was exceptionally performed by Lars Kolind, who was able to define a clear vision, under the motto ''Think the unthinkable'', as well as a clear a mission: "help people (with impaired hearing) to live as they wish with the hearing they have"<ref name=JOMIE/>. By clearly defining those two concepts and efficiently communicate them to all the stakeholders, he created a strong shared sense of direction and gave sense to the program <ref name="change">[''Hayes John'' (2010). The Theory and Practice of Change Management. 5rd ed. New York: PALGRAVE MACMALLIN, pg 167-183.]</ref>. It should also be pointed out that he also clarify the benefits of his program to the different stakeholders. For instance, when the program was launched, he sent a newsletter to all the employees of the company explaining why the company needed that change and which benefits the program will produce. Some days after, a meeting with all the employees took place. It aimed to clarify all the possible doubts they could have.

==Stakeholder management==
[[File:Program stakeholder engagement.png | 300px | thumb| |'''Figure 4:''' Program stakeholder management <ref name=PMI1/>]]

Stakeholder management is an important factor to take into account in every organisational change. It is necessary to identify which stakeholders will be affected and evaluate what's their degree of commitment and their power. To increase their commitment, the program manager must communicate a clear vision of the need of change to all the individuals affected. He must set clear goals, see when is necessary the change, plan the change, monitor the change and manage the people issues along the change<ref name="PMI1">[http://proquestcombo.safaribooksonline.com.proxy.findit.dtu.dk/9781933890524/228#X2ludGVybmFsX0J2ZGVwRmxhc2hSZWFkZXI/eG1saWQ9OTc4MTkzMzg5MDUyNC8yMzI=/Project Managment Institute(2008), ''The Standard for Program Management'', PMI Publications, 2nd ed, Pennsylvania: , pg 227-241 ]</ref>. As it can be seen in Figure 4, the Stakeholder management can be divided in three steps: identification, engagement and management of expectations. One of the key factors of the success of the change process of Oticon was that Kolind followed those steps.

===Identify Program Stakeholders===

During his first years as CEO, he met several clients in order to understand their concerns and what was their idea of Oticon. That was crucial to set an effective goal that lead Oticon to became the leader of hearing aids. Moreover, he met with internal stakeholders as managers and employees of different departments. He asked them what they thought was the vision of the company and why they thought the company was in such trouble<ref name=JOMIE/>. That was useful to understand the misunderstanding inside the company and later align the different departments with the strategy of the company. Finally, he also figured out which ones where the relations between the different departments and what was each department exactly doing.

===Engage Program Stakeholders===

Then, it was necessary to plan how engage and manage the different individuals involved. At that point, the most critical point was to create a clear shared vision with all the stakeholders. Until then, the vision of the company was "leaders in hearing technology". When the change started, the vision became "helping people (with impaired hearing) to live as they wish with the hearing they have" <ref name="JOMIE">"Lars Kolind. ''The second Cycle. Winning the War Against Burecracy'', Wharton School Publishing.</ref>. This motto and putting the new focus on the hearing care profesional instead of the end user created a clear and common vision.

Apart from the vision, another aspect to take into account while dealing with the stakeholders engagement is the communication. Within a company, several channels are used, but only one message is wanted to be transmitted. That's why is important to plan how to transmit the message. The strategy used by Kolind was to send a newsletter titled "Think the Unthinkable" <ref name=JOMIE/> explaining all the different changes he wanted to perform. Some days after, a meeting with all the employees took place. It aimed to clarify all the possible doubts they had. Anyone was obliged to go, but almost everyone went. He explained the idea and, in order to involve the employees in the process, he let them vote who wanted to be part of the project. Most of the audience respond positively. They were engaged in the change process. This commitment was crucial in further situations. For instance, due to the lack of financial resources, the company gave the option to the employees to invest money in the company. The first who invested was Lars Kolind<ref name=JOMIE/>, fact that increased even more the commitment among the other employees. Kolind embraced this practice <ref name=”LOO” group="footnotes">[ ''You don’t lead by pointing and telling people some place to go. You lead by going to that place and making a case.''
—Ken Kesey]</ref> in further situations. For example, as any employee of the company had an office, he did not have one neither <ref name=JOMIE/>.

