The Application On Project Portfolio Management Of Hunan Transfar Technology Corporation

Hunan Transfar Technologies Co., Ltd. is a IT company of ChinaCommunications Services Corporation, focusing on the design and development oftelecommunications support system. In recent years, with the growing scale of thecompany, the company develops more and more R&D products. And in this course,the new issues to the project management appeared, such as how to optimize theallocation of resources across multiple projects, how to maximize the effectiveness ofresources, how to ensure the implementation of the project and corporate consistentwith the strategic objectives.Currently, Transfar is still using the traditional project management, basicallystaying at the level of individual project management and with all the items to bemanaged not as a whole; the allocation of resources is not optimized from a globalperspective, resulting in a waste of company resources. In addition, it lacked a unifiedassessment and selection of investment processes and methods, and had noquantitative scientific evaluation of project selection criteria. The company cannotenjoy the project benefits from a strategic level, and it ignores the balance ofshort-term projects and long-term projects, the balance between financial benefits andnon-financial benefits. This leads to a lot of duplication and redundancy projects.Based on the analysis and the theory of portfolio management, the author sorted outthe organizational structure of Transfar, business situation, problems encountered inthe management, and built the enterprise-level view of the project. On this basis, theauthor analyzed the relevance of the project, proposed project selection, resourceoptimization, and project portfolio decisions and portfolio optimization methods toallow the company to maximize its role in the course of project implementation.During the implementation of specific projects, it can follow the overall optimizationrather than local optimization thinking. When certain items are inconsistent withcorporate strategic objectives, it can strengthen the management and give timelyfeedback to project portfolio management office for advice and assistance by way ofresource balancing, partition management and overall monitoring. Finally, thecompany also needs to constantly optimize and improve the process and methods ofproject portfolio, making it more suitable for the project portfolio management model,decision model and evaluation system. This thesis shows that through the establishment of a unified project evaluationand selection mechanism in the enterprise, selecting the projects according to theevaluation system, strictly enforcing rational development of project portfoliomanagement plan, and using some auxiliary measures to guarantee theimplementation of the project, the company can ensure the smooth implementation ofthe project and obtain good benefits. Meanwhile, the thesis shows some effectiveways for project management and provides some reference for others in projectmanagement.