2.Believing that better results are more produced by the skilled project portfolio managers.3.The clear direction, strategy and necessary information is provided.4.Believe and trust the project portfolio manager to make best decisions.5.The responsibilities are clearly defined which are suitable for the compensation and rolelevel.6.The processes and training responsibilities are provided.7.Supporting the decisions of project portfolio managers.8.Reward the best decisions of project portfolio managers.Project Portfolio Management Lifecycle8RoleRoleTaskTaskSuccessSuccess
Project Portfolio Management Contributions:1.Focus on doing the best or right things.2.Dealing with selection of projects.3.Portfolio goals are aimed.4.Checkout the portfolio benefits, evaluations, assessments and risks.Project Portfolio Management Phases:1.Structuring of portfolio 2.Management resources3.Steering of portfolio4.Learning of organization objectives9GoalGoalDefine the portfolioDefine the portfolioOptimize portfolio valueOptimize portfolio valueProtect portfolio valueProtect portfolio valueDeliver portfolio valueDeliver portfolio value
Project Portfolio Management: (Advantages and disadvantages)Advantages:1.Avoidance of disasters.2.Reduction of risks.3.Optimal funds allocation.Disadvantages:1.Risk diversification.2.There is no downsizing protection.Project Portfolio Management Pillars:Project Portfolio Management Five Steps Process:10PillarsPillarsAssessmentAssessmentPrioritizationPrioritizationPerformancePerformanceFunnel managementFunnel managementStep 1Step 1collection of datacollection of dataStep 2Step 2Development of strategy/assessmentDevelopment of strategy/assessmentStep 3Step 3PrecurementPrecurementStep 4Step 4Management of contractManagement of contractStep 5Step 5Portfolio managementPortfolio management
Project Portfolio FrameworkIn this Framework, there is all about that how the resource capacity is evaluated like governanceof portfolio, analysis of resource, management of good resource, planning of project planningand data of resources. The prioritization of projects is like whole delivery team of project onbenefits of business is focused. The optimization of projects like alternative solutions areavailable and finding solutions from them with cost effectiveness and with high attainable andimplementable performance. The minimization of risks like try to do everything possible forreduction of the risk.11Evaluation of resource capacityPrioritization of projectsOptimization of projectsRisk minimization
Project Portfolio Management System:Project portfolio management main objectives:In the project portfolio the most basic and first objective without portfolio management isincompleteness of alignment of the project portfolio.