Portfolio Management Master Class
Project Management
Upon Request
A practical approach to Organizational Portfolio Management and the PfM² Methodology
In this Portfolio Management intensive seminar we will elaborate on Key Organizational Portfolio Management Concepts, Processes and management activities based on a Process Model, explain portfolio Governance and Artefacts, and present a set of effective portfolio Mindsets.
The masterclass provides a complete and holistic Portfolio Management Methodology (PfM²) which is based on the European Commission’s PM² Suite of Methodologies and was developed to help Functional and Matrix Organisations establish a management framework for the effective management of their organisational portfolios.
We present all portfolio management process, including Portfolio Framework Definition, Portfolio Composition, Portfolio Realisation, Monitoring & Controlling and Portfolio Stakeholder Engagement & Communication.
The PfM² Portfolio Management Methodology
The PfM² Portfolio Management Methodology helps Functional and Matrix Organizations establish an efficient management framework for their portfolios. PfM² portfolio component types can be programmes, projects, but also products, services or other defined constructs.
This course also prepares you for the PfM² Portfolio Certification.
In house training
This course is also offered as an in-house solution designed to align with the unique needs of your company.
The PfM² Portfolio Management Methodology helps Functional and Matrix Organizations establish an efficient management framework for their organizational portfolios. PfM² portfolio component types can be programmes, projects, but also products, services or other defined constructs.
PfM² is an organizational and portfolio management enabler and not just another layer of control and bureaucracy aiming at organisational effectiveness without increasing complexity.
Its model advocates the implementation of organisational portfolio management with a fractal model at global and local levels and aims to make portfolios useful at every level of the organisation.
PfM² Governance
PfM² Processes
PfM² is an iterative process model that consists of five management processes. These processes are carried out throughout the lifecycle of portfolio management:
- Portfolio Framework Definition.
- Portfolio Composition.
- Portfolio Realisation.
- Portfolio Monitoring & Controlling, and
- Portfolio Stakeholder Engagement & Communication.
PfM² Activities
PfM² defines a number of portfolio management activities which are carried out throughout the portfolio management lifecycle. All management activities are executed iteratively within the context of one of the five PfM² processes.
PfM² Artefacts
The PfM² Methodology offers a variety of Artefacts that facilitate the composition, realisation, and monitoring and controlling of portfolio, together with templates and guidelines on how to use them.
PfM² mindsets
PfM² mindsets guide portfolio management teams in cultivating the behaviors needed for managing portfolio effectively. These mindsets establish a common set of beliefs and values, aligning management processes and practices across the organization's portfolios.
Learn about best practices and techniques: This can include learning about different approaches to project prioritization, resource allocation, and project selection, as well as tools and techniques for tracking and measuring project performance.
Develop new skills and knowledge: This can include learning how to apply project portfolio management frameworks and tools, as well as how to make informed decisions about which projects to pursue and how to allocate resources.
Network with other professionals: This can be a valuable source of support, advice, and guidance, and it can help attendees to build relationships with other professionals who can provide valuable insights and advice.
Earn professional development credits: Many professional organizations, such as the Project Management Institute (PMI), offer professional development credits for attending training on project portfolio management. This can help attendees to maintain their professional certifications and stay current with the latest trends and developments in the field. This course offers you 8 PDUs.
- Essentials of Organizational Portfolio Management and connection to Project and Programme Management
- The Role of the Portfolio (Support) Office (PfO)
- Initiating a Portfolio (the Portfolio Handbook)
- Governance – Portfolio Roles & Responsibilities
- Portfolio Management Professes
- Portfolio Framework Definition
- Portfolio Composition
- Portfolio Realisation
- Monitoring & Controlling
- Stakeholder Engagement & Communication
- Portfolio Reporting (the Portfolio Composition & Analysis Report)
- Establishing and selling the Case for Portfolio Management
- The PfM² Portfolio Management Certification
- The PfM² Portfolio Management Methodology Guide (free download here)
- Workbook (PowerPoint slides)
- E-learning space with a collection of online resources
- PfM² Quiz (online)
Revisit our latest webinar on the PM² Project Management Methodology delivered by Mr. Nikos Kourounakis, P² Practitioner & Trainer, PMP, IPMA-D, PM² Management Consultant & Trainer, Senior Consultant - Methodologies at European Commission & Parliament.
Free Webinar (2 hours)Explore PfM² Portfolio Management Methodology by downloading the Guide and reading the articles in the PfM² Library.
PfM² Library & ArticlesI want to learn more about the PfM² Portfolio Certification
The PfM² Portfolio Certification is designed to confirm a candidate’s understanding of key portfolio management concepts and knowledge of the PfM² Methodology.
The PfM² Portfolio Certification is a certification for professionals participating in organizational portfolio management activities or for those looking to transition into an organizational portfolio management role. It confirms a candidate's understanding of key portfolio management concepts and knowledge of the PfM² Methodology.