Not only the internal stakeholder where addressed. Kolind also took care of the clients asking which were they concerns and what they were looking for in a product<ref name=JOMIE/>. Those inputs were really important to decide the vision of the company and choose the new projects to develop, while they engaged the clients in the change process.

===Manage stakeholders expectations===
[[File:Transition_phases.png|300px | thumb| |'''Figure 5:'''Transition phases in a change process <ref>[''Hayes John'' (2010). The Theory and Practice of Change Management. 5rd ed. New York: PALGRAVE MACMALLIN, pg 261.]</ref> ]]
Another important aspect when managing the stakeholders is to take into account which expectations they have. If a program negatively affects a stakeholder, it is necessary to mitigate the impact in order to maintain the stakeholders involved <ref name=PMI1/>. In that sense, it is important to make sure that stakeholders expectations are based on accurate information. Therefore, once more, it is important an effective communication.

In the present case, one of the biggest problems of the new organisation was to remove all the job titles. This fact created two major problems within the company. First, the resistance of the senior and middle managers. Their expectations of loosing their benefits and power in the new organisation put them against the process. Frequently, during a change process, the stakeholders who don't support the change use to go through eight different stages: shock, anger, denial, depression, acceptance of reality, testing, consolidation and internalisation (see Figure 4). Therefore, the task of the program manager is to contain the denial phase (e.g. not negatively affect the other stakeholders) and emotionally support the stakeholders during the depression part. Lars Kolind said: “One day a former middle manager came to me to discuss (…) he openly admitted that he did not know what to do for the company.” <ref name=JOMIE/>. At that point, the former middle manager was entering in the depression phase. The duty of a good leader was to support him emotionally. Kolind made him see that he was not only a manager, but also a great specialist. That, made the middle manager decide to return to the specialist role: “He admitted that when he had been promoted to department head, the company had lost a good specialist, and gotten a bad leader in return.” <ref name=JOMIE/>. In that example, we can see how Kolind was able to influence the middle manager, affecting his beliefs and attitude towards the organisation.
Apart from the resistance of the middle managers, another problem arose. Some people felt frustrated because it was not possible to get promoted in the organisation <ref>[Henrik Holt Larsen (2003).''Oticon: Unorthodox Project-Based Management and Careers in a "Spaghetti Organization"''.Institut of Organization and Industrial Sociology. Copenhagen Business School </ref>. The fact of not having job titles made impossible to get promoted. The salary was fixed according to the contribution of each individual to the organisation. That extreme competitiveness made some employees not to feel comfortable. Even thought there was not a formal hierarchy, a “natural hierarchy” was created as some projects were more successful than others and some groups were more productive. In that case, Kolind couldn’t do anything, as this problem was a collateral effect of the same nature of the organisation.

=Implication=

During his years as CEO of Oticon, Lars Kolind promoted a completely new type of organisation. The lack of hierarchy, the scarce resources and the need of fast improvements made the program extremely complex. Thus, a good leader was necessary to handle the situation and avoid the chaos.
This is the fundamental contribution of that case to program management. Lars Kolind was an example of transformational leadership, leading his employees to a successful change process by inspiring and intrinsically motivating them. When he took over as the CEO, the company was running against big firms with more financial resources and more technology. The only way of being competitive was to create a fast-moving and innovative organisation. Consequently, the program needed to be fast-moving as well, resulting in less control processes and substantial delegation of power. This challenged the best practices of program management. Therefore, the success of the Spaghetti organisation can only be explained by the strong leadership of its CEO.
From this case various lessons can be extrapolated to future similar cases. First of all, the fact that Kolind was able to rapidly define a clear vision and mission was one of the secrets of the success of the program. When an organisation or individual goes through a change, it is important to minimise the "non-sense stage" as usually people tend to reject what they don't understand. Second, Kolind performed really good gaining the support of the people. The fact of being completely transparent and involving employees in the process resulted in a massive commitment. In that regard, one of the most impressive achievements was that he solved the problem of the scarce financial resources of the company by engaging the employees in buying assets of the organisation. In that cased, Kolind invested first, leading by example. Finally, it was important how the leader supported the people during the change process. He was a close leader, ready to talk with any employee and emotionally support him. That is something important during the change in order to avoid people to be depressed and negatively affect to the motivation of the whole group.
==Notes==
<References group= "footnotes"/>

