As organizations reach higher levels of maturity in managing projects individually, they shift their focus to manage 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 course provides you with the tools, techniques, and best practices for managing project portfolios. It offers a “how to” methodology to design, build, and manage a portfolio.
- 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.
- 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.