Question

Describe why it is important to consider the existing project portfolio management in place at the health care setting when choosing products or services.

Answer 1

It is important to consider the existing project portfolio management in place at the health care setting when choosing products or services because:

• It helps to determine how well that product or service is aligned with the health care facility goals and strategies.
• It assists in determining the optimal resource mix for delivery.
• The health care facility is able to schedule activities to be able to best achieve the health care operational as well as financial goals.
• The health care facility is able to effectively manage risks that come with the product/service delivery.

The implementation of a product or service can fail due to the following reasons:

• Poorly defined scope that does not explain in details the product/service key elements such as the solution being solved,the target customers and the value proposition of that product or service.
• Failure to adequately assess the risks of implementing the product or service.
• Failure to adequately review the existing portfolio .
• Setting of unrealistic and therefore un-achievable goals.
• Lack of effective communication among the implementation team.

A product or service can be successfully implemented due to:

• Effective planning and communication among the implementation team.
• Engaging in effective risk management strategies.
• Having a well detailed action plan that is strictly adhered to.
• Regular assessment of progressive and appraisal of corrective measures where needed.
• Accountability and clear designation of tasks.

Through the application of portfolio project management,for major metrics are evaluated:

• Risk measures.
• Financial measures.
• Resource measures.
• Change control measures.