Ongoing Learning Journey - Coursework Example

PERSONAL ASSIGNMENT – REFLECTIVE LEARNING REPORT REFLECTIVE LEARNING REPORT This report presents a comprehensive learning experience throughout the unit. The report presents my beliefs, and - accumulated during the ongoing learning journey, this prompt and contribute to the own exploration of the complex topic. According to Kolb (1984) through his work on Learning Cycles, there is a relationship between reflection and learning. Kolb, defined reflection as the act of casting back, thinking, considering or deliberating. It is that act of holding up a mirror to look back. According to Donald Schon (1988), Donald Schon is a very prominent reflective thinking theorist ; he looks at reflection as a diagnosis, testing and belief in personal causation. Mezirow (1985) also observed that reflection involves that act of bringing learner’s assumptions, criteria, premises and schemata into criticism where learner thinks back to see what worked and what didn’t. Plato’s directive of “know thyself” has built the concept of self-knowledge. According to Zubizaretta (2004), learning portfolio should improve learning through provision systematic reflective learning structure over time in order to develop aptitude, habits and skills from critical reflection. This is supported by Moon (1999) who observed that reflection is a mental process which is like a form of thinking used to carry out a projected outcome. This is applied to some structure of ideas with uncertain solution. BENEFITS OF REFLECTION This report will give meaning to my learning experience. It will show whether the learning goal was accomplished or not, it will also show how the team and learners at large did it and how this is a part of the bigger learning effort. The report will also provide an opportunity both to the teams and me as an individual to establish what is to be execrated from this program. The report will also reduce tension of emotionally challenging topics and provide re-energizing renewal. The report will eventually create a sense of accomplishment and appreciation to other people’s contribution; this is crucial here where external reward is limited. Reflection is also important in team and individual development; this is because reflection fosters life-long learning skills. An individual or team is therefore able to develop learning ability from both negative and positive experiences. Reference is made on discussion forums, team activities and literature read. The paper has used topic by topic approach in reflection. SOURCES OF LEARNING MATERIALS Articles STUDY AREA ARTICLE What worked Their influence Portfolio Management             -Young, et.al (2011) Reading and Discussion with my team using the case study of Sydney Water Corporation and NSW Government Understood the whole of enterprise portfolio management -OGC, (2011) Reading on Portfolio Management Principles  Understood what need to be done while Management of Portfolios -Cooper, et. al. (2001) Reading and Discussion of the results of an industry study on research and development for new products The reading helped me as an individual and the entire group understand the Portfolio Management process in product development -Jeffery, et.al (2004) Reading on Best practices in IT portfolio Management  Build my understanding on the use of ICT in Portfolio Management -Killen, et.al, (2005) Reading and discussion on Portfolio Management Practices  Developed my understanding on general concept of program and portfolio management practices. -Artto, et.al, (2001) Discussion My team members assisted me understand the Strategic Management in projects and portfolio management -Archer and Ghasemzadeh (1999) Reading and discussion  I was able to read, understand and actively participate in discussion on the selection and prioritization of project portfolio Change Management   Whelan-Berry and Somerville (2010) The review and synthesis assisted us in the discussion teams on organizational change process  We were able to understand the role of change and how the drivers links with organizational change process. Strategy Mapping   -Kaplan and Norton (2000) -Hrebiniak, G. (2005) Reading on Strategic mapping   General understanding on strategy mapping and aligning projects to achieve organizational objectives,   Strategic Decisions Challenges -Al-Ghamdi M, (1998).  Reading and team discussion on challenges of strategy implementation After the reading and discussion with team members, I was able to identify and critically understand the obstacles to successful strategic decision implementation. Benefits Realization Peppard, et. al. (2007), Team discussion on managing the benefits of business investment in IT  Together with my team members, we deeply discussed and understood the IT investments benefits and management Group Work and Discussion Forums The work and discussion forums really assisted me in this unit, as an active team member I greatly contributed to this team. Together with members we were able to handle complex issues through high level of thinking as we researched deeper in to the new concepts learned in class. My team was very supportive in guarding against reinforcement of biases or inaccurate perceptions. The team members were able to gain a wider perspective of other members’ experience and build personal confidence through problem solving. Problems solved in groups created open communication, shared