Building a Project Portfolio in a Social Enterprise. Analysis and Implementation of Project Selection Methods

• Authors: Mariusz Andreasik

Title variants

PL

Tworzenie portfela projektów w przedsiębiorstwie społecznym. Analiza oraz zastosowanie metod wyboru projektów

• Languages of publication: EN

Abstracts

EN

The research which is described in the article aimed to help the social enterprise — SIFE Salford in creating a portfolio of projects. The paper focuses on a selection method that the organization may use while choosing among the projects submitted by external enterprises. This process is very complex and it is often difficult to make sound decisions, therefore introducing the methods and the process is essential and beneficial for every organization. The author examines two methods: the scoring and Analytical Hierarchy Process (AHP). An analysis of those methods is made to decide which one is more suitable and useful for the organization under study. Furthermore, the methods are analyzed and studied as to how they can be applied and used in social enterprises. The survey and interviews with experts from the field aim to create guidelines for SIFE Salford, how to use the techniques and benefit from them. Consequently, the President and Directors of the enterprise are trained during the interview process to use the studied methods so that they can be easily implemented in the upcoming academic year. This condenses the aim of the research, which is to experiment among the selection methods that could be a practical tool for a social enterprise to ease the process of selection. It also introduces the concept of project portfolio management within this sector.

PL

Celem opracowania jest znalezienie rozwiązania dla przedsiębiorstwa społecznego — SIFE Salford, tworzącego portfel swoich projektów. Artykuł przybliża metodę ich selekcji przez organizację pragnącą dokonać wyboru pomiędzy projektami zaproponowanymi przez inne podmioty. Proces ten jest niezwykle złożony, nierzadko stwarzający trudności w podjęciu rozsądnych decyzji. Dlatego kluczowe i korzystne dla każdej organizacji jest poznanie tych metod i procesów. Autor przygląda się dwóm metodom: wynikowej oraz metodzie hierarchicznej analizy problemowej (ang. Analytical Hierarchy Process, AHP). Celem jest wybór optymalnej, a tym samym bardziej przydatnej z punktu widzenia badanej organizacji. Ponadto, wspomniane metody badane są pod kątem możliwości zastosowania w przedsiębiorstwie społecznym. Ankieta oraz wywiady pogłębione z ekspertami z tego zakresu pozwalają stworzyć wytyczne dla SIFE Salford w zakresie stosowania omawianych metod i czerpania z nich korzyści. W rezultacie, przeprowadzono szkolenie dla prezesa oraz dyrektorów tej organizacji, którego celem było wypracowanie sposobów zastosowania omawianych metod w nadchodzącym roku akademickim. Uwydatnia to kolejny cel niniejszego opracowania — analizę metod selekcji projektów pod kątem praktycznego zastosowania ich jako narzędzi przez przedsiębiorstwa społeczne. Artykuł przybliża także koncept zarządzania portfelem projektów w omawianym sektorze.

Keywords

EN

balanced portfolio management; social enterprise; Analytic Hierarchical Process; project selection

• Publisher: Wyższa Szkoła Zarządzania i Administracji w Zamościu
• Journal: Barometr Regionalny. Analizy i prognozy
• Year: 2013
• Issue: 4(34)
• Pages: 77-89

