Project Portfolio Management
Overview:
Introduction:
This training program helps organizations prioritize the right projects, maximize return on investment, and achieve strategic goals. It empowers them to make informed decisions and drive organizational success.
Program Objectives:
At the end of this program, participants will be able to:
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Effectively apply PPM frameworks and methodologies to select, prioritize, and manage projects aligned with organizational strategy.
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Utilize tools and techniques for portfolio balancing, resource allocation, and risk management.
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Develop and implement a project portfolio management plan to ensure efficient project execution and monitor performance for portfolio alignment.
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Communicate portfolio decisions and risks effectively to stakeholders at all levels.
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Measure and track key performance indicators (KPIs) to assess portfolio performance and identify opportunities for improvement.
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Develop a continuous improvement plan for PPM practices to optimize project selection, resource allocation, and overall portfolio success.
Targeted Audience:
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Project Managers.
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Program Managers.
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Portfolio Managers.
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Business Analysts.
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Executives involved in project selection.
Program Outline:
Unit 1:
Foundations of Project Portfolio Management (PPM):
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Define PPM and its core principles.
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Differentiate between projects, programs, and portfolios.
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Explore the benefits and challenges of implementing PPM.
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Identify key stakeholders involved in PPM processes.
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Discuss the alignment of PPM with organizational strategy.
Unit 2:
Strategic Portfolio Selection and Prioritization:
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Develop criteria for project selection and prioritization.
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Apply various portfolio management frameworks (MoP, Balanced Scorecard).
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Analyze project proposals for strategic alignment and risk assessment.
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Utilize tools and techniques for portfolio balancing.
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Communicate portfolio decisions to stakeholders.
Unit 3:
Project Portfolio Management Processes:
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Define the stages of the PPM lifecycle (initiation, selection, execution, monitoring & control).
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Implement project portfolio management tools and software.
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Develop a project portfolio management plan.
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Manage resource allocation across projects within the portfolio.
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Monitor and control project performance for portfolio alignment.
Unit 4:
Risk Management in Project Portfolios:
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Identify and assess risks across the project portfolio.
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Develop mitigation strategies for portfolio-level risks.
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Integrate risk management processes into PPM practices.
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Utilize risk management tools for portfolio analysis.
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Effectively communicate risks and mitigation plans.
Unit 5:
Optimizing Project Portfolio Performance:
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Implement portfolio governance structures and reporting processes.
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Measure and track key performance indicators (KPIs) for portfolio success.
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Conduct portfolio audits and evaluations to identify improvement opportunities.
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Develop a continuous improvement plan for PPM practices.
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Leverage lessons learned to enhance future portfolio decisions.