To start with, in the Scott paper it is evident that portfolio management elements are the evaluation criteria done universally. This is evident, since we are clearly told about the activities of the Scott paper. The company has analysed the market - its competitors and target market. They have also asked experts to analyse the duration of time needed to invest, so as to bring out new products in the market. This helps the company to determine and to know what the customers in the market expect from them.
There is another form of element which is known as full sponsorship elements. These elements are well outlined by the expected role of the CEO, stakeholders and international partners’ teams. These three groups have been devoted to the review process of the Scott paper. Accordingly, these reviews are to be done monthly and quarterly. Customers have a role to play in contributing the ideas about the new products; this gives the Scott paper confidence that what they will offer in the market will meet customer’s needs. Involving customers in decision making, makes them feel as part of the Scott paper which increases the loyalty of the Scott paper. Finally, the CEO of the company will provide ideas about the markets and the competitive developments to be done with the products. All this will be based on his knowledge and experience (House C.C., 1983).
The business strategies in the Scott paper were evident from the beginning, when they only entered the market. Some of these strategies are clear business reviews that are usually done monthly and quarterly. Their competitors, the strength of the competitors and ways of overcoming their strength are analyzed first. This may be done by determining the sources of their raw materials, their strong areas, and also their weaknesses. Finally, they have assed the best time to introduce new products in the market (Aaker D., 1984). They now should consider the SWOT analysis. Through reduced uncertainty on the new product will lead to a reduced financial risk (Cleland D.I. & Gareis R., 1994).
If the portfolio project management for Scott paper is handled poorly, it might result in a level of overhead which might outweigh its benefits. With this approach of PPM, Scott paper introduces a kind of cultural shift, with an effective change in its management which is critical to the success of Scott paper (Furman J., 1997). The primary key to this is by taking a balance in each of the key areas of technology and processes. While using PPM, Scott paper needs to keep things simple now that it is starting; some of these things are not like targeting a big market share on start up and trying to operate at the lowest production cost possible. Then after learning what is successful, the company needs to analyze how their products are performing in the market. This can be done by regularly conducting market surveys. Then, finally, the company has to start adjustmenting some of their products. After all the analyses were performed, it can start evolving (Abrams R.M., 2003).