understandings and strong teamwork. Our group handled in the discussion forum the topic on program management case – NHS IT – overview. The program was to transform IT for NHS including: Electronic Hospital booking system, Health records, new broadband infrastructure and E-prescriptions. The group outlined four key issues that we believed were the main causes of the system failure and possible solutions sought. The Other groups looked in to portfolio management; Managing Innovation Project Portfolio: The case of Philips Research Another group also handled Portfolio Management; How to implement Management of Portfolios within 100 days by Craig Kilford. Lessons Learned for this Case These cases gave me a clear insight in to the understanding of a program, program management and relationships between portfolio management, program management and project management. I have even gone deeper and understood the roles and competencies of the program and portfolio managers. It is here that I also learned and understood the roles and responsibilities of the various individuals involved in program and portfolio management. More specifically I got to understand that the program manager is responsible for preparation of business case for program, portfolio or project. Reference sources According to my understandings, prior to this topic to class I knew that a project is managed by a project manager, a program is managed by a program manager and portfolio is managed by a portfolio manager. Using the reference sources and various learning materials provided to us, I wanted to learn the exact meaning, scope and general management of a project, program and portfolio. This was greatly achieved by reading the reference sources and actively participating in a discussion team. TEAM PERFORMANCE Working in group of ten members has been a fantastic experience and also learnt the importance of team work in the present competitive world. The ten member group was able to gather at the discussion area in order to conduct a comprehensive discussion. I participated actively in this team because it proved to me that there were so many things I was able to lean in the discussion teams from my fellow members. The team had a membership of tem with a team leader who gave direction on team activities. All of us worked as team player with each one of us taking a role. My discussion team adopted the Drexler/Sibbet Model as a tool to help in optimizing the team’s effort workflow. This model was developed by Allan Drexler and others to help optimize team’s effort workflow. The model has seven stages where each stage has a primary question of concern for every team member at any given phase. The model really assisted us in the discussion teams because through it we had an enhance team performance and workflow with minimum restrictions or stringent rules. Orientation During our team discussion we would ask ourselves the reason why we were gathering. This was meant for each one of us to soul search and understand the reason for attending the forum in order for the team to maintain its the core objective. Orientation made me understand that teams strengthen each other because each individual had a unique concept well understood and share with other members, this really connected us. Trust Building There was need to know the members to work with, Drexler/Sibbet Model provided us with a framework in order to identify members agendas, expectations and competencies. We therefore had to clearly define and understand our individual responsibilities as we established insight in to each other’s style of working and experience. Goal Clarification The goal clarification stage was very important to our team. It is at this stage that we identified a shared vision. There were few disagreement but they were ironed out as everyone gave a view and solution. The meeting time was discussed and agreed including penalties for latecomers. Conflict resolution between team members was also discussed. Commitment there was need to clearly define the task the team will need to deliver by the end of the process. This stage enabled us members define the order priorities on how the work should proceed. There were things that worked in our group and those that did not work during the content study. However I can say that generally, gathering the required information was very crucial to my team, this was one of the key strength of my team. Members were committed to their work and nearly each one of them delivered as expected. Implementation The implementation stage was basically timing and scheduling dominated. All the team members worked within time and agreed schedules. There was some sense of teamwork where members who did not locate reference material were given more time as the rest assist in locating relevant articles. Through this strategy, the team really provided for a deeper understanding of the concept of program and portfolio management through intensive team work information gathering and discussion. High Performance According to the Drexler/Sibbet model high-performance team is the code objective of the process design. My team spent more time in this stage in order to achieve their best. This gave rise to a detailed discussion on program and project management including schedules, work tasks, dependencies, milestones, baselines and constraints. Renewal At the end of the task, the question we asked ourselves was “Do we continue? Why?” Every