Knowledge-Based Portfolio Management: A Taxonomy for Lessons Learned

2017-07-29
Portfolio management comprises of identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work to achieve specific strategic business objectives. Utilizing a knowledge-based portfolio management approach can be a critical success factor for construction companies. This research aims to present a taxonomy to facilitate the learning process within a knowledge-based project portfolio management system. The taxonomy is capable of codification and classification of lessons revealed during life cycle of projects to enhance their retrieval. Within this context, following a detailed literature review process, the taxonomy is structured under four main categories as "project", "process", "actor", and "resource”. Categories provided in the taxonomy enable tagging of the lessons learned according to the intended level of detail, facilitate retrieval and reuse of the lessons learned in forthcoming projects. In this paper, we will present the structure of the proposed taxonomy and discuss how it can be used to improve portfolio management in construction.

Suggestions

Knowledge networks and cognitive communities in clusters: the case of ICT cluster of METU Technopolis and agricultural tools and machinery cluster of Konya
Yaşar, Suna Senem; Kayasü, Serap; Department of City and Regional Planning (2010)
Knowledge is defined one of the fundamental resources for development, competitiveness and power of firms, industrial clusters and regions. Their competitiveness and development have a strong relationship with their ability to create, absorb and utilize knowledge and to learn, i.e. their cognitive capabilities. This thesis is focused on clusters as cognitive and learning systems. Clusters are the agglomerations where collective learning may take place. New knowledge is created and shared within the clusters...
Development of a lessons learned management process model and a web-based tool for construction companies
Eken, Görkem; Birgönül, Mustafa Talat; Dikmen Toker, İrem; Department of Civil Engineering (2017)
Organizational memory formation and its effective utilization is a source of competitive advantage especially in project-based industries such as construction industry as it may eliminate potential problems in projects leading to higher profitability and less errors. However, project-based nature also poses challenges for establishing organizational memory as it is hard to capture knowledge of temporary project teams and transfer different types of knowledge between projects. This study presents a “Lessons ...
Acquiring innovative software systems: Experiences from the field
Demirörs, Onur; Karagoz, N. Alpay; Gencel, Cigdem (2007-08-31)
Managing acquisition of software projects, containing innovative components, brings many challenges to acquirer organizations. Innovative software projects usually have unclear requirements and scope. They require stakeholders such as research institutes, software development organizations and the domain experts who work. together and need a flexible budget and time frame to be successful. As a result, the acquisition management activities such as estimation of the product size and the required development ...
Organizational learning assessment in software development organizations
Chouseinoglou, Oumout; Bilgen, Semih; Yöndem, Meltem Turhan; Department of Information Systems (2012)
Knowledge is one of the most important assets of an organization that directly affects business success, and its importance increases for organizations that use knowledge-intensive processes such as the software development industry. In an industry in which technological developments are rapid, in order to keep up with the continuously increasing competition and to obtain competitive advantage the software organizations need to obtain the correct knowledge, use it efficiently and pass it to future projects ...
Common Practices and Problems in Effort Data Collection in the Software Industry
Özkaya Eren, Ayşegül; Demirors, Onur (2011-11)
Effort data is crucial for project management activities in software projects. This data is utilized in estimations that are required for project planning, in the formation of benchmarking data sets and as a main input for project monitoring and control activities. However, there are known problems regarding effort data collection in the industry. In this study we investigate the effort data collection practices in the industry and factors that lead to inaccurate effort data collection. A pilot study was co...
Citation Formats
G. Eken, İ. Dikmen Toker, and M. T. Birgönül, “Knowledge-Based Portfolio Management: A Taxonomy for Lessons Learned,” 2017, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/37401.