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Where Governance and Portfolio Management Intersect: What You Need to Know
 Project managers frequently find themselves knee-deep into the details of their project. With reports to write, schedules to update and phone calls to make, it can be a challenge to raise your eyes above the horizon line long enough to understand your project’s strategic role in the organization.
If you want to advance your project and career, you need to know how your project fits into the larger strategy and supports the business objectives of the organization. Understanding governance and portfolio management will help you to align your project with the strategic goals of the organization. Full Story.
Have you ever changed jobs as a project manager, to work in an industry that was new to you?
If so, please tell us your most important guidance to transition industries successfully. You could be quoted in a future article to help others who are considering such a move. Please send your advice in a brief e-mail message by Monday, 6 April. Also see Tips for Team Members in this issue.
 Quick Quiz
I work as a third-party programmer for AnyNameSI Systems Integrators on a time and materials basis. However, I know that the software I develop is being sold to their customer, BigTime Customer, on a fixed price basis. What should I do in this situation to lower my risk that this three-way contract will not go smoothly?
A. Convince BigTime you should do their work directly, bypassing AnyNameSI altogether.
B. Run your costs as high as you can to teach AnyNameSI not to try to profit from your work.
C. Refuse this contract, as the risks are too high for you to incur.
D. Tell AnyNameSI you need to have firm requirements documents, a clear acceptance policy and a written change policy.
Test your knowledge.
PMI Blogs
Read what’s new and write a comment.
- In Search of Long Term Value – Michel Thiry, PMP, PMI Fellow, says that value is in the development of an integrated portfolio-program-project approach supported by a sound governance system.
- The Olympics and the Recession – Preparing for the Olympic Games is called "the biggest piece of project management a city undertakes, and it is against an immovable deadline.”
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