Implementing Project Portfolio Management

Implementing Project Portfolio Management

by Te Wu, Panos Chatzipanos
Released September 2018
Publisher(s): Project Management Institute
ISBN: 9781628255584

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Book description

Implementing Project Portfolio Management addresses the “how-tos” of portfolio management. A major contribution to a field still evolving, this guide is aligned to The Standard for Portfolio Management – Fourth Edition and provides guidance for implementation.

The real value the authors provide in this guide are insights on how to apply the performance management domains covered in the standard that are in practice today by introducing tools and templates into their discussion. Expansive in range, the management topics addressed include life cycle, strategy, governance, complexity, capacity and capabilities, stakeholders, value, risk, and agile practices in portfolio management.

Ultimately, successful portfolio management requires all management levels to support and communicate the value of portfolio management to the organization and stakeholders—from innovation and ideation to selecting the right projects. Far-reaching in its impact on portfolio management practitioners, thinkers, stakeholders, and the wider project management community, this guide envisions the continued transformation of portfolio management with the changing needs of organizations and advances in technology. For that reason, the authors created an accompanying website (www.implementppm.com), which provides a forum for continuing the conversation regarding the concepts and practices of portfolio management.

Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Dedication Page
  5. Table of Contents
  6. List of Tables
  7. List of Figures
  8. Introduction
    1. Purpose of this Book
    2. Establishing the Core Team for the Project Management Institute's Portfolio Management Core Team for the Fourth Edition (by Gary Sikma and Dave Ross)
    3. Terminology and Convention
  9. Part I: An Executive Guide to Portfolio Management
    1. Chapter 1: Understanding Portfolio Management (by Te Wu)
      1. 1.1. A Case for Portfolio Management
      2. 1.2. Defining Portfolios and Portfolio Management
      3. 1.3. Relationship between Portfolio Management and Organization
      4. 1.4. Relationship between Portfolio, Program, and Project Management
      5. 1.5. How to Make Portfolio Management Work—Essential Principles of Portfolio Management
      6. 1.6. How to Be an Effective Portfolio Manager
  10. Part II: A Practitioner's Guide to Portfolio Management
    1. Chapter 2: The Portfolio Life Cycle (by Panos Chatzipanos)
      1. 2.1. The Portfolio Life Cycle within the Organizational Environment
      2. 2.2. Portfolio Life Cycle Management Framework
      3. 2.3. The Portfolio Component Stages and Portfolio Life Cycle
      4. 2.4. Portfolio Management Information System (PMIS)
      5. 2.5. Governance within the Portfolio Life Cycle
      6. 2.6. Portfolio Stakeholders
      7. 2.7. Portfolio Component Interdependencies and System Dynamics – Managing Dependencies and Component Interfaces
      8. 2.8. Organizational Influences on Portfolio Management
      9. 2.9. The Portfolio Life Cycle – Further Considerations
    2. Chapter 3: Portfolio Strategic Management (by Steve Butler, Te Wu, and Panos Chatzipanos)
      1. 3.1. Strategy and Strategy Alignment
      2. 3.2. Enabling Well-Defined Strategy
      3. 3.3. Understanding Strategic Risk Appetite
      4. 3.4. Developing Portfolio Goals, Strategic Objectives, and Strategic Plans
      5. 3.5. Creating the Portfolio Charter
      6. 3.6. Building the Portfolio Roadmap
      7. 3.7. Managing Strategic Alignment
      8. 3.8. Managing Component Dependencies
      9. 3.9. Managing Portfolio Alignment to Organizational Strategy
      10. 3.10. Optimizing the Portfolio Management Process – Using Analytical Hierarchy Processing
    3. Chapter 4: Portfolio Governance (by Nick Clemens)
      1. 4.1. Governance Principles
      2. 4.2. Portfolio Governance Management
      3. 4.3. Tools and Techniques
    4. Chapter 5: Portfolio Resource Capacity and Capability Management (by Panos Chatzipanos)
      1. 5.1. Overview
      2. 5.2. Guiding Principles for Managing Organizational Resource Capacity and Capability
      3. 5.3. Capacity Management
      4. 5.4. Capacity Planning
      5. 5.5. Supply and Demand Management
      6. 5.6. Monitor, Control, and Optimize Supply and Demand
      7. 5.7. Organizational Capabilities – Assessment and Development
      8. 5.8. Balance Capacity and Capability
      9. 5.9. Performance: Analytics and Reporting
    5. Chapter 6: Engaging Portfolio Stakeholders (by Te Wu)
      1. 6.1. Defining Stakeholder Management
      2. 6.2. Why Are Stakeholders so Critical?
      3. 6.3. Important Activities of Portfolio Stakeholder Management
