Project Portfolio Management Essay Example | Topics and Well Written Essays - 250 words

Project Portfolio Management - Essay Example According to Todd (2003) having a strong program for portfolio management can significantly lower risks and maximize the value of projects. It can strengthen communications between projects teams business leadership, encourage teamwork & responsibility in management of projects, permit efficient scheduling of project resources and eliminate project redundancy. The ultimate result is profitability and maximum value out of projects. It is crucial to follow best practices and key steps of project management. Firstly it is important to have an inventory of projects so as to have all the projects the organization is running in a single database. Second is to identify those projects matching strategic business objectives and then categorize the projects based on their scores. It is also crucial to proactively manage the projects and identify potential hurdles in good time. The article is very useful especially to persons involved in project management. While the author appreciates there one specific approach to portfolio project management, he points pins out aligning projects with strategy and embracing best practices as key success factors. The article also maps important activities that must be implemented while managing projects and therefore the information is very useful to project management teams but also business leaders and students of

Marketing Law and Ethics Essay Example | Topics and Well Written Essays - 2250 words

Marketing Law and Ethics - Essay Example Organizations today have to adhere to the minimum environmental and ethical standards while conducting their operations locally or globally (Schlegelmilch, 1998, p.7). The project seeks to present some of major ethical issues faced by organizations. In this context the case of British petroleum oil spill would be considered and the various CSR that the organization undertook thereafter. The company has been criticised of being responsible for some of the major safety and environmental accidents. Since then the company has been involved in a number of socially responsible activities and voiced their concern for the climatic changes arising out of such businesses. It has also tried to implement practices of curtailing the emission of greenhouse gases. The project then seeks to analyze and evaluate the interactions between the marketing practices and the moral, legal and ethical environment in which the company operates. ... These factors have not only been resulting in loss of the company’s goodwill but have also generated huge revenue losses. As the company accounts for a major strength of the economy, earning a bad reputation would eventually result in a shock for the British economy (Lustgarten, 2010). The thought that the company has not been acting in socially responsible manner causes damage to the economy as well. CSR activities must be such which contributes to the economy while a poor CSR causes damage to the economic benefit of the nation on the whole (Werther & Chandler, 2010, p.28). BP has also been accused of a number of major accidents which has caused injuries to workers working in the company. This has been responsible for the arrival of a number of legal issues. A number of rules and compliances have come up for safeguarding the interest of workers. Companies have to specially abide by such compliances in the form of compensating for the loss of workers in case they meet accident s and injuries during the time of service. Companies have to implement sufficient safety standards for ensuring the safety of workers and their wellbeing. Criticisms regarding ethical issues were pointed at the company when it was charged of manipulating the prices of propane. In fact In that case, it had to settle the issue with the United States Department of Justice. Moreover it had to make a payment of $300 million in the form of fines for the purpose. This can be considered to be a case of ethical failure of the firm. The above accidents and incidents also reflect the status of moral standards followed in the company. The families of those workers meeting with accidents in the company have been claiming compensation on