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 progress in project management maturity, they transition from managing projects individually to managing them collectively as a project portfolio. This shift occurs when the realization dawns that projects are investments rather than mere expenses. Justification is required to ensure alignment with organizational goals and to demonstrate value creation for 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 own merit as well as its relative merit against other projects.
- Use weighted scoring models to quantify 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