      4. 6.4. How to Identify Stakeholders
      5. 6.5. How to Best Organize and Prioritize Stakeholders
      6. 6.6. How to Plan Stakeholder Engagement
      7. 6.7. How to Develop a Robust Portfolio Management Communication Plan
      8. 6.8. How to Engage Stakeholders and Manage Their Expectations Sustainably throughout the Portfolio Life Cycle
    6. Chapter 7: Portfolio Value Management (by Debbie McKee)
      1. 7.1. Setting and Negotiating Value Targets
      2. 7.2. Value Management Framework
      3. 7.3. Balancing Value and Risk, Strategic Prioritization
      4. 7.4. Monitoring and Measuring Value
    7. Chapter 8: Portfolio Risk Management (by Nick Clemens and Debbie McKee)
      1. 8.1. Context of Portfolio Risk Management
      2. 8.2. Tools and Techniques
      3. 8.3. Risk Focus
      4. 8.4. Portfolio Risk Management Plan and Risk Identification
      5. 8.5. Portfolio-Level Risk Approach, Processes, and Policies
      6. 8.6. Guidance to Subordinate-Level Projects, Programs, and Operational Entities
      7. 8.7. Risks Associated with Stakeholder Engagement
      8. 8.8. Portfolio Risk Assessment
      9. 8.9. Portfolio Risk Response
      10. 8.10. Risk Management Overhead and the Value Proposition
      11. 8.11. Summary
  11. Part III: A Strategist's Guide to Advance Portfolio Management
    1. Chapter 9: Achieving and Sustaining Execution Excellence through Strategic Business Execution (by Te Wu)
      1. 9.1. Introduction
      2. 9.2. Some Limitations of Today's Project Environment
      3. 9.3. Understanding the Strategic Business Execution Framework
      4. 9.4. Creating an Execution Excellence Culture
      5. 9.5. Enhancing Individual Competencies
      6. 9.6. Building and Strengthening Core Disciplines
      7. 9.7. Achieving Integration throughout the Organization
      8. 9.8. Final Words on Strategic Business Execution (SBE)
    2. Chapter 10: Applying Systems Thinking to Portfolio Management (by Panos Chatzipanos)
      1. 10.1. Understanding Systems – Frame of Reference
      2. 10.2. Systems Thinking in a Portfolio Management Context
      3. 10.3. Applying Systems Thinking to Portfolio Management
      4. 10.4. The Portfolio System and Its Environment – A Holistic Approach
      5. 10.5. The Simple, the Complicated, and the Complex Components of a Portfolio System
      6. 10.6. Improving Portfolio Systems
    3. Chapter 11: Encountering, Harnessing, and Navigating Complexity (by Panos Chatzipanos)
      1. 11.1. Complexity Awareness within the Portfolio Environment
      2. 11.2. Causes of Complexity – Portfolio System Characteristics
      3. 11.3. Classification and Characteristics of Complexity in a Portfolio Environment
      4. 11.4. Evaluating the Effects of Complexity during the Portfolio Life Cycle
      5. 11.5. Navigating Portfolio Complexity
      6. 11.6. The Impact of Portfolio Complexity to the Organization – Organizational Management Framework Considerations
    4. Chapter 12: Agile Portfolio Management (by Gary Sikma and Nick Clemens)
      1. 12.1. Agile Manifesto
      2. 12.2. Difference between Agile and Traditional Project and Task Management
      3. 12.3. Some Benefits of Agile
      4. 12.4. Why Is There a Need for Agile Portfolios?
      5. 12.5. Strategic Alignment
      6. 12.6. Key Stakeholders
      7. 12.7. Agile and Project, Program, and Portfolio Management
      8. 12.8. Scaling Techniques
      9. 12.9. Decision Cycles
      10. 12.10. Product Requirements
      11. 12.11. Funds Management
      12. 12.12 Conclusion
    5. Chapter 13: Dealing with Environmental Factors and Cross-Cultural Challenges in Portfolio Management (by Panos Chatzipanos)
      1. 13.1. Ethical Cultural Considerations for the Portfolio Manager
      2. 13.2. Navigating Multicultural Issues within a Portfolio, Persuading in a Multicultural Portfolio Environment, and Managing Human Capital
      3. 13.3. Component Scheduling of a Multinational Portfolio – Cross-Cultural Perceptions of Time
      4. 13.4. Organizational Culture – Performance of Organizational Change through a Cultural Lens
    6. Chapter 14: Current Trends in Portfolio Management (by Te Wu)
      1. 14.1. Taking Agile from Project to Portfolio to Enterprise
      2. 14.2. Using Technology to Manage Emergent Risks
      3. 14.3. Portfolio Management Drives Innovation and Ideation
      4. 14.4. PMO and Strategic Execution
      5. 14.5. Achieving Benefits Realization at the Organizational Level
      6. 14.6. Importance of People in Portfolio Management
      7. Conclusion
  12. References and Endnotes
  13. Biographies
    1. Our Team
      1. Final Words

Product information

  • Title: Implementing Project Portfolio Management
  • Author(s): Te Wu, Panos Chatzipanos
  • Release date: September 2018
  • Publisher(s): Project Management Institute
  • ISBN: 9781628255584