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Organizing for uncertainties in a dynamic market - Assignment Example

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Organizing for uncertainties in a dynamic market Name Institution affiliation Tutor Date Organizing for uncertainties in a dynamic market Part I Project portfolios in dynamic environments: Organizing for uncertainty By Yvan, P. (2012). University of Montreal In the article the author put across the importance of a dynamic environment to a project…
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Download file to see previous pages The author further argues that dynamic environment provide the best opportunistic environment in the corporate world. However, dynamic environments need proper management since they are accompanied by many uncertainties. Many project portfolios fail due to dynamic environment. The article describes how dynamic environments can easily destroy a project portfolio. From the evidence provided in the article, one project out of five ventured in a dynamic environment have failed due to poor management. Coming up with project portfolios require a lot of consideration with the type environment a project location is based. The issue behind dynamic environment is the management of the uncertainties presented by this environment. In words by Yvan (2012) the richness in opportunities the dynamic environment presents are the same uncertainties resented by the same environment. Characteristics in a dynamic environment include high level of profits in one season while the fate of other financial years is unknown. This uncertainty makes it essential to have programs and strategies to manage their project portfolio. To curb this problem the article involves the use of dynamics capabilities frameworks. These frameworks are aimed at studying project portfolios in dynamic environments. ...
The dynamic capabilities frameworks are aimed to achieve three prospects: Provision of a better understanding on the management of projects facing uncertainties. Analyzing the relationship between the measures put in place by organizations to minimize the impact caused by uncertainties and the sources of uncertainty in dynamic environments. Provide recommendations and possible improvements in the standards and models of project portfolios. From the author of the article these three objectives can secure an organization’s assets in any case of an occurrence of an uncertainty. If the assets are not completely secured they effects of the uncertainties are also minimized. Project managers are therefore advised on how to ensure a proper implementation of the dynamic capabilities frameworks. In some cases these frameworks only involves means of insurance in any occurrence of risk. In the dynamic environment, the frameworks are more important since projects require total quality management. According to Yvan (2012) the completion of projects depends mainly on the ability of the project manager to foresee the transition from and to each face of the project. This is made easier by the implementation of the dynamic capabilities framework. From the article, there are claims that project management in dynamic environments. Organization and project doing enough to ensure that project portfolio are being managed effectively. This is after many approaches have been developed. Do project managers have the intent of making projects suitable for the dynamic environment? Having successful projects portfolio also includes having proper organizing mechanisms in the organization. Proper organization mechanisms include the methods of ...Download file to see next pagesRead More
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