Overview:
The Challenge
Is your organization planning to install software that automates Project Portfolio Management (PPM)? If so, yours is one of many that realizes the importance of PPM and wants to get the most out of it. This can be a great move, but ONLY if you first optimize your PPM process.
The Solution
PPM is that set of business processes that ties project execution to achievement of business strategy. It is a primary determinant of how much value you receive for each project dollar. In most organizations the overall PPM process is far from optimal. If PPM is not optimized before a project portfolio management system (PPM software) is configured, the resulting software implementation may fail to meet most of its objectives. However, adequate preparation can make PPM software a major win for your enterprise.
This advanced course shows participants how to improve and formalize PPM in their organization. After reviewing the fundamentals of effective PPM, participants evaluate current PPM practice, find ways to make significant improvements and determine the steps needed to reach a higher level of PPM maturity. The end result is that participants are much more likely to have a successful PPM software implementation.
Guide to Project Portfolio Management Implementation is exceptionally effective when conducted onsite with your key PPM players participating. The ratio of exercise to lecture is very high with the result that participants actually begin the work of redesigning PPM in their environment. Learning Objectives include:
- Reasons for project failure and success
- Why project success is not enough
- How to leverage People, Process and Tools
- The promise of PPM
- Role of formal project management in PPM
- Steps for improving the PPM process
- The power of a PPM project charter
- Role of the Management Team in PPM
- How to define a Portfolio
- Primary business processes of PPM
- How to choose the right projects at the right time
- How to fund projects effectively
- Managing portfolio risk
- Managing change in PPM
- Reporting on portfolio results
- Managing PPM Implementation as a project.
- Gaining organizational adoption of your new PPM process
Audience:
This advanced course will be of significant value to portfolio managers; anyone who uses projects to execute Business Strategy; anyone who is planning on implementing portfolio management software; CEO, CFO, CIO, other senior executives; PMO Directors; functional managers and executives with project responsibility.
Prerequisites:
This advanced project management course assumes familiarity with basic project management concepts. There is no requirement that attendees complete any specific project management training in advance of the program, but completion of Project Management Overview for Managers or Foundation in PM for Senior Managers is helpful
Course duration:
4 days
Course Outline:
Day 1
- What is PPM?
- Fundamental PPM Concepts
- Sources of Project Failure and Success
- PPM Roles and Responsibilities
- Promise of PPM – Delivery of Business Value
- People, Process and Tools
- The PPM Project Charter
- Organizational Impact of PPM
Day 2
- Prerequisites of PPM
- PPM Process Groups
- The PPM Process – Overview
- PPM Best Practice
- Portfolio Definition Process
- Stakeholders & Governance
- Project Identification & Categorization
- Using the Project Register
Day 3
- Evaluating Projects
- Selection Criteria & Scoring
- Evaluation Tools and Techniques
- Importance of Estimates
- Project Selection Criteria and Selection Tools
- Project Prioritization
- How to Fund Projects Effectively
- Managing Risks to the Portfolio
Day 4
- Managing the Portfolio
- Stakeholder Communication
- Reporting on Portfolio Results
- Managing Change in PPM; Fine Tuning the PPM Process
- PPM Implementation as a Program
- PPM Milestones
- Gaining Organizational Adoption of your new PPM Process
Learning Approach:
- A highly experienced instructor will use interactive lecture format, numerous hands on exercises, team activities, group discussions and other techniques to drive home the essential points of this material
- We will build on your prior experience in this topic, while providing you with a structure and vocabulary to use during your PPM software implementation.
- If you have modest project management knowledge, you will find that the clarity of the material and direct presentation style of the instructor will make the subject matter easy to understand.
- You will receive a Student Guide which will help you follow the material, take notes and retain what you learned so that you can apply it on your job.
Why should I take this course?:
- Guide to Project Portfolio Management Implementation presents a practical approach to implementation of PPM software. Take home a whole new set of tools and techniques.
- Take this course and learn what you can do to ensure that your PPM software delivers the Business Value that is intended.
- Portfolio Management Training delivers insights into the project delivery and funding process that are not available in standard Project Management Training. This course is management training at its best.
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