==Annotated bibliography==

''Mark C , Bojeun (2014). Program Management Leadership. Creating succesful team dynamics. Florida: Taylor and Francis group'': This book approaches the program management from a leadership point of view. It is interesting to notice the different types of leaderships and how they can maximise the income of your program. Along the article only two types have been explained, but a lot of other different types exist. Moreover, it is explained how the type of leadership chosen has a direct influence on the group dynamics. Throughout that book the the relation between this three concepts (e.g. Program Management, Leadership and Group Dynamics) is highlighted. In order to understand the success of the Oticon case it is very useful to have a clear idea of this relation.

''Hayes John (2010). The Theory and Practice of Change Management. 5rd ed. New York: PALGRAVE MACMALLIN'': This book explains in detail the different aspects to consider while going through a change process. It can be useful to understand why the individuals act the way they act and how it can affect to your program. Different chapters explain the best ways to manage the people issues and how to create a huge commitment of the stakeholders. Apart from that, other aspects related with Change Management can be found. The book is divided according to the different stages that all change process should address, from recognising the need of change to learn form it.

''Hans J. Thamhain and David L. WIELMON (1997). Leadership effectiveness in program management. IEEE Transactions on engineering management. VOL. EM-24, NO3'': This article reports the results of an exploratory field study of the effectiveness of different leadership styles in various project-oriented work environments. It explains that there is not a best type of leadership. It depends on the environment and on other particular conditions of the case. It can be interesting in order to understand why the leadership applied by Lars Kolind was the best according to the particular situation. The Oticon case is a nice example to understand the theory offered by that article.

''Lars Kolind. The second Cycle. Winning the War Against Burecracy, Wharton School Publishing.'': Along this book, Lars Kolind, the CEO that undego the successful radical change of Oticon, explains the case form his point of view. It is interesting to see how he figured out the solutions of the different problems he found along the way. The book goes from 1988, when he took over as the CEO of Oticon, until 1998, when he left the company. Although it might be a bit biased, the information provided is highly useful. During all this years different projects were executed. The way Lars dealt with all of them, aligning all the different stakeholders, is a powerful source of inspiration.

== References==
<References/>

[[Category:Change Management]]
[[Category:Program Management]]
[[Category:Leadership]]
[[Category:Program Strategy Alignment]]
[[Category:Program Stakeholder Analysis]]

User:S141592

2015-09-23T07:46:23Z

Jooehm: Creating user page for new user.

User:Michaelnguyendtu

2015-09-18T06:43:00Z

Jooehm: Creating user page for new user.

Talk:Organisational resilience with mindfulness

2015-09-17T10:04:02Z

Jooehm:

Josef: Hello, thank you for an interesting proposal. I really like the idea. Please make sure to go back to the original literature (e.g. Weick, see our whitepaper), and also follow the "Method" structure we propose. Also please make sure that you do not end up writing about "organizational resilience" in general, but making projects more resilient.

Talk:Organisational resilience with mindfulness

2015-09-17T10:03:27Z

Jooehm: Created page with "Josef: Hello, thank you for an interesting proposal. I really like the idea. Please make sure to go back to the original literature (e.g. Weick, see our whitepaper), and also ..."

Talk:Critical path optimization in construction management

2015-09-17T09:51:40Z

Jooehm: Created page with "Josef: Hello, thank you for an intersting proposoal. I like the abstract, but I am not entirely sure the title fits the text. Are you writing about critical path optimization,..."

