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Overview:
The Challenge
Project Portfolio Management (PPM) is the set of processes that ties project execution to achievement of business strategy. It determines how you choose and fund your projects and is a primary determinant of how much value you receive for each project dollar. PPM is currently regarded as a core business practice. Efforts made to improve the implementation of PPM can have a substantial impact on the bottom line. However, PPM is complex and any effort to improve it should be done in a systematic and careful manner.
The Solution
This course is intended for those who wish to improve and formalize PPM in their organization. After reviewing the fundamentals of effective PPM, participants evaluate current PPM practice, design a more effective PPM practice, and determine the steps needed to reach a higher level of PPM maturity. The ratio of exercise to lecture is very high with the result that participants actually begin the work of redesigning PPM in their environment. Implementing Practical Project Portfolio Management is exceptionally effective when conducted onsite with your key PPM players participating. Learning Objectives include understanding of the following:
- 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
- Portfolio definition
- Role of the Executive 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 course will be of great 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 course does not require any prior project training or special knowledge of project management concepts, although a basic understanding is helpful for some of the exercises.
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
- People, Process and Tools
- The PPM Project Charter
- Organizational Impact of PPM
Day 2
- Prerequisites of PPM
- PPM Process Groups
- The PPM Process – Overview
- 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 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 in all of your future projects.
- 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?:
- Implementing Practical Project Portfolio Management presents a practical approach to implementing PPM in a way that can drive your Business Strategy forward. Take home a whole new set of tools and techniques.
- Take this management training course and learn what you can do to ensure that you choose the right projects at the right time, give them what they need to succeed and reap the benefits of the Business Value that they can deliver.
- Portfolio Management Training delivers insights into the project delivery and funding process that are not available in standard Project Management Training. This course is executive training at its best.
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