Introduction to Project Portfolio Management (PPM)

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Introduction to project portfolio management …

Introduction to project portfolio management
PPM is generally defined as a strategic, mission driven, dynamic decision making process whereby a business list of active projects is constantly updated and revised [Cooper 2001].
Pillars of PPM
- Organization (Executive support, PMO, steering committees)
- Processes (Project feasibility to Project Acquisition)
- Technology (Repository, Document management, Knowledge management)
Benefits of PPM
- Right selection of projects
- Alignment with strategic goals

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  • 1. Million Dollar Question Participation Grade….
  • 2. Awaneesh Sarupinder Eva London Julia Kimmy What Are We Presenting? Project Portfolio Management..alias PPM
  • 3. Video
  • 4. The PPM Concept Strategic Indices Financial Indices Funding Category Constraint
  • 5. PPM Spectrum Initiative Objective Goal
  • 6. Who the hell needs PPM?
  • 7. Why PPM
    • Enables to use the resources efficiently
    • Can get the support of organization
    • Help organization to align its project workload to meet its strategic goal
    • Make PM’s life easier and more rewarding
  • 8. Why PPM
    • Agility of PPM
    • Central oversight of budget
    • Risk management
    • Demand and investment management with the standardization of investment procedure, rules, and plans
  • 9. Why PPM
    • Improved ability to deliver project
    • Faster response to the changing circumstances
    • Focus on more important things
    • Seek for the same goal
    • Easier to find dependencies among projects
  • 10. Why PPM
    • Do the right work
    • Do the right work faster
    • Use the right resources
    • Do the work right
    • Identify problems and solve it easily
  • 11. Now Diving Deep Into PPM…
  • 12. PPM & Maturity Level
    • Level 1 If a formalized project portfolio management unit exists in the enterprise, it is very modest and not very sophisticated.
    • Level 2 The PPM unit will develop some standard processes and practices for PPM. This unit will probably handle project prioritization processes, cross-project critical processes, and PPM practice across the entire enterprise.
    • Level 3 The PPM unit will establish and monitor use of a complete project portfolio management methodology. Extensive training will be provided to all personnel who would be involved in this process.
    • Level 4 The PPM unit will promote the use of a comprehensive, and possibly singular, portfolio management system across the enterprise. PPM will be fully integrated into business processes as part of the adoption of the management-by-projects concept.
    • Level 5 The PPM unit will monitor the enterprises portfolio, which will probably be running at peak efficiency, for opportunities to recommend continuous improvements in models, indices, processes, and procedures.
  • 13. PPM Stakeholders Integrate Project teams Review Board Members Sponsors EPMO Executive Managers Portfolio manager Program managers Program managers Functional Managers Project team members
  • 14. Portfolio Life Cycle Management Contributed by Shawn Maynard. 2005
  • 15. PPM Processes Determine a viable mix of projects that can meet the organization's goals. Analyze the performance of the projects in the portfolio to see if improvements are warranted Evaluate new opportunities against the projects including the existing and potential projects against the organization's goals. Provide decision makers with the needed information and recommendations Balance the portfolio in terms of specific categories of projects. Plan and execute these projects. proposed by Kendall and Rollins (2003)
  • 16. PPM Models
    • Stage-Gate Model by Cooper, Edgett, and Kleinschmidt (2001)
    • Scoring Models
    • Dependency Matrix and Optimization Model
    • Agile portfolio management by Grant Thornton (2004)
    • Unbalanced Portfolio Concerns
    PPM
  • 17. PPM Implementation Process
    • Manage the implementation of Project Portfolio Management just like that of a project
    • Identify the vision and sponsors for portfolio management
    • Establish an integrated project team representing key areas of the business
    • kickoff meeting
    • Assess the organization's maturity
  • 18. PPM Implementation Process
    • Collect baseline data
    • Prepare Portfolio Manager charter
    • Prepare Portfolio Review Board (PRB) charter
    • Determine roles and responsibilities
    • Appoint a Portfolio Manager and establish the PRB
  • 19. PPM Implementation Process
    • Prepare a work breakdown structure for portfolio management
    • Prepare a portfolio management plan
    • Conduct a stakeholder analysis
    • Prepare a communications management plan and distribute the portfolio management plan
    • Provide orientation sessions on portfolio management
  • 20. PPM Implementation Process
    • Establish the portfolio management model
    • Establish a portfolio management information system
    • Establish a schedule of PRB meetings
    • Schedule regular PPM review meetings
    • Update the PPM process as appropriate
    • Link PPM to the annual budgeting process
  • 21. Project Portfolio Management Tools
    • A tool to facilitate your PMO (portfolio management office) function by
      • providing data acquisition and management
      • supporting project selection, resource allocation
      • reporting and graphing
    • Start Your Tool Selection With The Capabilities Of Your PMO
  • 22. Screenshots of PPM tool A very resource / project management tool look . Monitor portfolio performance across multiple dimensions
  • 23. What PPM Tools Must Deliver
    • Accurately portray the status of investments
    • Readily enable human and financial resources allocation across the investment portfolio
    • Meaningfully interact with stakeholders
    • Make the solution as intuitive as possible
    Partial List Of Portfolio Management Solution Vendors
  • 24. Forrester Wave™: Project Portfolio Management Tools, Q4 ’07 December 2007 “The Forrester Wave™: Project Portfolio Management Tools, Q4 2007”
  • 25. THANK YOU Cant believe its over!!