Paper Example on Maximizing Performance in Healthcare: Why Project Portfolio Management Matters

Description of why it is important to consider the existing project portfolio management in place at the health care setting when choosing products or services.

Performance improvement in most healthcare institutions is a process that is likely not going to come to an end. Either the mandate is driven by the various demands of regulators, recognizing the existing risks, or a given aspiration in accordance to achieve a universal performance; the various healthcare institutions have heavily invested in improving the performance within the services they are offering. For the various health care institutions to improve on their performance delivery it takes the marginalized effort of the existing teams support whereby through their expertise they are able to facilitate multiple methods of improvement. Multiple health care institutions have organized their uncountable efforts into what can be considered as a formal project management offices that is in charge in ensuring that there is coordinated volume of activity and also to make sure that given projects are completed on the expected time and the results that are delivered are excellent. In the effort of trying to improve the performance delivery within the various health care institutions the question of why and when to apply the improvement is generally driven by the urgency of the situation. The biggest challenge is experienced on the question of where to bring about the change in performance is presented as a subject consideration.

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Describe a setting where implementation of a product or service failed with supporting explanation as to why.

Not all projects that are applied within healthcare institutions prove to be reliable, some tend to fail due to existing risks within organizations. Resources within healthcare institutions tends to be a fundamental topic of discussion since they are rendered as limited, henceforth while implementing a certain product or service utilization of resources is very important. For projects to succeed substantial amount of finance must be included to achieve the desired objectives inclusive of resources. Henceforth, in instances whereby the desired project portfolio is put in place tends to utilize finance that exceeds the planned budget and also the resources put in place are unwisely used the project is rendered to fail. While implementing a certain product or service within the given institutions, the new implementations are not supposed to interfere with the normal program of the institution in a negative manner. Henceforth allocate more funds and resources on a project that is not certain of its outcomes tends to highly affect the general running of the activities within the healthcare institutions. Within this case decision making and certainty tends to be a fundamental subject in applying a project portfolio.

Describe a setting where implementation of a product or service succeeded with supporting explanation as to why. Most projects that are handed out by various health care organizations tend to take a lot of time and also inclusive of resources than planned and in some instances fail to deliver the expected outcomes within the project. Poor results within healthcare institutions are not only affected by faulty healthcare IT or poor execution of projects or even poor management of projects. Poor planning and also poor project portfolio management highly contributes in many projects failing to deliver the desired outcomes within the given healthcare institutions. Since resources tend to be limited among healthcare institutions, project portfolio management enables these existing organizations to strategically distribute the available resources so that care delivery, initiatives projects and service delivery can highly improve. So as to make good and valid decisions one has to have effective access to information and data since visibility tends to be a crucial subject of context. When the management has access to previous existing project metrics they are able to identify the mistakes that were included and can be corrected in predicting the future aspirations for instance, utilization of resources within the institutions. Also having reliable information on the existing project at work enables the institution to eliminate the various projects that are included but do not contribute towards the objective of the institution. In addition project management portfolio is a platform that various health care institutions apply to avoid existing risks within the organization for instance, governance, utilization of resources, financial risk and also misdirected efforts. Within this context information tends to be more reliable in implementing a project portfolio.