Modern Trends in Project Portfolio Management

Introduction:

Effective management of project portfolios has become essential for organizations aiming to achieve their strategic goals in a fast-paced and competitive environment. This course provides participants with the latest tools, techniques, and best practices in project portfolio management. It explores the integration of strategic objectives, resource allocation, risk management, and performance evaluation across multiple projects, ensuring that portfolios align with the broader goals of the organization. By the end of this course, participants will be equipped to make informed decisions, maximize portfolio value, and lead successful project portfolios.

General Objectives:

• Understand the scope and objectives of portfolio management and how it differs from program and project management.
• Apply practical principles and frameworks for successful portfolio management.
• Gain insights into the roles of senior management and stakeholders in achieving portfolio success.
• Learn to utilize global tools and techniques to manage portfolios effectively, tailored to specific organizational needs.
• Measure and maintain portfolio success using Key Performance Indicators (KPIs) and risk management strategies.

Target Audience:

• Project and portfolio managers
• Program and project management professionals
• Professionals involved in risk management and performance evaluation
• Senior executives and leadership teams seeking to enhance portfolio management strategies
• Strategic planners and business analysts
• Professionals involved in change management and corporate governance
• Stakeholder management and communication specialists

Course Outline:

Day 1: Introduction to Portfolio Management

• Overview of project portfolio management and its differences from program and project management.
• Importance of portfolio management in aligning with strategic objectives.
• Understanding the role of senior management in portfolio success.
• Exploring the main components of effective portfolio management.
• Case studies of successful portfolio management implementations.

Day 2: Practical Application of Portfolio Management Principles

• Tools and techniques for developing and managing portfolios effectively.
• Strategies for aligning portfolio management with organizational goals.
• Resource allocation and balancing priorities across multiple projects.
• Creating a framework for continuous monitoring and adjustment of portfolios.
• Practical exercises in managing and assessing portfolio performance.

Day 3: Risk Management in Portfolios

• Identifying risks across a portfolio of projects and evaluating their impact.
• Techniques for implementing risk management strategies in portfolios.
• Developing a risk mitigation plan for portfolio sustainability.
• Understanding the role of risk tolerance in decision-making for portfolios.
• Case studies on managing risk in complex project portfolios.

Day 4: Performance Management and KPIs in Portfolios

• Key Performance Indicators (KPIs) and their role in portfolio management.
• Techniques for measuring performance and assessing the success of portfolios.
• Using data analytics to evaluate portfolio efficiency and outcomes.
• Understanding the feedback loop and continuous improvement in portfolio management.
• Case studies on improving performance through targeted KPI implementation.

Day 5: Stakeholder Engagement and Communication in Portfolios

• Identifying and engaging key stakeholders in the portfolio management process.
• Strategies for effective communication across projects and portfolios.
• Managing stakeholder expectations and ensuring alignment with portfolio goals.
• Developing a communication plan tailored to different project phases.
• Case studies on effective stakeholder management in project portfolios.