Portfolio Management Master Class

The PfM² Portfolio Certification is designed to confirm a candidate’s understanding of key portfolio management concepts and knowledge of the PfM² Methodology. 

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. 

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

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

The exam questions are based the following:

• PfM² Methodology Guide
• All PfM² Artefacts
• Key Portfolio Management Tools & Techniques 
• PfM² Exam Preparation Quiz

Project portfolio management is a specialized project management framework that focuses on overseeing and managing a collection of projects, and programmes. Project portfolio management involves making decisions about which projects to include in the portfolio, how to allocate resources to each project, and how to prioritize projects in order to achieve the desired goals.

This might include identifying the most important projects to the organization, determining how much funding each project should receive, and deciding which projects should be pursued and which should be cancelled.

Project portfolio managers may use a variety of tools and techniques to help them make these decisions, such as project prioritization frameworks, resource allocation models, and project performance metrics. Overall, the goal of project portfolio management is to ensure that the organization's project portfolio is aligned with its strategic goals and that resources are allocated effectively to support the most important projects.

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.

While project portfolio management frameworks can provide a number of benefits, there are also some challenges and potential barriers to their successful implementation. Some of the main challenges in applying project portfolio management frameworks include:

• Resistance to change: Project portfolio management frameworks often require a shift in mindset and approach, and this can be difficult for some people to accept. Some team members may be resistant to the idea of using new tools and techniques, and this can make it difficult to implement project portfolio management frameworks successfully.
• Limited resources: Project portfolio management frameworks often require a significant investment of time and resources, and some organizations may not have the resources available to devote to the process. This can make it difficult to conduct the necessary research, create and maintain the necessary tools and systems, and train staff on how to use the frameworks effectively.
• Lack of skills and experience: Project portfolio management is a specialized skill, and not everyone may have the knowledge or experience to apply it effectively. Organizations may need to invest in training and development in order to build their project portfolio management skills.
• Incomplete or inadequate data: Project portfolio management frameworks rely on accurate and up-to-date data in order to make informed decisions. If the data is incomplete or inadequate, it can lead to decisions that are not based on the best available information, and this can make it difficult to optimize the portfolio of projects.
• Lack of management support:  It can be frustrating when you don't have the support of management for project portfolio management. This can make it difficult to properly prioritize projects and allocate resources, which can lead to suboptimal outcomes for your organization. To address this issue, it's important to communicate the benefits of project portfolio management to your management team. This could include improved alignment with business goals, better risk management, and increased efficiency and productivity. You may need to provide examples and case studies to illustrate these benefits and show how they can help your organization achieve its objectives. It may also be helpful to involve key stakeholders in the process of developing and implementing your project portfolio management strategy. This can help build support and buy-in for the initiative.

Overall, while project portfolio management frameworks can provide a number of benefits, there are also some challenges and potential barriers to their successful implementation. Organizations need to be prepared to overcome these challenges in order to apply project portfolio management frameworks effectively.

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.