Discuss the differences in effective communication methods, if any, between communicating project-related information and communicating portfolio-related information. In each case, who is the audience? Are there differences in presentation format, content, or both? Why?
A plan is a definite program or effort to achieve a specific goal. It is handled by the director of the project. Designing a new project or system or a breakthrough may be the goal. It has a clear beginning and end. It is time-bound, limited resources, and deterministic is the expected outcome.
Thus, a portfolio is a set of sub-portfolios, programs and projects. To reach the organization's strategic goals, it is managed by portfolio manager. There is no timeline for a portfolio, but specific portfolio projects and initiatives are time-based.
Communicating details related to the project includes the investors and the operator. While it requires shareholders and stakeholders to communicate portfolio-related information. This ensures that staff, managers, clients, vendors and other stakeholders who are directly connected to the project are the audience for project-related information. These are the ones directly influenced by the project performance and/or active in the phases of project planning and execution.
In both cases, therefore, the presentation is special. The report related to the project provides detailed information about the project in question. This will include the actual timeline projected v / s, specific sources, challenges and limitations, criteria, project basic structure, result, etc. While the report relevant to the portfolio will include information on the achievement of strategic organizational goals.
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Discuss the differences in effective communication methods, if any, between communicating project-related information and communicating portfolio-related...
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