A Project Portfolio translates strategic objectives into the context of enterprise values, capabilities, capacities, and priorities. In general terms, the objective of portfolio management is to create the highest portfolio value within the given constraints. Projects are investments – not expenditures – to create future value. They require justification why and how they are aligned with strategic objectives or organizational goals and to what extend the contribute to value creation – better than other options. Managing project investments collectively brings coherence to implementing the strategic as well as operational initiatives.
Upon completion of this course, you will be able to:
- See the holistic picture of important context aspects of project portfolio management relevant to align projects with strategy and organizational goals.
- Understand the basic concepts, elements and “how to” of PPM: decomposition of strategies and project life cycles • busines cases • demand management, scoring, prioritisation and selection for projects, evaluation and approval of projects and phases • analysis and management of portfolio risks, control of the portfolio, and criteria to terminate a project.
- Understand how to match or weave different project methodologies and mindsets (i.e. classical, agile, lean, hybrid).
- Develop key design requirements of a resource/value balanced portfolio.
- Understand practical challenges and pitfalls and how to overcome them in executing PPM.
- Implement a practical methodology to build and manage a project portfolio that will maximize resource allocation, business value and return on investment.
Introduction to Project Portfolio Management:
What is project portfolio management? – What are the core elements of project portfolio management? – Why does my company need project portfolio management? – How is it different from multi-project management? – What are the methodologies for project portfolio management?
Project prioritisation and selection:
Deriving portfolio objectives from corporate strategy – Developing a scoring model for project prioritisation – The project proposal as a starting point – What to look for in the business case for a project proposal? – Case study: Project prioritization. – How to decompose life cycles
Project portfolio management processes:
The review and approval process for project proposals – Necessary integration/interface definition with other business processes – Checking project feasibility – Going through an approval process – Matching different mindsets and methods (classical, agile, lean, hybrid). -Performing resource reconciliation.
Portfolio monitoring and controlling:
Required status and progress information – Target group-specific reporting – Rules and processes for planning deviations and strategy/priority changes – Risk and value management in the portfolio – Exercise of an example portfolio – Portfolio control (calibrating, updating) – Support tools (software).
Maturity of portfolio management:
Maturity levels and measurements of maturity, Capability requirements
Interface management – Implementation vehicle Portfolio/Program/Project Management Office (PMO) – Problems and pitfalls – approaches.
Accelerated learning with presentations, cases studies, exercises, discussions
- Public course: 3 days / 2.160,– € (excl. TVA) per participant
- Internal course: 3 days / 4.899,– € (excl. TVA) up to 9 participants