Josef: Hello, thank you for an intersting proposoal. I like the abstract, but I am not entirely sure the title fits the text. Are you writing about critical path optimization, or the application of modularity / prefabricated elements in construction? It seems to be the latter, which is perfectly fine, but then I suggest calling the article something like "Improving construction project management by product modularization" (or something like that). THen please make sure that you follow the "method" structure, as well making a clear link to project management practice.

Talk:Application of Antifragility in Project Management

2015-09-17T09:23:35Z

Jooehm: Created page with "Josef: Hello, I really like your idea of looking at antifragility and its application in project management. However, I am not entirely sure if your discussion of "simulating ..."

Josef: Hello, I really like your idea of looking at antifragility and its application in project management. However, I am not entirely sure if your discussion of "simulating failure scenarios" and "upside/downside risks" fits the heading. If you look at our PMI whitepaper, you will find a few categories/principles of Antifragiltiy and their application to project management. Nassim Taleb's book (which I reckon you must read if you were to write about Antifragility) contains many more possible points of "connection". I suggest to take that as a "point of departure", and see what you can apply how to project management.

Articles Fall Term 2015

2015-09-16T14:06:06Z

Jooehm: /* Overview of 2015 Wiki Articles */

Please complete this table with your name, user name and the title of your article.

To create more lines in the table click '''Edit''' and use the following code to create more lines in the table and replace the example text with your own information:

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|Group Number
|Last Name
|First Name
|Username
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Create a direct link by making square brackets around the title [[Title]] (Case sensitive)

The straight lines ( | ) create columns and the straight line with a dash ( |- ) creates a new row in the table.
( |} ) is only used at the very end to finish the coding for the table.
</pre>

