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Overview:
The Challenge
Where do your projects come from? Are they carefully examined for alignment with Business Strategy and Return on Investment before funding is allocated, or do projects seem to just appear for reasons that are often not at all apparent? It should be obvious that, insofar as projects represent a major expense for any enterprise, we would do well to consider carefully h our project dollars are spent. But how can we do this effectively?
The Solution
One of the primary principles of Project Portfolio Management is that "Every project is an investment". This view drives us to fund projects purely on their merits, e.g. when they are fully aligned with Business Strategy, and then to fully support them with the resources and structure they need for success. Choosing the right projects at the right time positions the enterprise to make best use of resources. Implementing project best practices helps ensure that those projects deliver their intended Business Value. Using this overall approach serves to boost the ROI of the entire projects portfolio. This one day course presents tools, techniques and best practices that promote objective project selection and improve overall project success rate. Principles taught in this course can be incorporated into the Project Portfolio Management process of any organization. Topics include:
- Overview of the PPM Process
- How projects support Business Strategy
- The Project Selection Process
- Project Identification
- Project Selection Criteria
- Evaluating and Selecting Projects
- Project Categorization
- Project Prioritization and Funding
- Real World PPM
Audience:
Portfolio managers; anyone who uses projects to execute Business Strategy; CEO, CFO, CIO, other senior executives; PMO Directors; functional managers and executives with project responsibility; teams who will perform project evaluation and selection.
Prerequisites
This course assumes familiarity with basic project management concepts. There is no requirement that attendees complete any specific project management training in advance, but completion of a Project Management overview course is helpful.
Course duration:
1 day
Course Outline:
Section 1: Introduction to Project Portfolio Management (PPM)
· What is PPM?
· Fundamental PPM concepts
· PPM roles and responsibilities
· Promise of PPM
Section 2: PPM Process Overview
· PPM overview
· PPM linkages
· Roles in PPM
· Organizational influences
· PPM process groups
Section 3: Portfolio Definition
· Definition and Purpose
· Portfolio Definition Process
- Portfolio Overview
- Stakeholders & Governance
- Portfolio Processes
- Authorization
Section 4: Project Identification and Categorization
· Project Identification
· Project Categorization
· Project Size
· Project Register
Section 5: Project Evaluation
· Participants
· Evaluation Process
· Selection Criteria
· Tools and Techniques
· Evaluation Output
Section 6: Project Selection
· Guidelines
· Participants
· Project Selection Logic
· Project Selection Tools
Section 7: Project Prioritization and Authorization
· The Prioritization Process
· Participants
· Project Prioritization Tools
· Project Prioritization Logic
· Authorization and Budgeting
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 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?
- Choosing the Right Projects for the Right Time presents a practical approach to implementing PPM in a way that can drive your Business Strategy forward. Take home a clear understanding of what you can do that will make a difference.
- Take this management training course and learn what you can do to ensure that you choose the projects that are the best investment 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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