Applied Portfolio Management Planning and Control Techniques

Question: Discuss about theApplied Portfolio Management for Planning and Control Techniques. Answer: Introduction: The project emphasizes on the subject area of providing a workflow status report as per the timeline provided by the management. The project needs to be completed between started from 17th August 2016 to 18th November 2016. The status report is usually based for the month of October. The project is carried on the introduction of new online method of fixing an appointment at Emanuel Medical Center. The study is mainly focused on the evaluation of scope of the current project along with this evaluating the deliverables of project, basic assumptions and criteria for accepting this project. The project is aimed to satisfy and meet the needs of more than 50% of the patients who shows up for check-up at Emanuel. However, there are several patients who cannot get an appointment from the doctors of Emanuel and with the help of online appointment, the organization can assist the patients to book an appointment through online appointment procedure. Project Status: The name of the project is Project Portfolio Management and the name by which the business will be recognized is Emanuel Medical Center. The project is currently evaluated at the halfway stage on 20th October to determine the progress made in the activities undertaken by the organization. Project view map Progress Particulars August September October November Webpage designing and development Creating Payment Gateway Setting up the medical Center Scheduling Webpage developer Resource development and cost allocation Gene Technology Act Home and Community Care Act 1985 Specification for service and Fee structure Developing the team of appointment maintenance Developing the team of service provider Legends: Legends Within two months Within three months Exceeding four months Analysis of Project Performance: It is evident from the project view map that the work of webpage designing and development along with creation of payment gateways was wrapped up during the month of August and September respectively. Setting up of medical center and scheduling of webpage has progressed in the month of October and are in their completion stage. Implementation of Green Technology Act was rapidly wrapped up within two months and it was completely covered in the month of September Implementation of home and Community Care Center Act 1985 was considerably long and it took a period of three months for its implementations Development of specified teams was arguably most challenging aspect of this project as it requires diversification of projects by developing the team of appointment maintenance and service providers (Gido Clements, 2014). Issues Identified: Cost factor- One of the prime issues that has been identified, which is associated with this project, is the allocation of project cost. Since the resources are limited, it is difficult for the management to manage and consider cost associated with the project (Hill, 2013). Difficulty in handling demands: It should be noted that cost must be controlled properly in order to handle and manage demand. With the growing number of patients, it is difficult for the management to handle demands of this growing number of patients. Organizational systems management: Another issue that is identified is that the management must provide better quality of service to the patients while on the other hand it also needs to handle organizational systems (Fitzsimmons Fitzsimmons, 2013). With huge amount of demand, it is difficult for the management to properly administer the online booking systems. Flexibilities issues: With huge amount of demand, it is noteworthy to denote that doctors may not be available at the desired time when an appointment is fixed through online mode. This reflects the issues of flexibility of availability of doctors and patients may be deprived of proper services. Timeline Details Milestone Report for the preparation of Emanuel Medical Center Task No. Project phase Start Completion 1 Webpage designing and development phase 17.08.2016 26.08.2016 2 Creation of the payment options 27.08.2016 06.09.2016 3 Scheduling of webpage developer 06.09.2017 14.09.2016 4 Establishment of the medical center 15.09.2016 30.09.2016 5 Development of the existing resources and allocating the cost 1.10.2016 18.11.2016 6 Implementation of the Gene Technology Act 16.09.2016 28.09.2016 7 Designing infrastructure as per home and community care Act 1985 19.10.2016 26.10.2016 8 Creation of the structure for the fees and specification of the service level agreements 29.09.2016 30.09.2016 9 Development of the team for appointment and the maintenance of the existing facilities 27.10.2016 30.10.2016 10 Development of the team of the service providers 01.11.2016 18.11.2016 (Rowley, 2015) The timeline details are prepared according to the Gantt chart analysis. On the basis of the above of the above From the above chart, we can clearly observe that the company Emmanuel medical centers infrastructural development for the setting up of the medical, center is schedule to take the highest amount of time. Form the timeline line analysis we can also find that certain tasks such as the Development of the team for appointment and the maintenance of the existing facilities and Development of the team of the service providers is in a critical stage. The Emmanuel medical center needs to put an augmented focus for the purpose for the development of these facilities (Mohammad et al., 2016). Budgeted Expenses Budgeted expenses Particulars Amount (in $) Expense for webpage designing and development 350 Salaries to the respected staffs 150 Webpage maintenance 200 Expense for equipments 200 Gene Technology Act 150 Home and Community Care Act 1985 100 Total Expenses incurred 1150 (Botn Vergara, 2015) The above-mentioned table forecast the budgeted expenses, which will incur in undertaken project. The anticipated expense that is most likely to incur is $1,150. It is to be noted that some of the cost has already been incurred such as the cost incurred for the designing of webpage development and webpage maintenance cost has been incurred out of anticipatory budget of $1,150 for the month of October. Whereas, cost related to lawfully implementation of Gene Technology Act and Home Community Care Act 1985 is yet to be incurred, however, those cost has been identified for the budgeted expenses (DRURY, 2013). Planned Deliverables/Activities for the Next/or Remaining Time Periods Based on the various types of the planned deliverables we can see that the medical center needs to put more focus for the purpose of the development of the Setting up the medical Center, Scheduling Webpage developer, infrastructural development through Home and Community Care Act 1985 and developing the team of appointment maintenance. From the time line analysis, we can further state that Resource development and cost allocation has the possibility if missing the project deadline assigned in the initials project preparation state. The medical center should involve in setting up of a dedicated team for Developing the team of service provider who will be responsible for the sole purpose of the provided an improved service to the customer. The customers will be able to gain an advances knowledge from beforehand and the various types of the facilities offered but the project. In this way the medical, center will be able to complete the project within then assigned dead line. The health center needs to prioritize the remaining tasks on the basis of the Gantt chart prepared for the purpose for the project evaluation. Review of the Risks Emanuel Medical Center needs to take in account then several type of the risks factors associated with the implementation of the project. Some of the risks involve are related to the unavailability of then services to the rural patients and in several areas where the patients may be able to access the internet facilities. This will be able to then customer expansion only in the semi urban areas and the developed cities (Kim, 2016). The doctors may also find it difficult to access then various regions of the rural, areas and the then rural patients able be completely deprived of the health services in the remote locations. The service is also at the verge of the risk as the knowledge of the technological constraints may be limited to only to then people with the availability of the internet knowledge. The service is limited to risk due to the work pressure of the doctors and of the various types of the staff members visiting the doctors (Zhang et al., 2012). Conclusion The analysis of the various stages of the project stats about the different types constraints related to the timeline required for the completion of the project. The project not only helps us to priorities the various types of the tasks but it also provides the time required for then individual tasks. The project also states about the various types of the service level agreement that is required for the efficient of the medial center and make the most out of the services of the project. The later part of the report also suggest about the various the risks associated with online appointment process which requires the people to apply the technological background of the people in order to get the appropriate level of the service. Reference List Botn, J. A., Vergara, M. A. (2015). A cost management model for economic sustainability and continuos improvement of mining operations. Resources Policy, 46, 212-218. Burke, R. (2013). Project management: planning and control techniques.New Jersey, USA. DRURY, C. M. (2013). Management and cost accounting. Springer. Fitzsimmons, J., Fitzsimmons, M. (2013).Service management: Operations, strategy, information technology. McGraw-Hill Higher Education. Gido, J., Clements, J. P. (2014).Successful project management. Nelson Education. Hill, G. M. (2013).The complete project management office handbook. CRC Press. Kerzner, H. R. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. 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