=Overview of 2015 Wiki Articles=

{| class="wikitable sortable"
|+Fall 2015 Wiki Articles
|-
!Group Number
!Last Name
!First Name
!User Name
!Link to article
|-
|Group 12
|Gkatzalas
|Nikolaos
|s141569
|[[The Gantt chart and the usage nowadays]]
|-
|Group 6
|Lymperis
|Konstantinos
|s142330
|[[Risk Management in Oil and Gas Industry]]
|-
|Group 3
|Filis
|Charalampos
|Ch.filis
|[[Project Risk Management and Project Risk Management Processes]]
|-
|Group 11
|Larsen
|Leonora
|s112910
|[[Gantt Charts as a Tool for Project Management]]
|-
|Group 10
|Sala Vilar
|Lluís Ròmul
|s141586
|[[Portfolio Management in a Startup]]
|-
|Group 14
|Pitsavas
|Konstantinos
|Konspits
|[[Modularisation: A modern process for project management]]
|-
|Group 2
|Kampianakis
|Andreas
|s150912
|[[Financial Portfolio Optimization Methods]]'''
|-
|Group 13
|Penzes
|Balint
|s141943
|[[Product development and portfolio management processes at LEGO]]
|-
|Group 6
|Hozmache
|Mihaela
|s146898
|[[Risk Management]]'''
|-
|Group 14
|Le Corre
|Damien
|Damien
|[[Game theory in project management]]'''
|-
|Group 14
|Bertrand
|Fabien
|150477
|[[Multi project management]]'''
|-
|Group 9
|Cassel
|Sara
|Sarac
|[[The benefits of systems engineering]]'''
|-
|Group 13
|Sergi
|Gibaja Musachs
|S141926
|[[Rapid Application Development in Extreme Project Management]]'''
|-
|Group 14
|Poza
|María
|s150793
|[[Integrated Cost and Schedule Control]]'''
|-
|Group 6
|Kulikova
|Nataliia
|s140767
|[[SCRUM Method]]
|-
|Group 4
|Pekala
|Adam
|Adam.pekala
|[[Critical Path Method in Construction Industry]]
|-
|Group 10
|Garnotel
|Gaëtan
|gaetangarnotel
|[[V-Model]]
|-
|Group 4
|Ghanizada
|Naweed
|S103745
|[[PRINCE2, A Project Management Methodology]]
|-
|Group 1
|Jacobsen
|Martin
|MistaJacob
|[[Mindfulness and Cognitive Biases in Project Management]]
|-
|Group 6
|Ferraresi
|Fabrizio
|S150905
|[[Projects in Controlled Environments, a process-based approach for project management]]
|-
|Group 5
|Tanghus
|Bjarke
|S113815
|[[Location Based Scheduling]]
|-
|Group 9
|Højgaard Hindhede
|Daniel
|S143352
|[[ Critical path optimization in construction management]]
|-
|Group 10
|Gayot
|Charles-Henri
|s141074
|[[Responsibility Assignment Matrix (RACI Matrix)]]
|-
|Group 12
|Thorp Sørensen
|Anders
|s103183
|[[The Gantt Chart]]
|-
|Group 3
|Makris
|Dimitrios
|Dimak
|[[Benchmarking in Project Management]]
|-
|Group 7
|Greiling
|Lea
|Lea
|[[Lean in Project Management]]
|-
|Group 8
|Latorre Duque
|Ana
|Ana
| [[Modularity and Black-Boxing]]
|-
|Group 7
|Almanzi
|Stefano
|S141530
|[[ Work Breakdown Structure (WBS)]]
|-
|Group 12
|Montagner
|Giacomo
|S150821
|[[Scrum Methodology in the Agile Project Management]]
|-
|Group 14
|Ruiz Muñoz
|Gustavo Adolfo
|S121408
| [[Lean 6 Sigma in project management]]
|-
|Group 3
|Kalmus
|Thomas
|S141938
| [[Program evaluation and review technique (PERT) ]]
|-
|Group 12
|Gudmundsson
|Arnar Gauti
|S141543
|[[Program management in change management]]
|-
|Group 5
|Jacobsen
|Ian Thobias
|S113735
|[[Story Points Estimation]]
|-
|Group 11
|Boesgaard
|Katrine
|KB1991
|[[Gantt Chart]]
|-
|Group 5
|Sorth-Olsen
|Rasmus
|Sorth90
|[[Lean as a project management tool]]
|-
|Group 13
|Salling
|Stephanie
|StephSalling
|[[Management in E. Pihl & Søn A/S]]
|-
|Group 6
|Ruina
|Jessica Linda
|Jejenji
|[[Scheduling techniques in Project Management]]
|-
|Group 4
|Gjerstrup
|Jacob
|s113440
|[[Fault tree analysis]]
|-
|Group 11
|Lynge
|Jane
|s997303
|[[Theory of Constraint]]
|-
|Group 8
|Palmerini
|Alessandro
|alex161
|[[Project Management Communication]]
|-
|Group 2
|Tvedt
|Ida Marie
|IMT
|[[BREEAM - project management and sustainable development]]
|-
|Group 2
|Søndenaa
|Mathilde Hanssen
|s150621
|[[Critical chain project management (CCPM)]]
|-
|Group 9
|Helassalo
|Antti
|s141506
|[[Development phase of idea to project]]
|-
|Group 9
|Thorning-Schmidt
|Nanna
|Nannats
|[[Earned Value Management]]
|-
|Group 10
|Bureika
|Edvinas
|s141931
|[[Communication in Project Management]]
|-
|Group 1
|Rasmussen
|Marie-Louise
|DI2009
|[[Cross cultural teamwork]]
|-
|Group
|Lara Hoces
|Fernando
|s131882
|[[The Oticon Case: the Spaghetti organisation]]
|-
|Group 13
|Christos
|Stamatis
|S145170
|[[Olympic Games London 2012: When the client strives for innovation (The London model)]]'''
|-
|Group 5
|Moe
|Elizabeth Lindhard
|113129
|[[Contracting as a PM]]
|-
|Group 3
|Lessis
|Vasileios
|lessisv
|[[Rational Unified Process (RUP)]]
|-
|Group 8
|Klibo Buur
|Christian
|Buurbuur
|[[Project Execution Model (PEM)]]
|-
|Group 8
|Bachmann
|Thomas
|s117318
|[[Lean Tools in Project Management]]
|-
|Group 11
|Vilar Bustos
|Alberto
|s142581
|[[Minimizing Risk and Uncertainties in Construction Projects]]
|-
|Group 1
|Trap Wiegandt
|Sissel
|s112195
|[[The Critical Path Method (CPM)]]
|-
|Group 2
|Christensen
|Britt Marie Lekven
|brittmch
|[[Lean in building and construction industry]]
|-
|Group 5
|Vestergaard Andersen
|Andreas
|AndreasAndersen
|[[Management of Project Change ]]
|-
|Group 7
|Ann-Elise
|Gustavsen
|Alise
|[[Stakeholder Analysis and Matrices ]]
|-
|Group 2
|Krogh
|Daniel
|DanielKrogh
|[[Managing Uncertainty and Risk on the Project]]
|-
|Group 7
|Fabio
|Labrini
|s142911
|[[Critical Chain Project Management to cope with uncertainty]]
|-
|Group 1
|Viig
|Oliver Johannes
|s102935
|[[BIM as a project management tool on construction projects]]
|-
|Group 8
|Federico
|Sbernini
|s141573
|[[The critical path method as input for quantitative schedule risk assessment]]
|-
|Group 12
|Augustin
|Bouet
|s142823
|[[Metra Potential Method]]
|-
|Group 7
|Eva Schultz
|Hansen
|s112960
|[[The Role of Boundary Objects in Project Management]]
|-
|Group 13
|Otiv
|Peter
|s145166
|[[Project Financing Initiative]]
|-
|Group 4
|Juhasz
|Bianka Zsuzsanna
|Biankajuh
|[[Changing conversations based on the Stacey matrix]]
|-
|Group
|Rodrigues
|Rafael
|s150931
|[[Project Integration Management]]
|-
|Group 2
|Camilla
|Flataukan
|s150801
|[[Mindfulness in Project Management]]
|-
|Group 9
|Søren
|Thomsen
|s140046
|[[Organisational resilience with mindfulness]]
|-
|Group 8
|Schrøder
|Niklas
|Faker
|[[Theory of Constraints]]
|-
|Group 11
|Herreros
|Maria
|s142597
|[[Early warning signals in project management]]
|-
|Group 3
|Larsen
|Martin T
|s103128
|[[Management of risk in projects]]
|-
|Group 9
|Hoier
|Lasse Rasmus
|Lassehoier87
|[[Application of Antifragility in Project Management]]
|-
|Group 4
|Shapel
|Sarah Groot
|s152093
|[[Leadership styles]]
|-
|Group 4
|Hammer
|Jonas
|s113665
|[[The best milestone plan is simple but with depths!]]
|-
|Group 2
|Flataukan
|Camilla
|s150801
|[[Risk Profile in General Contracting]]
|}

