A practical approach to Project Portfolio Management
In this Portfolio Management intensive seminar we will elaborate on Key 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.
This course also prepares you for the PfM² Portfolio Certification.
The PfM² Portfolio Certification is a certification for professionals participating in 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. 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).
Book your seat until 17 January 2023, and earn a 100 € discount.
Regular fee: 550 €
PfM² promotes portfolio management as an enabler and not just as another layer of control and bureaucracy and aims for 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 portfolio component types can be programmes, projects, but also products, services or other defined constructs.
- Learn about project portfolio best practices & techniques
- Acquire new skills and knowledge
- Earn 8 PDUs
Learn different approaches to project prioritization, resource allocation, and project selection, as well as tools and techniques for tracking and measuring project performance.
Learn 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.
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 up to 8 PDUs.
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.
- Essentials of 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 from http://www.pfm2.website)
- 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.Video
I 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 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.
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 Project Portfolio Management
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.
Why implementing a Project 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.
What are the challenges in applying Project Portfolio Management frameworks
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.
Who can benefit more from using Project 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 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 ...Learn more