team member had to reflect on the positive and negative aspect of the group work. This includes conflicts and tasks that were not accomplished. In my view most of the team members were positive about the team performance. Difficult concepts Whole process of applied management project (AMP) has been learning and value adding program. I learnt very little in this area. Development investment returns by continuously governing the selection of the right mix of investments. Customer Relationship Management Systems (CRM) is another difficult area that I am yet to understand. Resource, budgeting and business performance management to control costs and investment. Improving on the difficult areas A lot about various aspects of project execution and situation handling to achieve the individual and group desired goals still needs some further reading. The group discussion within our group and among other friends will also assist. Taking example from the reality will help in understanding how to implement CRM, Rolling out CRM and adopting CRM technology. SPECIFIC COMPETENCY DEVELOPED Program Management There are several things that have changed in my understanding of these issues. The topic on program management is now very clear to me. I have clearly understood both the definition and the general meaning and application of program management. I now understand that a Program is a set of projects managed as a group rather than individually managing them. (Al-Ghamdi, 1998) I have also understood the definition of Program Management as defined and further understood the benefits of Program Management. The benefits according to Peppard, et. al. (2007), include reduced projects conflicts, optimal resource utilization and appropriate coordination of projects. I have also learned that PPM is changing focus from the traditional approach to a more modern and flexible approach that put in to consideration the overall objective and operating cost. (Young, et.al, 2011) I learned that the focus of PPM efforts is shifting from a traditional approach that lacks flexibility to one that can adapt to changing strategies and can create maximum business value for minimum cost, quickly. Whelan-Berry and Somerville (2010) pointed out that various researchers are looking in to this field of program and portfolio management in order to find ways the PPM leaders can adjust to change the performance criteria in order to improve on value contribution. The Levin-Ward Program Management Competency Model I have linked competency development with the Levin-Ward Competency Model. The Levin-Ward Program Management Competency Model has eight personal competencies and six performance competencies applied in program management. Defining the program The articles, course materials and discussion forums and groups have enabled me understand well the whole concept of portfolio management. It is through these materials that I have understood the following concepts. According to Young, et.al (2011), Portfolio is defined as a collection of projects, programs or operations managed in a group in order to achieve the organizational strategic goals and objectives. Portfolio in this context refers to a group of related or non-related projects or programs. Portfolio management refers to the coordination of a collection of strategic decisions and processes that enables effective balance of organizational usual business and change (Killen, et.al, 2005). Portfolio management using centralized management, prioritize the work, provide the resources required and select the right program and project in order to aligns with the organizational strategy. Levin-Ward program management competency model Initiating the program Stakeholder Engagement: The case studies also shade some more light on stakeholder engagement. It is at this point that I knew that the stakeholder is any group or individual impacted by, or with an interest in, the change outcome or process real or perceived, business or personal, logical or emotional. Similarly the stakeholder management ensures active involvement of stakeholders to enable achievement or improvement in change outcome may change the targeted outcome (learning) Stakeholder may have different views of how to achieve the objectives – timeframes, methods, resources. Some stakeholders may need to take ownership of specific planned outcomes and business changes required. Planning the program Considerations of Program Management: The major aspects learned during the project period are as follows: Understanding the given task and identifying the requirements of the given task. Utilization of available resources in an optimized way while gathering the required journals and articles. Maintenance and usage of information gathered right time at the right place. Effective sharing of information with the group members is necessary for better development of ideas. Preparing the final report in specified time to avoid rushing in last minutes. Executing the program The discussion forums, I understood that there are two portfolio management cycles of definition and delivery. There are also the main approaches to implementing portfolio management and sustaining progress. Program Management Lifecycle: The reference materials have assisted me in getting the concepts of program management lifecycle. I learned that program activities need to be managed from the beginning to the end. There is the definition phase, benefits