One Page Overview Of Project Portfolio Management
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One Page Overview of Project Por1olio Management (PPM) KEY AREAS POINTS TO CONSIDER IMPORTANT RIGHT PROJECTS WRONG PROJECTS DECISIONS RIGHT PROCESS RIGHT THINGS IMPROVE PPM What are the “right Is the organisa.on doing How to improve investment decision-‐making with What is the right way to How can the organisa.on How can the organisa.on PPM QUESTIONS projects” the organisa.on projects that it should not project priori.sa.on? do project porFolio make sure it is doing improve its project should focus on? be doing? management? things right porFolio management? PROJECT PROJECT NAME PROJECT TYPE DURATION & BUDGET BUSINESS CASE PROJECT COMPLEXITY RESOURCES DEPENDENCIES MASTER SCHEDULE Project name and project Mandatory, regulatory, Es.mated dura.on and Business case (ROI) and Project complexity and Resource requirements Other project Consolida.ng all projects INVENTORY sponsor maintenance, budget of project iden.fied business amount of risk involved (IT and business capability dependencies and into a single master enhancement, business benefits to handle new project) linkages schedule as a single growth, innova.on source of truth ESTABLISH PPM PPM COMMITEE PPM REPORTING STRATEGIC CRITERIA PPM METRICS PPM ALIGNMENT PPM STRATEGY PPM CHARTER PPM PM ARTEFACTS Decide PPM steering Determine PPM repor.ng Align on strategic value Align on measurement Obtain leadership Decide on strategy for the Develop a charter Develop project mandate FRAMEWORK membership structure criteria and monitoring guidelines agreement on goals of enterprise PPM document to launch PPM business case for PPM enterprise PPM project IMPLEMENT PPM TECHNOLOGY SYSTEMS SOFTWARE FORMAT TEST PPM REPORTING FORMAT Buy and install systems for governance (if required) Decide and align on format of PPM soUware to capture PPM inputs and outputs Test the PPM format with key stakeholders FRAMEWORK PPM PROCESS BUSINESS CASE TEMPLATE TRANSITION PLAN PROCESS Develop PPM process Define business case template Develop transi.on plan for exis.ng projects in pipeline PEOPLE PPM USER DOCUMENTATION PPM COMMUNICATIONS PPM TRAINING Develop PPM communica.ons plan, PPM user Implement PPM communica.ons plan to key stakeholders Train key stakeholders on governance process, documenta.on and training materials documenta.on and repor.ng INFORMATION PROCESS FOR PPM METRICS CONTINUOUS IMPROVEMENT OF PPM REPORTING Implement roles, responsibili.es and process for capturing PPM metrics Review and modify PPM repor.ng based on key stakeholder feedback KEY STEPS FOR PRIORITISE ESTABLISH PORTFOLIO INITIAL PORTFOLIO INITIAL REPORTS MONITORING & PPM FRAMEWORK IMPLEMENT PPM PPM METRICS INVESTMENTS Establish porFolio of Determine ini.al ‘ac.ve’ Provide ini.al reports REPORTING Review and modify the Implement opera.onal Capture PPM metrics and ESTABLISHING Evaluate and priori.se poten.al investments porFolio Establish regular PPM framework as PPM framework process report them on a regular PPM FRAMEWORK investments monitoring and repor.ng needed based on reviews basis PIPELINE WHICH PROJECTS STRATEGIC PLAN RESOURCE MANAGEMENT CAPACITY PLANNING EVALUATION The determina.on of The ability to align the • The focus on efficient and effec.ve deployment of an organisa.on’s resources where Proac.ve capacity planning allows organisa.ons to Con.nuous process of MANAGEMENT which set of projects in decision-‐making process and when needed finalise a release roadmap that maximises resource evalua.ng an the porFolio can be for es.ma.ng and • These can include financial resources, inventory, staff, technical skills, produc.on and u.lisa.on organisa.on’s resources executed by a company selec.ng new capital design and performance to with finite resources in a investment projects with determine its capacity for specific .me the strategic plan produc.on of work PPM BENEFITS ALIGNMENT DEMAND MANAGEMENT PORTFOLIO SELECTION CAPACITY PLANNING PORTFOLIO REPORTING IMPROVED VISIBILITY RESOURCE FINANCIAL Improved alignment with Improved demand Enhanced porFolio More effec.ve capacity More efficient porFolio Improved visibility and MANAGEMENT MANAGEMENT business strategy management selec.on planning repor.ng control with the Improved resource More effec.ve financial organisa.on management management PROJECT REPORTING PROJECT SCHEDULING PROJECT COLLABORATION KNOWLEDGE SHARING CHANGE MANAGEMENT COMMUNICATIONS RISK MANAGEMENT Improved project Improved project MANAGEMENT Improved organisa.on More structured sharing Improved Change BeZer communica.on of More effec.ve issues and repor.ng scheduling More effec.ve project collabora.on from of informa.on to support management schedule milestones risk management management working to same agenda knowledge sharing and priori.es VALUE OF PROJECTS RISK MANAGEMENT FINANCIAL MANAGEMENT The value of projects can be demonstrated with the strategic objec.ves and priori.es of • An analysis of the risk sensi.vi.es residing within each project, as the basis for • Finance can improve their accuracy for es.ma.ng and the organisa.on through financial controls and to assess progress through earned value determining confidence levels across the porFolio managing the financial resources of projects and other project financial techniques • The integra.on of cost and schedule risk management with techniques for determining • Projects excluded and not funded should have clear con.ngency and risk response plans, enable organisa.ons to gain an objec.ve view of reasons with future ac.ons recommend either to project uncertain.es and to develop a ‘risk adjusted schedule strengthen the business case or cancel the project © Third i Consul.ng Kigospace.com
One Page$Overview$of$Project$Por1olio$Management$(PPM)$ ©ThirdiConsulng" Kigospace.com" KEY$AREAS$ POINTS$TO$CONSIDER IMPORTANT$$ …
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Frequently Asked Questions
What is the difference between project and portfolio management?
portfolio management?
- Scope. One way to understand the scope of these three levels of management is that multiple projects make up a program and multiple projects and programs make up a portfolio.
- When it's used. Project management: You would apply project management when overseeing a single project and its team members, budget and deadlines.
- Best practices. ...
What does it take to be a project portfolio manager?
Portfolio Manager Educational Qualifications. A bachelor's degree in a relevant field is a basic qualification for work as a portfolio manager. However, many employers require master's degrees ...
What is the process of project portfolio management?
“The concept of project portfolio management refers to organizations managing their composite groups of projects with the same rigor, balance, executive leadership, and decision-making involvement as the company’s financial portfolio.Portfolio Management is an ongoing process that includes decision-making, prioritization, review, realignment, and reprioritization.”
What are the project portfolio management elements?
What is the Project Portfolio Management Process (PPM)?
- Key Elements of Project Portfolio Management (PPM) Defining: The product portfolio manager develops an overall strategy for organizing and managing the portfolio of products, which includes identify common markets, common ...
- Organizational Hierarchy of the Portfolio. ...
- Key Aspects of Executing the Portfolio Management Process. ...
- Measuring Value. ...