Research On The Impact Of OPM3 Elements On Project Portfolio Management Capability Based On SD

Market competition is increasingly fierce,original project management model cannot keep up with the rhythm of the times,which puts forward new requirements for the organization's project management.More and more organizations are beginning to use portfolio management as a key strategy to maintain a competitive advantage in today's highly competitive business environment,and it provides a new thinking and new tools for people to manage the project.However,project portfolio management is a huge and complex project,which means the success rate of the portfolio management is likely reduced due to the insufficient project management portfolio capacity.Therefore,it is of great significance to accurately evaluate the portfolio management capability.OPM3 evaluates the management level through the maturity level of the organization process,finds out the weak links,improves it and achieves the best practice.Introducing OPM3 to research and analyze the project portfolio management,we can not only continue to find the shortcomings of the project portfolio management to provide targeted strategies,but also can better monitor the project portfolio management and improve its capability.Therefore,based on OPM3 theory,this paper chooses the OPM3 elements on the basis of the existing research and studies the influence of OPM3 elements on the project portfolio management ability so as to carry out the organization project management activities more effectively and enhance the market competitiveness.Firstly,this paper reviews the research OPM3 and project portfolio management,and then makes a summary of the related theories.These lays the foundation for the research.Secondly,according to the research results and principles on the selection of OPM3 elements,this paper summarizes the OPM3 elements:strategic execution and planning,human resource management,organizational leadership,organizational process management,project development process,and information analysis.According to the theory of system dynamics(SD)and PMI,this paper defines system boundaries and basic assumptions,divides the whole system into three subsystems as organization strategy,project portfolio management establishment process group,project portfolio management monitoring process group,and analyses the causal relationship between the various subsystems.The causal relationship of the whole system is obtained on the basis of the causal relation diagram of a given subsystem,and then the property of the variable is identified to form the SD stream affected by the OPM3 element on the project portfolio management ability.Finally,the parametric equation of the model is simulated by Vensim software and the result is analyzed.The study comes to the conclusion:? OPM3 elements have a significant positive impact on portfolio management capability.?The OPM3 elements' input level plays a strong and positive role on portfolio management capability.?The OPM3 elements' executive level has positive effect on portfolio management capability.? The elements of strategic execution and planning,organizational leadership and information analysis affect portfolio management capability most significantly.