and delivery phase and finally the closure phase. (Artto, et.al, 2001)In definition phase program activities are formulated and prepared, at the benefits and delivery phase, there is component planning, organization, oversight, integration and transition and closure. At the closure phase, the overall program activities are closed. Managing Change :The topic on managing change is also very clear to me now. I have learned that there are rapid changes such as digitization; mobile applications and dynamic business environment that are significantly changing the environment in which most organizations are conducting projects and programs, this calls for rapid response. Whelan-Berry and Somerville (2010) clearly highlight the fact that companies need to strategically place their portfolio management plans and projects management plans right in order to capitalize on the benefits that comes with it. This will correctly guide the company on the right, priorities and plans and hence resources will be organized and performance improved. Product portfolio management balances product lines, brands, product options, product offerings, technologies, ideas and investment opportunities. (Peppard, et. al, 2007). I also realized from the sources read that cultural issues affect change management. According to Whelan-Berry and Somerville (2010), these includes the changes to responsibilities, organization structure, reporting relationship, training and development, dismantling old methods and feedback on performance and improvement The management of strategic change is very important. According to Whelan-Berry and Somerville, (2010), the portfolio manager needs to update the portfolio management plan in response to changes in the organization strategy or portfolio components. There is need for clearly defined business objective, tolerance for ambiguity, commitment at all levels and open communications for an appropriate change management. Delivering Benefits through Programs: There is need to deliver and sustain the benefits provided by the program. Benefits need to be identified, planned, analyzed, delivered and sustained. The benefits include • There is continuous improvement • Prudent resource utilization to allow for effective innovation • Efficient decision effective management of future programs • streamline budget making process and reforecast • Align the projects and programs in the organization with strategic company needs Monitoring and controlling the program Controlling Programs: Through the resources provided, I was able to learn more about programme assessment matrices and programme positioning matrix. Killen, et.al, (2005) highlighted that the two are designed to help organizations improve their ability to set up, plan, manage and deliver programs successfully. I have also understood that Program Positioning Matrix in particular provides an initial impression of types and extent of changes involved, and level of certainty about the work and capabilities required for the programme. The matrices are a way of identifying and describing the degrees of alignment or misalignment between the intent of the programme and what needs to be in place to achieve it at any stage in the programme lifecycle. The portfolio management needs to align the portfolio with the organization strategies. it is in this topic that I learned that the main goals of linking organizational strategies with portfolio management is to ensure a balanced and executable plan leading the organization to the realization of its goals and objectives. According to Zubizarreta, (2009), the skills required for the program management office include good analytical skills that will enable them analyze business cases and assess value created by outcomes, and conduct reviews to assess achievement of outcomes. They need to have business acumen and knowledge of PM processes. Portfolio Governance Management: I came to realize that portfolio management needs oversight and proper establishment of portfolio management activity, authorizing and monitoring the actual portfolio. According to Jeffery and Leliveld (2004), Governance has a key role in portfolio management. Those involved need to understand and accept the role and its accountability. The PMO can provide a key role in assisting with Governance if established correctly and resourced with appropriate staff. Program Reporting need to cover business issues like benefits, organization change, strategic risk, alignment. It is not just about delivery of capability which is the project focus Governance include development of the portfolio management plan; definition of the portfolio i.e. creating the portfolio components and criteria for selection; optimizing the portfolio where a review of the components is done to optimize the portfolio; authorize a portfolio to allocate resources that develops component proposals; provide portfolio oversight where monitoring the performance of the portfolio is key. Quality Management and Assurance: Quality in a project is focused on ensuring the outputs will meet acceptance criteria. In a program the focus is on management, processes and alignment with the environment within which it exists. Assurance approach is to provide confidence to the owner and stakeholders that the program is on track to deliver the required results and attain the planned organizational strategic objectives. Since Programs are designed to deliver outcomes that