The success of a project contributes to the success of the organization; and a successful Manager is a pillar of a successful Organization!

Riad Kodeih, 2012 Here, in our case study, Martinsuo and Paivi aim at identifying how PMs from the single project level ranks can supply additional and fruitful benefits to the entire portfolio of their associated organization; and they were aware that such an undertaking is not a simple one since the theories are many, but the empirical evidence is lacking. Wysocki stated, A project portfolio is a collection of projects that share some common link to one another.

In order to reach a concrete conclusion, they prepared a sample, which they sent to 1102 organization, out of which 288 responded. The selected companies all had more than 100 employees amongst their ranks; and they all had named one responsible person for development. Small, medium, and large companies were included in the survey, as is the case with private industrial firms and private service sectors. Some other information regarding the firms included in the sample can be viewed in reading the article Martinsuo, M. & Lehtonen, P. (2007) Role of single-project management in achieving portfolio management efficiency, International Journal of Project Management, 25 (1), pp. 5665. One key aspect of the study was that the data collected was prepared and constructed using Likert-type scale and Cronbachs alpha estimates. The main goal behind the survey was to prove/disprove 1 or more from the following hypothesis: Hypothesis 1. The degree to which projects have clearly specified goals is positively related to portfolio management efficiency. Hypothesis 2. Availability of information on single projects for decision makers is positively related to portfolio management efficiency. Hypothesis 3. Systematic decision making as part of the development process is positively related to portfolio management efficiency. Hypothesis 4. Reaching project goals is positively related to portfolio management efficiency. Hypothesis 5. Project management efficiency is positively related to portfolio management efficiency.

They have divided the survey/report into (8) parts: 12345678Definitions and Introduction Portfolio Management Efficiency Single Project Management and Portfolio Management Efficiency Empirical Study Data Collection and Analysis Results Discussion And Summary

Large and well sustained organizations always rely on project management portfolio in their businesses, and this is due to a very simple reason and that is such organizations have many subprojects that need to be tended to, and organizing them all and managing them accordingly is the best solution to such an overall project. This tool allows the management team to take decisions that affect the entire projects in line with each other, thus saving time to go over each project on its own and ensuring the best allocation of resources and requirements for each project. Efficiency of project portfolio management, therefore, could be determined by estimating the degree to which the portfolio fulfills its objectives: strategic alignment, balance across projects, and value maximization. Martinsuo and Paivi. In the Single project Management and Portfolio management Efficiencies, they list the 4 hypotheses in question were developed in order to prove that the relation between the single project management and the portfolio management efficiencies. The Empirical study is already discussed at the beginning of this essay; but it is worth mentioning that is was conducted in Finland in 2003. Results are listed according to the studys findings: Model 2 supported the assumption the highest single effect belonged to information availability, while systematic decision-making came in a close second so to speak. This in turn supported Hypotheses 1, 2, and 3 in assuming that systematic decision-making, information availability, and goal setting are shown in Portfolio Management Efficiency. Hypothesis 4 was discredited since portfolio management efficiency is independent and unaffected by reaching a projects goal; while hypothesis 5 was established in Model 3, where it was shown that information and efficiency affected the dependent variables, which had a 52% variance on the portfolio efficiency.

The main results in this study testifies that the role of a single project has an effect on the portfolio management efficiency, both directly to the information availability and indirectly in the goal setting and decision making. This could only mean that the managers of a single project should be aware of the entire organizational portfolio, and the same for the management team of the organization; where they should be capable of distinguishing the projects from each other and assign them to a single portfolio. These results, given the importance of the organizations role and the correlation it has from the portfolio of the entire organization to the single project, has made another argument against the Muller, R. & Turner, J.R. (2007) Matching the project managers leadership style to project type. International Journal of Project Management, 25 (1),pp. 21-32 article which claimed that the PM who has a vision during the execution of a certain project is less likely to succeed in his project; and this is argued here since the vision of the organization is strongly affected by the single project and its execution. Effective Project Management 5th Edition Martinsuo, M. & Lehtonen, P. (2007) Role of single-project management in achieving portfolio management efficiency, International Journal of Project Management, 25 (1), pp. 5665 Muller, R. & Turner, J.R. (2007) Matching the project managers leadership style to project type. International Journal of Project Management, 25 (1),pp. 21-32