Project Portfolio Management

Overview:

Introduction:

This training program aims to provide a comprehensive understanding of project portfolio management and how to improve organizational performance through effective management of multiple projects. Through it, participants will learn best practices for prioritizing tasks, allocating resources, and evaluating performance to achieve organizational goals in an integrated and continuous manner.

Program Objectives:

By the end of this program, participants will be able to:

• Understand the fundamentals and principles of project portfolio management.

• Develop strategies for effectively prioritizing and allocating resources.

• Apply performance evaluation tools to ensure project goals are met.

• Manage risks associated with project portfolio management.

• Balance organizational goals with available resources.

Target Audience:

• Project managers.

• Team leaders and supervisors.

• Operations managers.

• Decision-makers in organizations.

• Project selection, approval, and governance committees.

Program Outline:

Unit 1:

Principles of Project Portfolio Management:

• Definition and importance of portfolio management in organizations.

• Differences between project management and portfolio management.

• Defining project goals and integrating them with organizational strategy.

• Selecting projects and setting execution priorities.

Unit 2:

Performance Evaluation and Earned Value Analysis:

• Measuring performance using the earned value methodology.

• Developing project-specific performance evaluation criteria.

• Monitoring and assessing financial and operational performance.

• Managing expectations and importance of communicating with stakeholders.

• Performance analysis tools and their role in improving outcomes.

Unit 3:

Risk Management in Project Portfolios:

• Identifying and analyzing potential risks across multiple projects.

• Developing strategies to mitigate risks at the portfolio level.

• Utilizing risk tools to monitor projects.

• Improving decision-making based on risk assessments.

• Integrating risk management into the portfolio management lifecycle.

Unit 4:

Resource Allocation and Priority Management:

• Techniques for resource allocation across multiple projects.

• Balancing priorities and ensuring efficient resource distribution.

• Using technical tools to manage timelines and budgets.

• Handling challenges related to limited resources.

• Case study: Optimizing resource allocation for maximum benefit.

Unit 5:

Continuous Improvement and Change Management:

• Applying continuous improvement principles in portfolio management.

• Managing project change and adapting to variations.

• Importance of engaging teams in continuous improvement processes.

• Leveraging feedback to enhance portfolio management.

• Best practices for achieving sustainable success in project portfolio management.