Articles Fall Term 2015

2015-09-16T14:05:50Z

Jooehm:

Talk:Financial Portfolio Optimization Methods

2015-09-16T14:04:34Z

Jooehm: Created page with "Josef: Thank you for an interesting, and already rather detailed, Wiki article. What I struggle with is the relationship of your article with the management of project portfo..."

Josef: Thank you for an interesting, and already rather detailed, Wiki article.

What I struggle with is the relationship of your article with the management of project portfolios. There are in fact serious limitations to the applicability of financial portfolio theory to project portfolios, for example the assumptions that you can invest/divest into options without changing their risk/return balance, or the assumption that you can actually divest from options ("selling" a failing project will almost always be impossible, as I am not aware of a secondary market for projects).
I am not sure how we can "salvage" all the details you have already produced. What I would suggest is to focus on what part of financial portfolio management theory is applicable to project portfolio management, or better, why it is not applicable.

2015-09-15T09:07:22Z

Jooehm: Created page with "Josef: Hello, I like the idea for your article. But I would suggest to decide on a focus area before moving on. For example, a particuluar RM standard, a comparison of standar..."

Josef: Hello, I like the idea for your article. But I would suggest to decide on a focus area before moving on. For example, a particuluar RM standard, a comparison of standards, a particular phase and its methods, a particular method in a particular phase etc. If you want to describe an overall project RM approach, then I suggest focusing on PMI, PRINCE2 or the ISO31000.