Project Portfolio Management

Course Overview

This course teaches you how to take a bird's-eye view of all projects within your organization or division. With a portfolio perspective, you can improve resource utilization and planning and make appropriate decisions about adding new projects and continuing current ones. Learn to establish a methodology to evaluate, select, and prioritize projects. Develop skills to monitor resource utilization, cost, and project progress across the portfolio. The tools and techniques practiced in the class will help you select the right projects and ensure their success by establishing a portfolio that is aligned with corporate strategies and return-on-investment goals.

Target Audience

PMO leaders and directors, project management center of excellence leaders and directors, senior project managers, CIOs, and vice presidents.

Course Objectives

What You'll Learn

• Understand why projects fail or succeed
• Establish a methodology for evaluating, selecting, and prioritizing projects
• Identify potential projects and determine their value
• Select appropriate projects to support organizational strategy
• Prioritize projects
• Use advanced techniques to track multiple-project progress
• Manage the enterprise resource pool
• Analyze the portfolio and learn how to increase its effectiveness

Hands-on Exercises

• Assess the project portfolio of your organization
• Choose a scenario and review organizational objectives
• Create a charter for the PPM team
• Design the structure of the PPM team
• Perform a stakeholder analysis
• Develop a business process cycle
• Identify and categorize potential projects
• Evaluate potential projects
• Select the projects for your portfolio
• Prioritize the projects in your portfolio
• Reprioritize the projects using prioritizing techniques
• Create a governance body and reporting criteria
• Compile portfolio cost and schedule data
• Prepare a periodic portfolio review report
• Identify and manage the project risks in your portfolio
• Monitor for changes to the portfolio

Course Content

1. Ensure Project Success

• Why projects fail
• Why projects succeed
• Organizational challenges of managing multiple projects

2. Project Portfolio Management

• Introduction to portfolio management
• The challenges of project portfolio management
• Roles and responsibilities for the portfolio
• Organizational change management to adopt portfolio management

3. Portfolio Management Strategy

• How to identify and select the right projects
• How projects support your organizational strategy
• Identify resource and budget constraints
• Project identification methods

4. Project Selection

• Project selection criteria
• Project selection methods

5. Project Prioritization

• Project prioritization criteria
• Project prioritization methods

6. Best Practices for PPM

• Consistent approach
• Risk analysis
• Strategic planning
• Balanced portfolio

Further Information

Attendance of this course will gain the student24 PMI PDUs