Course Overview
As organizations reach higher levels of maturity in managing projects individually, they shift their focus to managing them collectively as project portfolios using project portfolio management (PPM) process.
This transition seems to occur when the organization realizes 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. Managing project investments collectively brings coherence to implementing the strategic as well as operational initiatives and helps the organization create sustainable value in the long run.
This workshop provides you with tools, techniques, and best practices for managing project portfolios. It offers a “how to” methodology to design, build, and manage a portfolio.
Learning Objectives
- Illustrate the role of a project portfolio in translating strategy into desired results
- Delineate an overall project portfolio management (PPM) methodology
- Align projects with organizational goals and strategy
- Discuss the key design requirements of a portfolio
- Allocate organizational resources efficiently
- Present quantitative techniques to assess a project for its own merit as well as its relative merit against other projects
- Illustrate the use of weighted scoring models to quantify intangible benefits of projects
- Evaluate decision techniques that clarify choices involving both threats and opportunities
- Identify, analyze, and manage portfolio risks
- Apply various techniques to prioritize projects
- Build a business case for a project
- Delineate criteria to determine when a project no longer serves its purpose and needs to be terminated
- Discuss practical challenges and how to overcome them in executing PPM.
- Present a practical methodology to create and manage a project portfolio that will maximize business value and return on investment
You Will Receive
- 30 PDU’s from PMI
- A copy of Dr. Kodukula’s new book Organizational Portfolio Management: A Practitioner’s Guide
- A CD containing the slides from the workshop, case study exercises, and exercise solutions
- A participant Guide with workshop slides
- case study exercises, and exercise solutions
Course Outline
Course Opening
- Course Objectives, Outline, and Agenda
- Personal Introductions
- Ground Rules
Portfolio Management Basics
- Definitions: Project, Program, and Portfolio
- Differences between a Project, Program, and a Portfolio
- Portfolio Triple Constraint
- Why Project Portfolio Management?
- PPM Discipline Today
- Practical Challenges in Executing PPM
PPM Methodology
- Funnel & FiltersSM: A Portfolio Model
- Project Portfolio vs. Financial Portfolio
- PPM Methodology: Phases and Processes
Portfolio Foundation
- Organizational Strategic Framework
- Balanced Scorecard
- Portfolio Infrastructure
- Portfolio Governance
- Portfolio Team Roles & Responsibilities
Portfolio Design
- Portfolio Benchmarks
- Portfolio Contingencies
- Portfolio Design Requirements
- Portfolio Balance
Portfolio Construction
- Building New Portfolio
- Portfolio Calibration
- Portfolio Construction Processes
Portfolio Monitoring & Control
- Selection of New Projects
- Project Business Plan
- Levels 1, 2, 3 Evaluations
- Why Terminate a Project?
- Sunk Cost Fallacy & Dilemma
- Portfolio Balancing
- Portfolio Assessment
Project Prioritization Tools
- Efficient Frontier
- Weighted Scoring Models
- Forced Ranking
- Paired Comparison
Project Assessment Tools
- Cost of Capital
- Benefit/Cost Analysis
- Net Present Value
- Payback Period
- Return on Investment
- Measuring Non-Financial Benefits
- Data Visualization Tools
Portfolio Measurements & Metrics
- Success Measurements
- Outcome & Performance Measures
- Portfolio Metrics
- Project Metrics
Portfolio Risk Management
- Uncertainty vs. Risk
- Portfolio Risks
- Decision Trees
- Monte-Carlo Simulation
- Sensitivity Analysis
- Real Options Analysis
Course Closing
- Lessons Learned
- Personal Action Plan
- Portfolio Managers
- Program Managers
- Project Managers
- Project Management Professionals (PMP®s)
- Program Management Professionals (PgMP®s)
- Portfolio Management Professionals (PfMP®s)
- Managers responsible for evaluation, selection, and termination of projects
- PMO staff responsible for initiating or streamlining portfolio management processes
- Decision makers involved in authorizing projects or phases of projects
- Other relevant managers and executives
Who should attend?
- Portfolio Managers
- Program Managers
- Project Managers
- Project Management Professionals (PMP®s)
- Program Management Professionals (PgMP®s)
- Portfolio Management Professionals (PfMP®s)
- Managers responsible for evaluation, selection, and termination of projects
- PMO staff responsible for initiating or streamlining portfolio management processes
- Decision makers involved in authorizing projects or phases of projects
- Other relevant managers and executives
