Root-causes of project failure are regularly discussed by both project management practitioners and academics. Yet surprisingly, the first critical step during which projects are put on track for success or failure often suffers the most neglect. Project initiation is commonly a victim of insufficient scope definition, missing stakeholder buy-in, and misalignment with strategic objectives; which are then tagged as reasons for distress.
The outcome of project portfolio management (PPM) is also determined, in large part, by its other initial stages. As many portfolio managers have experienced, establishing successful PPM entails far more than the implementation of a portfolio management system. PPM tools installed in a hurry may not achieve the maximum return on their investment, as important prerequisite activities are likely to have been ignored.
Subject Matter Expert, Mario Arlt, will examine the five prerequisite activities to be performed in the initial stages of the PPM process, and which are critical to realising PPM benefits. The presentation will introduce how to best manage the implementation of PPM, as well as how to gain and sustain executive commitment, address gaps in the alignment of organisational strategy and projects, select the most suitable project selection method, and set up an efficient measurement process.
Specific learning objectives will include:
- Developing a PPM Project Checklist
- Understanding the “Strategic Gap” and “Project Gap” of a PPM
- Understanding the approach for setting up an efficient and effective measurement process for both portfolio outcome and portfolio management processes
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*The Project Management Institute requires that a PMP® earn 60 Professional Development Units (PDUs) every three years in order to maintain certification. More Information on PMP® Certification.
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