Contributors

author

Mariusz Andreasik

• Warsaw School of Economics

References

• Al-Subhi Al-Harbi, K.M. 2001. “Application of the AHP in project management.” International Journal of Project Management no. 19 (1): 19–27.
• Andreasik, J. 2009a. “Enterprise Ontology for Knowledge Based System.” In Human-Computer Systems Interaction. Backgrounds and Applications, edited by Z.S. Hippe and J.L. Kulikowski, 443-458. Berlin Heidelberg: Springer-Verlag.
• Andreasik, J. 2009b. “The Knowledge Generation about an Enterprise in the KBS-AE (Knowledge-Based System — Acts of Explanation).” New Challenges in Computational Collective Intelligence no. 244:85-94.
• Baker, N.R. 1974. “R and D Project Selection Models — Assessment.” Ieee Transactions on Engineering Management no. Em21 (4): 165–171.
• Bridges, D.N. 2003. “Project Portfolio Management. Ideas and Practices.” In Project Portfolio Management. Selecting and Prioritizing Projects for Competitive Advantage, edited by L.D. Dye and J.S. Pennypacker, 45–54. West Chester, PA: Ctr for Business Practices.
• Cheng, S.C., M.Y. Chen, H.Y. Chang, and T.C. Chou. 2007. “Semantic-Based Facial Expression Recognition Using Analytical Hierarchy Process.” Expert Systems with Applications no. 33 (1): 86–95. doi: 10.1016/j.eswa.2006.04.019.
• Cleland, D.I., and L.R. Ireland. 2007. Project Management. Strategic Design and Implementation. 5th ed. New York: McGraw-Hill.
• Cooper, R.G., and S.J. Edgett. 2001. Portfolio Management for New Products. “Picking the Winners”, Working Paper. Cambridge, MA: Product Development Institute.
• Cooper, R.G., S.J. Edgett, and E.J. Kleinschmidt. 1997a. “Portfolio Management in New Product Development. Lessons from the Leaders. 1.” Research-Technology Management no. 40 (5): 16–28.
• Cooper, R.G., S.J. Edgett, and E.J. Kleinschmidt. 1997b. “Portfolio Management in New Product Development. Lessons from the Leaders. 2.” Research-Technology Management no. 40 (6): 43–52.
• Dooley, L., G. Lupton, and D. O’Sullivan. 2005. “Multiple Project Management. A Modern Competitive Necessity.” Journal of Manufacturing Technology Management no. 16 (5): 466–482.
• A Guide to the Project Management Body of Knowledge (PMBOK Guide ). 2001. 2nd ed. Newtown Square, Penn.: Project Management Institute.
• Harker, P.T., and L.G. Vargas. 1987. “The Theory of Ratio Scale Estimation — Saaty Analytic Hierarchy Process.” Management Science no. 33 (11): 1383–1403. doi: 10.1287/mnsc.33.11.1383.
• Heldman, K., C.M. Baca, and P.M. Jansen. 2007. PMP. Project Management Professional Exam. Study Guide. 2nd ed. Indianapolis, IN: Wiley Publishing Inc.
• Hunt, R.A., and C.P. Killen. 2008. Best Practice Project Portfolio Management. International Journal of Quality & Reliability Management 25 (1), http://www.emeraldinsight.com/journals.htm? issn=0265–671X&volume=25&issue=1&articleid=1642153&show=html.
• Hwang, C.L., and K. Yoon. 1981. Multiple Attribute Decision Making. Methods and Applications. A State-of-the-Art Survey, Lecture notes in economics and mathematical systems. Berlin; New York: Springer-Verlag.
• Kendall, G.I., and S.C. Rollins. 2003. Advanced Project Portfolio Management and the PMO. Multiplying ROI at Warp Speed. Conyers, GA: J. Ross.
• Levine, H.A. 2005. Project Portfolio Management. A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits. 1st ed, The Jossey-Bass business & management series. San Francisco: Jossey-Bass.
• Managing Successful Projects with PRINCE2. 2002. 3rd ed. London: The Stationery Office.
• Martino, J.P. 2003. “Project Selection.” In Project Management Toolbox. Tools and Techniques for the Practicing Project Manager, edited by D. Milošević. Hoboken, N.J.: J. Wiley & Sons.
• Meredith, J.R., and S.J. Mantel. 2006. Project Management. A Managerial Approach. 6th ed. Hoboken, NJ: John Wiley.
• Miguel, P.A.C. 2008. “Portfolio Management and New Product Development Implementation. A Case Study in a Manufacturing Firm.” International Journal of Quality & Reliability Management no. 25 (1): 10–23.
• Rad, P.F., and G. Levin. 2006. Project Portfolio Management Tools and Techniques. New York, NY: IIL Pub.
• Ridley-Duff, R. 2008. “Social Enterprise as a Socially Rational Business.” International Journal of Entrepreneurial Behaviour & Research no. 14 (5): 291–312.
• Saaty, T.L. 1980. The Analytic Hierarchy Process: Planning, Priority Setting, Resource Allocation. New York-London: McGraw-Hill International Book Co.
• Saaty, T.L. 1994. Fundamentals of Decision Making and Prority Theory with the Analytic Hierarchy Process. 1st ed, Analytic hierarchy process series. Pittsburgh, PA: RWS Publications.
• Saaty, T.L. 2001. Decision Making for Leaders. The Analytic Hierarchy Process for Decisions in a Complex World. New ed, The analytic hierarchy process series. Pittsburgh, Pa.: RWS Publ.
• Schuyler, J.R. 1996. Decision Analysis in Projects. Upper Darby, Pa., USA: Project Management Institute.
• Stewart, R., and S. Mohamed. 2002. “IT/IS Projects Selection Using Multi-Criteria Utility Theory.” Logistics Information Management no. 15 (4): 254–270.
• Watson, S.R., and A.N.S. Freeling. 1982. “Assessing Attribute Weights.” Omega-International Journal of Management Science no. 10 (6): 582–583. doi: 10.1016/0305–0483 (82)90061–5.
• Westerveld, E. 2002. “The Project Excellence Model 1. Linking Success Criteria and Critical Success Factors.” International Journal Project Management no. 21 (6): 411–418.
• Worrall, L., and C. Frattali. 2000. Neurogenic Communication Disorders. A Functional Approach. New York: Thieme.
• Wysocki, R.K., and R. McGary. 2003. Effective Project Management: Traditional, Adaptive, Extreme. 3rd ed. Indianapolis, Ind.: Wiley Pub.