The Certification exam is based on the PfM² Methodology Guide, PfM² Artefacts, and Key Portfolio Management Tools & Techniques. The exam questions cover the areas of Portfolio Governance, Processes, Artefacts, and Mindsets and focus mainly on the theoretical aspects of the PfM² Methodology, covering the full breadth of the what, when, who, how and why of PfM² Organisational Portfolio Management.
It is an online proctored exam with multiple choice questions. There are no formal prerequisites but it's recommended that candidates first achieve a PM² Certification and complete a PfM² Portfolio Management training offered by a PM² Alliance Affiliated Training Provider (ATP).
Who is this Certification for?
Candidates who achieve the certification prove a level of understanding of the portfolio methodology required to lead or support an organisational portfolio as a Portfolio Manager (PfM), a member of a Portfolio Office (PfO), or a consultant’s position.
The PfM² Portfolio Certification is, therefore, for anyone involved in portfolio management activities, or for anyone who wishes to develop a more holistic profile and transition into an organisational portfolio management role in either a leading or supporting capacity.
- Portfolio Managers (PfMs)
- Members of a Portfolio Office (PfO)
- PMO/PSO members
- Middle or Senior Managers
- Portfolio and project consultants
- Portfolio Managers of EU funded projects
- Programme Managers (PgMs)
- Educators and trainers
What are the prerequisites for PfM²
There are no formal prerequisites for taking the PfM² Portfolio Certification exam. However, we recommend first achieving a PM² Certification and following a PfM² Portfolio Management training from one of our Affiliated Training Providers
Are there study materials for PfM² Certification?
The exam questions are based the following:
- PfM² Methodology Guide
- All PfM² Artefacts
- Key Portfolio Management Tools & Techniques
- PfM² Exam Preparation Quiz
What is Organizational Portfolio Management
As an organisation’s initiatives multiply, the need for a streamlined and standardized method to identify, select, monitor, control, and report on results becomes essential. Portfolio Management offers a solution, enabling organisations to optimise investments by curating portfolios that align with their overall strategy, considering resource capacity, capabilities, and budgetary constraints.
However, the traditional approach of Project Portfolio Management (PPM) falls short in capturing the true essence of organisational investments. Projects, although crucial, merely account for the expenditure of creating an organisational asset without adequately focusing on value creation through the utilization of project outcomes. Furthermore, it usually neglects to consider the Total Cost of Ownership (TCO) associated with the asset, be it a product or service.
This realisation has led to the implementation of Organisational Portfolio Management (OPfM), a more comprehensive, holistic, and forward-thinking approach that encapsulates a broader spectrum of organisational investments. OPfM encompasses projects, programmes, products, services, and operational assets, following them from inception to replacement or retirement.
Positioned between strategic planning and the project and operational management layers, organisational portfolios enable organisations to view and manage financial and human resource investments comprehensively, and achieve the monitoring and controlling and reporting of the portfolio performance and benefits realisation.
Why implementing an Organizational Portfolio Management strategy?
There are several benefits to using project portfolio management frameworks to oversee and manage a collection of projects. Some of the main benefits include:
- Improved alignment with organizational goals: Project portfolio management frameworks can help to ensure that the projects in the portfolio are aligned with the organization's strategic goals and objectives. This can help to ensure that the projects are contributing to the overall success of the organization.
- Better resource allocation: Project portfolio management frameworks can help to ensure that resources are allocated effectively across the portfolio of projects. This can help to avoid over-allocating resources to lower-priority projects, and it can ensure that the most important projects have the resources they need to succeed.
- Increased transparency: Project portfolio management frameworks can provide a clear and transparent view of the portfolio of projects, including which projects are being pursued and how much they are costing. This can help to promote accountability and ensure that stakeholders have a clear understanding of what is happening across the portfolio.
- Improved decision-making: Project portfolio management frameworks can provide the tools and information needed to make informed decisions about which projects to include in the portfolio, how to allocate resources, and how to prioritize projects. This can help to ensure that the portfolio is optimized to achieve the desired outcomes.
Overall, project portfolio management frameworks can provide a number of benefits, including improved alignment with organizational goals, better resource allocation, increased transparency, and improved decision-making.
Who can benefit more from using Organizational Portfolio Management frameworks?
Anyone who is responsible for overseeing and managing a collection of projects can benefit from using project portfolio management frameworks. This might include project managers, program managers, portfolio managers, and executives or leaders who are responsible for making decisions about which projects to pursue and how to allocate resources.
Project portfolio management frameworks can be useful for organizations of any size, in any industry, and they can be applied to a wide range of types of projects, including IT projects, product development projects, construction projects, and more.
Nicos Kourounakis
PMP, P2 Practitioner, IPMA-D, PM² Management Consultant & Trainer
Nicos is a Senior Management Consultant and Trainer. Over the past 20 years, Nicos has been leading consulting projects with major EU Institutions and private organisations working both with larg ...
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