Project Portfolio Management
Course Summary:

Many organizations do not understand or focus on how their projects support the enterprise strategy. This can impede both progress and efficiency in achieving the organization's goals. This course surveys important views of enterprise strategy and provides the tools and understanding necessary to keep projects on the correct organizational track. Projects that strategically align to organizational goals can significantly impact the life cycle return on investment and the ability to invest in projects. Lectures, discussions, and exercises will familiarize participants with prioritizing projects and how best practices in strategic alignment can help ensure a project's contribution to enterprise success.

Course Objectives:

Organize a large scope of work into an effective program.
Follow a systematic approach for establishing and managing a program.
Effectively manage risk in a program.
Ensure that the critical success factors are in place for a program or portfolio.
Match the portfolio to the strategic needs of the organization.
Prioritize the projects within the portfolio.
Shift the portfolio in a changing environment.

Course Outline

Program and Portfolio Concepts

  • Defining project, program and portfolio management
  • Contrasting the relationship between projects, programs and portfolio
  • Benefits of these concepts
  • Factors for success in program management
  • Factors for success in portfolio management

Program Management Life Cycle

  • Typical program management life cycle overview
  • Phase gate process
  • Pre-program preparations
  • Program initiation
  • Program charter

Program Set-Up

  • Program management planning
  • Detailed planning process steps
  • Key stakeholder identification
  • Program scope
  • Program governance
  • Program organizational structure
  • Program infrastructure development
  • Program architecture development
  • Program work breakdown structure development
  • Program schedule development
  • Program risk management

Delivery of Program Benefits and Program Closure

  • Authorize and monitor projects
  • Communication and coordination
  • Change management
  • Performance measurements
  • Escalation actions
  • Program closure

Portfolio Management Overview

  • Benefits of portfolio management
  • Requirements for project portfolio management
  • Introduction to the project portfolio management process groups
  • Key stakeholders in portfolio management

Portfolio Component Selection

  • Strategic Plan
  • Identify portfolio components
  • Categorize components
  • Evaluate components
  • Pair-wise comparison
  • Two criterion comparison grid
  • Scoring models
  • Select components

Balancing the Portfolio

  • Portfolio risk management
  • Prioritize components
  • Balancing the portfolio
  • Probability analysis
  • Graphical methods
  • Communicate portfolio adjustment
  • Authorize components

Monitoring and Controlling the Portfolio

  • Monitor and control portfolio risks
  • Review and report portfolio performance
  • Monitor business strategy changes