This assignment involves reading a script (which was originally a video) and answering questions 1 and 2, and search for a PMO in the textbook that was outsourced/virtualized, and answering questions 3,4,5

the script is:

in this video I want to answer the question what is portfolio management portfolio management is the selection prioritization and control of an organization's projects and programs a portfolio managers role is to select projects and programs that will deliver the strategy that the organization has selected and to deliver the capability that will enable those projects and programs to be delivered within their specified parameters the goal of portfolio management has to be to balance risk and reward the easiest way to think of it is to recognize that portfolio management in the project and program sense is very much a metaphor drawing on portfolio management in the financial sense and in a financial sense nobody would be wise to invest all of their funds in one type of investment what we do is we create a portfolio of different investments a basket of investments with different levels of risk with different susceptibilities to economic trends we don't know which of our investments will do particularly well we don't know which of our investments might fail but if we get the basket the portfolio right then the overall aggregate performance will be successful and it's exactly the same with projects and programs what the organization is trying to do is to predict the future to a degree and then invest in a range of projects and programs that together will address a wide range of scenarios and for the most likely scenarios it will address them very well so portfolio managers oversee a basket of projects and programs and initiatives that together address a range of strategic imperatives for an organization which means that the practice of portfolio management is integral so the long term strategic implementation as a discipline port management integrates the three disciplines on the one hand we've got strategy development on another we've got projects and program management on third hand we've got change management and together those three disciplines make up the role of a portfolio manager and of course a portfolio manager needs to be constantly reviewing and addressing the balance of their portfolio they have to be prepared to reallocate resources from one initiative to another and sometimes to shut down projects and programs which are no longer serving the organization whilst ramping up and accelerating others portfolio management in an organization is best served by a central portfolio management office a PMO indeed many organizations are now referring to p3 mo for a portfolio program and project management office a combined facility which brings together the skills of project management program management and portfolio management under one leadership so that that team can support project managers program managers and the portfolio manager at every level and therefore portfolio management needs a high level of organizational project and program management maturity to make it work it needs a sophisticated and effective strategy generation process it needs a strong decision-making and governance process to choose the right project and mature program project management disciplines to deliver them and implement effectively and of course if a portfolio management office is able to support these that in itself will enhance the growing professionalism and therefore maturity of the project and program management discipline within your organization so portfolio management is the control of the selection the prioritization and the allocation of resources to a wide range of projects and programs within your organization that are collectively designed to deliver a strategy

The questions are :

1)How do they rank and do you agree?

2)Do these practices help their PMO? How?

3)What were the drivers for this organization's outsourcing?

4)How does this map with what you learned about why organizations outsource PMO?

5)Which functions were outsourced?

thank you so much!