2 Believing that better results are more produced by the skilled project

2 believing that better results are more produced by

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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 role level. 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 Lifecycle 8 Role Role Task Task Success Success
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 resources 3. Steering of portfolio 4. Learning of organization objectives 9 Goal Goal Define the portfolio Define the portfolio Optimize portfolio value Optimize portfolio value Protect portfolio value Protect portfolio value Deliver portfolio value Deliver 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: 10 Pillars Pillars Assessment Assessment Prioritization Prioritization Performance Performance Funnel management Funnel management Step 1 Step 1 collection of data collection of data Step 2 Step 2 Development of strategy/assessm ent Development of strategy/assessm ent Step 3 Step 3 Precurement Precurement Step 4 Step 4 Management of contract Management of contract Step 5 Step 5 Portfolio management Portfolio management
Project Portfolio Framework In this Framework, there is all about that how the resource capacity is evaluated like governance of portfolio, analysis of resource, management of good resource, planning of project planning and data of resources. The prioritization of projects is like whole delivery team of project on benefits of business is focused. The optimization of projects like alternative solutions are available and finding solutions from them with cost effectiveness and with high attainable and implementable performance. The minimization of risks like try to do everything possible for reduction of the risk. 11 Evaluation of resource capacity Prioritization of projects Optimization of projects Risk minimization
Project Portfolio Management System: Project portfolio management main objectives: In the project portfolio the most basic and first objective without portfolio management is incompleteness of alignment of the project portfolio.

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