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Enterprise Project Management (EPM)

Project Management is “the application of knowledge, skills, tools and technique


s to project activities to meet project requirements” (Schwalbe, 2010, p. 10); p
roject management deals with a specific project and it focuses on tactical goals
, which are short-term goals and related to a particular project and doesn’t inv
olve to other projects’ activities. Enterprise project Management (EPM) is a bro
ader term that describes strategic goals and emphasize on long-term organization
al objectives. EPM differs from traditional project management in a number of wa
ys; its ability to compare on an enterprise wide between several projects in dif
ferent areas and evaluation their resources to determine which projects can and
should be done and which should be abandoned or terminated. EPM require strong d
ocumentation to keep enterprises from reinventing the wheel; and finally it empo
wers the project office to determine which business unit projects will affect an
d to enlist the contributions of any staffer from any of those business units.(F
raone, 2001)
While managing a single project does not require its analysis against other proj
ects, managing an organization with multiple projects does. Performing portfolio
analysis across an enterprise can yield tremendously valuable information; by e
valuating projects together, organizations can establish benchmarks. EPM operati
ons could be divided into a number of functional areas; including scalability to
the largest of projects, integration with other systems in the organization, su
pports an existing organizational structure, management of risk, provides a syst
ematic methodology for planning and completing work, supports multiple business
needs, project portfolio analysis, multi-user support, multi-environment support
, and dissemination of information. (Al-Rashidi, 2009)
These features are needed for a truly enterprise-scale project management applic
ation which requires an enterprise or portfolio project management software that
integrates information from multiple projects to show the status of current and
future projects running across an entire organization. People involved in proje
ct portfolio management must have strong financial and analytical skills to mana
ge how projects and programs could contribute to achieve these strategic goals.
(Schwalbe, 2010, pp. 18-21)
Bibliography
Al-Rashidi, T. (2009, April 3). Enterprise Project Management. Retrieved August
8, 2010, from www.scribd.com: http://www.scribd.com/doc/12967047/What-is-Enterpr
ise-Project-Management
Fraone, G. (2001, May 02). MANAGING PROJECT EXPLOSIONS. Retrieved from Univerist
y of Liverpool Library: http://ehis.ebscohost.com.ezproxy.liv.ac.uk/eds/detail?v
id=1&hid=118&sid=fd15a340-528f-457d-b12a-5a73cc6f5d88%40sessionmgr110&bdata=JnNp
dGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#db=a9h&AN=4066292
Schwalbe, K. (2010). Managing Information Technology Projects. Course Technology
, CENGAGE Learning.