achieve strategic business objectives, quality at a program level must also address this issue. The sources I have read recommend that there is need to produce a quality plan that will cover quality policy, quality standards, and quality estimates of cost, quality metrics, quality checklists, quality assurance and control specifications. My changed understanding and why it is important. I found out in this unit that Program Management involves the management of a group of projects that are interdependent. Here there is a hierarchical structure where program management comes between project management and portfolio management. Looking in to the difference between Project Management and Program Management, I found out that program management looks into the interdependent issues across a multitude of projects to deliver a broader organizational objective whereas project management is limited to the task within a specific project. Portfolio management is the method of prioritizing projects and programs according to the overall business strategies, while the actual delivery of those strategies is the role of program management. HOW I WILL USE THE NEW COMPETENCIES THAT I HAVE LEANED IN FUTURE The competencies developed are very crucial in starting a program that will rapidly change my organization making it the best in project, program and portfolio management. Organizations need to realize the benefits management and general benefits of portfolio management. This I will achieve by adopting the following strategies. Undertaking the right programs and projects Effective program and portfolio implementation Efficient resource utilization Embrace corporate governance, transparency and accountability Effectively engage the stakeholders through proper communication Constantly offer support to projects or programs Ensure effective co-ordination between projects and programs. Ensure the effective use of project and program prioritization Making use of cost models and business cases Prepare a smooth program and project change management program These benefits are important in contributing to the achievement of organizational value from investments in programs and projects about portfolio management. How I will develop this new competency further According to Moon, reflection is a kind of provocation to think deeply in to the learner’s action in order for them to act with more insight and effectiveness in the future. Therefore using real life situations I will set challenges, ask further questions as I read further, I will engage in tasks requiring vast evaluation and this promotes reflection. This will build this knowledge and competence further while retaining the concepts learnt. Risk Management My organization will ensure there are effective risk management strategies that will secure projects, programs and portfolio management programs. Portfolio management has a higher risk compared to individual projects. Every organization needs to accept the right amount of risk commensurate with the anticipated reward if it really wants to deliver optimum outcomes for the organization in the short, medium, and longer-term. The first thing I will need to do is to develop portfolio risk management plan to manage portfolio risks. This will look in to significant external risks, internal organizational risks broader than those of any specific project. The second phase will be risk definition, where complexity and Selectionism are adoption. This will process for diagnosing unforeseeable uncertainty and risk reduction through collaboration partnering. WHY MANY ORGANISATIONS DO NOT OFTEN FULLY USE THE PROCESSES, TOOLS AND TECHNIQUES OF PORTFOLIO AND PROGRAM MANAGEMENT In our group discussion we found out that though it is generally acknowledged by organizations that they should spend more time on benefits realization, in practice not many do this effectively. Some organizations however have developed benefits realization methods, but their effectiveness appears questionable. The benefits realization does not work as planned because of reasons such as lack of understand of the portfolio and current capabilities. Our group discussed and suggested the means to overcome these challenges. Portfolio Management Information System (PMIS) are tools and techniques used to collect and distribute information arising from the portfolio management processes. To make program and portfolio management efficient in organizations, when embarking on a business change program, it was clear that organizations should not let technology become the key driver, but rather they need to ensure that they understand all the other activities required to achieve the desired outcomes. Technology may appear to be the most difficult part, but experience shows that bringing about change in the business activities is actually the difficult challenge. In the organization of study during the case study in the discussion forum, I found out that the organizations view portfolio management as a more strategic approach to ensuring enterprise value is delivered through its investments in programs and projects. The process for making decisions about the portfolio management in these organizations is therefore transparent. The impact of lack of transparency The organization executives will not be able to understanding the given task and identifying the requirements of the given task. Poor utilization of available resources in an optimized