Recommending Best practices, Methodologies, and Techniques for Multiple Projects
Mastering the Art of Managing Multiple Projects Simultaneously While Maintaining Quality and Budget Standards
Multiple project management could be described as a management practice in which a project manager is delegated to simultaneously manage multiple projects, whereby the projects are not related but are dependent in terms of objectives and goals (Patanakul, 2010). Organizations are constantly undertaking multiple projects for new products or in an attempt to boost existing products. Therefore, project managers of multiple projects are required to simultaneously manage multiple resources and budgets effectively to accomplish projects on time, within budget, and according to the desired specifications.
Largely, the emphasis on multiple project management has become a critical issue in competition because of increasingly intense international competition (Dye & Pennypacker, 2000; Hopkins, 2007).
For any project of choice, you can use the following best practices, applicable tools, methodologies, and techniques for multiple-project or portfolio management:
- Employing strategies for the effective use of resources
- Best approaches for scheduling and organizing
- Best approaches for resource management
- Resource allocation
- Ways to anticipate activities
- Methods of communication for stakeholders
- Prioritizing and managing project resources
- Applying the Theory of Constraints
- Knowledge of issues confronting managers of multiple projects
- Utilizing tools and techniques such as project management software
- Applying mitigation strategies to long-term risks related to project resources, and
- Possessing the competency model for effectiveness in managing multiple projects
You can read more about best practices, tools, methodologies, and techniques for multiple-project or portfolio management in the referenced resource below, online or in print:
Dye, L. D., & Pennypacker, J. S. (2000). Project portfolio management and managing multiple projects: Two sides of the same coin? Paper presented at Project Management Institute Annual Seminars & Symposium, Houston, TX. Newtown Square, PA: Project Management Institute.
