Please respond to both POST1: and POST2: with at least 200 words and APA Cited reference.

Required

• Chapter 1 in Project Management Toolbox
• Part 1, Section 2.4 in A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 6th edition
• Chapter 3 in Lock, D. (2012). Project management. Burlington, VT: Gower.
• Ozmen, E. (2013). Project management methodology (PMM): How can PMMserve organisations today? Paper presented at PMI® Global Congress2013—EMEA, Istanbul, Turkey. Newtown Square, PA: Project ManagementInstitute. Retrieved from https://www.pmi.org/learning/library/project-management-methodology-serve-organizations-5803

Recommended

• Project Management Institute (2016). Connecting business strategy and project management. Retrieved from https://www.pmi.org/learning/thought-leadership/series/benefits-realization/connecting-business-strategy-project-management
• Wyss, S. (2013). The perfect methodology—a tool, not a burden!Paper presented at PMI® Global Congress 2013—EMEA, Istanbul, Turkey.Newtown Square, PA: Project Management Institute. Retrieved from https://www.pmi.org/learning/library/project-methodology-tool-development-technique-5785
• Zwikael, O. & Chih, Y. Y. (2014). Project benefit management:formulation and appraisal of target benefits. Paper presented atProject Management Institute Research and Education Conference,Phoenix, AZ. Newtown Square, PA: Project Management Institute. Retrievedfrom https://www.pmi.org/learning/library/project-benefit-management-8957

POST1:

Creating a PM Toolbox

There are three major steps in creating a PM Toolbox.These steps include securing strategic alignment; customizing the PMToolbox; and improving the PM Toolbox continuously (Martinelli &Milosevich, 2016). An organization must utilize all three of the stepsin order to create a beneficial, strategically-aligned PM Toolbox.Strategic alignment is essential as it helps to ensure that anorganization correctly allocates its resources (Wakeman, 2019).

Characteristics of Strategically Aligned Toolboxes

Strategically aligned toolboxes have manycharacteristics. The characteristics are tied to the organization’score business strategy. According to Martinelli & Milosevich(2016), an organization that has a Best-Cost business strategy willutilize a Performance-Cost Driven PM Toolbox. The Performance-CostDriven PM Toolbox focuses on both of a project’s performance and costelements. This type of Toolbox includes the following characteristics:

• Central role and priority belong to cost-performance tools
• PM spends a majority of time managing performance requirements and cost
• Performance and tools are the primary basis for decisions (Martinelli & Milosevich, 2016)

Impact of Core Business Strategy on PM Toolboxes

An organization’s core business strategy impacts thechoice of PM Toolboxes. Martinelli & Milosevich (2016) state thatthe “business strategy drives the project strategy, which in turn drivemethods and processes, which influences the PM Toolbox design” (p. 4).For example, an organization that has a differentiation businessstrategy would emphasize getting their products to market quickly.Thus, the organization would utilize a Schedule driven PM Toolbox(Martinelli & Milosevich, 2016).

References

Martinelli, R.J., & Milosevich, D.Z. (2016). Project management toolbox: Tools and

techniques for the practicing project manager (2nd ed.). Hoboken, NJ: John Wiley and

Sons

Wakeman, D. (2019, December 5). 3 Steps to align project and strategy. Retrieved from

https://www.projectmanager.com/blog/3-steps-to-ali…

POST2:

Module 1: Discussion

In this discussion we are talking about the Project Managers Toolboxor PM Toolbox. A PM’s Toolbox can be anything from a program to a jobaide, anything to help with managing a project. The threecharacteristics of strategically aligned toolboxes that are importantfor the success of any project are alignment with strategies,customization of the Toolbox, and continuous improvement. (Martinelli& Milosevich, 2016).

1. Alignment with strategies – the PM should know and understand thecompany’s strategic business goals. They need to know why a project isbeing undertaken. This helps the PM to eliminate any obstacles.(Martinelli & Milosevich, 2016).
2. Customization of the Toolbox – there are three options either thesize of the project (complexity of the project), the family or groupthat pertains the project, or the type which uses both size and familytogether. (Martinelli & Milosevich, 2016).
3. Continuous Improvement – As things change over time each toolboxmust continually be improved upon and updated. (Martinelli &Milosevich, 2016).

A company’s core business strategy will impact the choice of the PM’stoolbox and the characteristics of it. Once the PM has the knowledgeit needs about the company’s business strategies, they will utilize thatinformation to create the appropriate toolbox for the project they areworking on. For example, if one PM has identified his project as beingsmall and having little complexity to it then the list of items in thattoolbox could be limited to only several items. But another PM’sproject is determined to be a project that will take 7 years toimplement with multiple groups, programs, and people then the toolboxneeded to manage that project could be by far more.

-Amy

References:

Martinelli, R. J., & Milosevich, D. Z. (2016). Project managementtoolbox: Tools and techniques for the practicing project manager (2nded.). Hoboken, NJ: John Wiley and Sons.