way. There is inadequate maintenance and usage of information gathered There is no effective sharing of information with the group members for better development of ideas. Why organizations use portfolio management. Portfolio management create the best value for the organization by selecting the right programs and prioritize to ensure there is sufficient capacity to do them while ensure alignment with organization strategy. The programs are well monitored on how they are progressing. Portfolio Management impacts how decisions are made about allocation of resources and accountability for outcomes. A number of initiatives need to be launched and co-ordinate. There is need for proper selection criteria for new initiatives, portfolio governance and implement on-going reviews of performance and make improvements. The organizations are able to assess the current state of the portfolio management process, define the portfolio management vision and plan, implement the portfolio management processes and improve the portfolio management processes. The barriers and enablers to making Portfolio and Program Management more effective in organizations The learning resources have enabled me understand that the importance of planning is to bring stakeholders together and reconciling their different priorities and interests. When there is limited link to organizational strategy and senior executive involvement, the programs are unlikely to be successful. Most organizations have underestimated risks and problems in making changes on financial plans to secure funds and resources. Change programs and successful transformation programmes first address the organizational people and capability aspects before dealing with process and technology aspects. This should not be the case. A few organizations have capabilities to manage multiple concurrent programmes with varying levels of uncertainty, competing for the same resources over extended periods. Running change programmes can really causes tension within the organization. There is need for portfolio management blueprint; a one page picture of all the components such as process, governance, information flows and collaborative working. They need a portfolio plan which will show the delivery journey this will help them understand interfaces and dependencies portfolio governance model. Organization needs to set up a portfolio delivery committee to recommend selection and monitor performance of the portfolio. Similarly they must set up a business investment group to provide the investment appraisal process and provide scrutiny of new business cases. It is important to understand the organization’s maturity as this will affect the success of portfolio management implementation. Reference Al-Ghamdi, Salem M, 1998. Obstacles to successful implementation of strategic decisions: the British experience, European Business Review, Vol. 98, Iss 6 p322ff Archer, N. P and Ghasemzadeh, F, 1999. An integrated framework for project portfolio selection, International Journal of Project Management, Vol. 17, No. 4, pp 207-216. Artto, K. A, Martinsuo, M, and Aaalto, T (eds), 2001. Project Portfolio Management: Strategic Management through Projects, pp5-22 Cooper, Robert & Edgett, Scott & Kleinschmidt, Elko, 2001, Portfolio Management for new product development: results of an industry study, R&D Management, vol 31, no 4, 2001 Dewey, J., 1910. How we think. New York: Heath & Co. Hammer, M. and Stanton, S.A., The Power of Reflection, Fortune, November 24, 1997 Hrebiniak, Lawrence G, 2005. Introduction chapter of Making Strategy Work. Jeffery, Mark and Leliveld, Ingmar, 2004. Best practices in IT portfolio Management, Sloan Management Review, Vol. 45, No. 3, Spring, pp41-49. Kaplan, Robert and Norton, David, 2000. Having trouble with your strategy? Then map it, Harvard Business Review, Sept-Oct Explains the concept of Strategy Maps developed in their later book. Killen, C P, Hunt, R A & Kleinschmidt, E J, 2005, Portfolio Management Practices in Australia, MGSM working paper 2005-10, June Kolb, D., 1984. Experiential learning. New York: Prentice Hall. Moon, J., 1999. Reflection in Learning and Professional Development. London: Kogan Page. Moon, J., 2004. A Handbook of Reflective and Experiential Learning: Theory and Practice. London: Routledge Moon, J., 2006. Learning Journals: A Handbook for Academics, Students and Professional Development. London: Routledge OGC, 2011. Portfolio Management Principles, in Management of Portfolios, The Stationery Office, London Peppard, Joe, Ward, John and Daniel, Elizabeth, 2007. Managing the realization of business benefits from IT investments, MIS Quarterly Executive, Vol 6 No 1 March. Schön, D., 1991. The Reflective Turn: Case Studies in and on Educational Practice. New York: Teachers College Press Schon, D.A., 1991. The reflective practitioner. New York: Basic Books. Whelan-Berry, KS & Somerville, KA., 2010. Linking change drivers and the organizational change process: A review and synthesis, Journal of Change Management, Vol.10, No. 2, 175-193, June Young, M Owen, J & Connor, J., 2011. Whole of enterprise portfolio management - A case study of NSW Government and Sydney Water Corporation, International Journal of Managing Projects in Business, Vol. 4, No. 3, pp 412-435 Zubizarreta, J., 2009. The Learning Portfolio: Reflective Practice for Improving Student Learning, Second Edition. 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