Effective portfolio management improves the multi-project flow through the organization by minimizing unnecessary projects according to their priority and changes in corporate strategy and vision.
This workshop teaches the participants how to develop sound strategy for effective project portfolio management (PPM) using specific techniques, tools and models for defining, aligning, authorizing and controlling a project portfolio. Participants will also learn about major PPM components, importance and challenges of implementing enterprise level project portfolio management and how to setup an efficient and strategically aligned project portfolio to proactively identify, select, de-select and monitor a balanced and desirable mix of projects.
What you will learn:
- Fundamentals of Project Portfolio Management.
- How to define major components of a Project Portfolio Management process.
- How to select, organize and prioritize projects within a portfolio.
- How to match selected projects with available resources, budgets and costs.
- How to use quantitative analysis to setup efficient and controllable measures for portfolio value monitoring and benefits realization.
- How to continuously balance costs and risks while validating benefits realization.
Module 1: Portfolio Setup
- Project Portfolio Management overview.
- Fundamental components of Project Portfolio Management process.
- How to relate the principles of Project Portfolio Management to organizational strategy and organizational performance.
- Portfolio management and agile enterprise.
Module 2: Project Selection
- How to select the best collection of projects to be conducted within resources available.
- How to develop/formalize the framework for evaluating and prioritizing projects.
- How to develop processes for improving project budgeting, cost accounting, risk, and resource management.
Module 3: Value Management
- What is the value of each project?
- How to quantify the value to be derived from projects?
- Value metrics and value-based project ranking.
- How to make project selection decisions based on principle of creating value, with all projects evaluated and re-evaluated together?
Module 4: Optimization
- How to use quantitative analysis and measurements to obtain efficient, predictable and controllable project and portfolio management.
- Portfolio governance and accountability.
- Portfolio performance reporting.
Module 5: Balancing Risks and Value
- Identifying internal and external risks across multiple projects and the whole portfolio.
- Quantification of risks.
- How to reduce risks by addressing the areas of greatest uncertainty.
- How to continuously balance costs and risks while validating realization of project benefits.
Who Should Attend
- Executives responsible for organizational strategy.
- Managers responsible for developing organizational strategy or for making strategic recommendations.
- Portfolio managers, project managers, and program managers.
- Members of portfolio, program, or project offices.
- Operational managers who are impacted or impact portfolios.
- Project team members, customers, and other stakeholders of the portfolio management process.