Towards a Relationship Project Program and Portfolio Knowledge Model . This presentation brings together my work using network analysis on projects to build a system dynamics model.

A system dynamics approach was used to model the effects of complexity, resulting from unknown dependencies, across the project-administration system. The system dynamics approach was developed by Professor Jay Forrester in the mid-1950s and first described at length in the book Industrial Dynamics. System dynamics is both a conceptual tool and a powerful modelling method that seeks to understand the structure and dynamics of complex systems. It is consistent with network analysis because it takes account of the relationships that hold the system together and cause it to behave in a particular way, rather than just looking at the components of the system in isolation.

This approach was used because in the project-administration environment few, if any, factors are independent, and most are asymmetrical. The network analysis demonstrated temporal and directional complexity, which somehow must be accommodated by project, program, and portfolio managers. It also showed how business processes were or were not used, and how stakeholders were engaged. A system dynamics approach allows these variables to be brought together and extend the network analysis beyond a simple (or not so simple) static knowledge audit to a dynamic model that shows program and portfolio risk.