Project Portfolio Management: How to Design, Build and Manage a Project Portfolio
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Project Portfolio Management: How to Design, Build and Manage a Project Portfolio Course
Introduction:
As organizations reach higher levels of maturity in managing projects individually, they shift their focus to managing them collectively as a project portfolio. This transition seems to occur when you realize that projects are investments – not expenditures – requiring justification that they are aligned with organizational goals and will create value for the owners and other stakeholders of the organization.
Course Objectives:
Upon completion of this Project Portfolio Management: How to Design, Build and Manage a Project Portfolio course, you will be able to:
- Understand the role of a project portfolio in translating strategy into desired results.
- Align projects with organizational goals and strategy.
- Establish project and portfolio governance structure.
- Develop key design requirements of a balanced portfolio.
- Monitor and control portfolio performance.
- Employ various techniques to prioritize projects.
- Allocate resources most efficiently to competing project and operational demands.
- Analyze and manage portfolio risks.
- Apply quantitative techniques to evaluate a project for its merit as well as its relative merit against other projects.
- Use weighted scoring models to quantify the intangible benefits of projects.
- Build a business case for a project.
- Identify criteria to terminate a project.
- Understand practical challenges and how to overcome them in executing PPM.
- Implement a practical methodology to build and manage a project portfolio that will maximize business value and return on investment.
Who Should Attend?
This Project Portfolio Management: How to Design, Build and Manage a Project Portfolio course is appropriate for:
- Portfolio Managers, Program Managers, and Project Managers; managers responsible for evaluation, selection, and termination of projects;
- PMO staff responsible for initiating or streamlining portfolio management processes; and decision-makers involved in authorizing projects or phases of projects.
Course Outlines:
Portfolio Management Basics and Foundations
- Definitions and Differences: Project, Program, and Portfolio
- Portfolio Triple Constraint
- Why Project Portfolio Management?
- Practical Challenges in Executing PPM
- Organizational Project Management
- Portfolio Management and Organizational Strategy
- Roles and Responsibilities of a Portfolio Manager
- PMI View of Portfolio Management
Portfolio Construction Monitoring & Control
- Initial Portfolio Creation
- Initial Portfolio Calibration
- Portfolio Construction Processes
- Project Business Plan
- Why Terminate a Project?
- Sunk Cost Fallacy & Dilemma
- Portfolio Balancing
- Portfolio Assessment
Portfolio Measurements & Metrics
- Success Measurements
- Outcome & Performance Measures
- Portfolio Metrics
- Project Metrics
- Project Prioritization
- Efficient Frontier
- Weighted Scoring Models
- Forced Ranking
- Paired Comparison
- Project Evaluation
- Cost of Capital
- Measuring Financial Benefits
- Measuring Non-financial Benefits
- Data Visualization Tools
Benchmarking
Desirable properties for benchmarks
Index calculation methodologies
Price weighted indices
Market capitalization indices
Equally weighted indices
Benchmark selection
Benchmark statistics
Portfolio Risk Management
- Uncertainty vs. Risk
- Portfolio Risks
- Decision Trees
- Monte-Carlo Simulation
- Sensitivity Analysis
- Resource Allocation
- Rolling Wave Planning
- Factors Affecting Resource Availability
- Resource Allocation Tools
- PMO
