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Breakthrough Project Portfolio Management

Book Description

This unique text discusses why project portfolio management has been elusive to most organizations. It explains how an impactful portfolio is attainable using a back-to-basics approach that includes the use of a simplified form of earned value management called mEVM for measuring and managing a portfolio, adapting it to changing situations, and executing effective decisions. Every section of this practical desk reference provides guidance for getting your portfolio up and running quickly to achieve immediate results. Whether you already have a project portfolio, or are starting to build a portfolio from scratch, this breakthrough book will show you how to obtain a high-performing project portfolio without investing in expensive tools.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright
  4. Contents
  5. Foreword
  6. Dedication
  7. Preface
  8. How to Use This Book
  9. About the Author
  10. WAV™ Page
  11. PART I Key Components of a Portfolio Process
    1. Chapter 1 The Mission-Critical Role of the High-Performing Portfolio
      1. Introduction
      2. Characteristics of the Optimized Portfolio
      3. The Strategic Effect of a Well-Run Portfolio
      4. The Concept of Portfolio Capability Maturity
      5. Relationship of the Maturity of Portfolio Components to Overall Portfolio Maturity
    2. Chapter 2 Portfolio Intake and Assessment
      1. Introduction
      2. The Ideal Portfolio Intake
      3. Portfolio Type and Its Impact on Portfolio Intake
      4. Role of Annual Planning
      5. Building an Intake Solution Using a Word/Excel Template
      6. Building an Intake Solution Using SharePoint
      7. Success Factors for Portfolio Intake
      8. Levels of Portfolio Capability Maturity
      9. Chapter Summary
    3. Chapter 3 Portfolio Annual Planning
      1. Introduction
      2. The Importance of Annual Planning
      3. The Execution of Annual Planning
      4. Pass One of Annual Planning
      5. Pass Two of Annual
      6. Pass Three of Annual Planning
      7. Key Outputs of the Annual Planning Exercise
      8. Pointers to Success in Annual Planning
      9. Levels of Portfolio Capability
      10. Chapter Summary
    4. Chapter 4 Portfolio Funding Strategies
      1. Introduction
      2. The Portfolio Annual Funding Cycle
      3. The Challenges in Managing the Portfolio Funding Cycle
      4. Best Practices to Optimize Portfolio Funding Decisions
      5. Portfolio Funding Model
      6. Levels of Portfolio Maturity
      7. Chapter Summary
      8. Notes
    5. Chapter 5 Portfolio Performance Monitoring
      1. Introduction
      2. What Could Go Wrong in a Project?
      3. Key Portfolio Indicators That Need to Be Reported and Tracked
      4. Drawbacks of Traditional Methods of Project Performance Monitoring
      5. Why Is R/Y/G Such a Poor Proxy for Project Performance?
      6. mEVM: The Swiss Army Knife of Performance Monitoring
      7. How to Use the Outputs from mEVM for Portfolio Performance Monitoring
      8. The Enhanced Monitoring List
      9. Levels of Portfolio Capability
      10. Chapter Summary
    6. Chapter 6 Portfolio Rebalancing
      1. Introduction
      2. Portfolio Balancing in a Financial Portfolio
      3. Applicability of Portfolio Balancing to a Project Portfolio
      4. The Fundamental Need for Portfolio Rebalancing
      5. The Prerequisites of Portfolio Rebalancing
      6. Scenarios Where Portfolio Rebalancing Is Required
      7. Why Portfolios Find It Hard to Rebalance
      8. An Alternative View about Project Portfolio Rebalancing
      9. Chapter Summary
    7. Chapter 7 Portfolio Benefits Realization
      1. Introduction
      2. Types of Benefits
      3. Nonmonetary Benefits
      4. The Portfolio Benefits Realization Process
      5. Levels of Maturity
      6. Chapter Summary
      7. Note
  12. PART II mEVM
    1. Chapter 8 Introduction to mEVM
      1. Introduction
      2. Why Is It So Hard to Really See How the Portfolio Is Actually Performing?
      3. Traditional Reporting Solutions and Their Disadvantages
      4. The Advantages of Objective Indicators
      5. A Basic Example to Introduce the Concept of mEVM
      6. Chapter Summary
      7. Notes
    2. Chapter 9 The Artifacts of mEVM
      1. Introduction
      2. The Main Artifacts of mEVM
      3. Chapter Summary
      4. Note
    3. Chapter 10 Aggregating mEVM Data for the Enterprise
      1. Introduction
      2. The Drivers of Aggregation
      3. The Three Dimensions of Aggregation
      4. The Portfolio View
      5. The Program View
      6. The Multi-year Project View
      7. The Multi-Year Program View
      8. The Multi-year Portfolio View
      9. Consumption of Aggregated Data by Portfolio Governance
      10. Levels of Portfolio Maturity
      11. Chapter Summary
    4. Chapter 11 Measuring Strategic Attainment Using mEVM
      1. Introduction
      2. Tactical Attainment versus Strategic Attainment
      3. The Complicated Business of Measuring Strategic Attainment
      4. How Much of Our Activity Is Strategic?
      5. Benefits of Measuring Strategic Attainment Using mEVM
      6. Factors of Success in Measuring Strategic Attainment
      7. Levels of Maturity
      8. Chapter Summary
    5. Chapter 12 How to Roll Out mEVM to the Enterprise
      1. Introduction
      2. Steps to Rolling Out mEVM Reporting for the Portfolio
      3. Important Considerations to Keep in Mind during the Rollout
      4. Common Evasive Tactics Related to mEVM and Countermeasures
      5. The Enhanced Monitoring List—Also Known as the Kill List
      6. Levels of Portfolio Capability
      7. Chapter Summary
    6. Chapter 13 Why mEVM Works
      1. Introduction
      2. Why Explore Criticisms of EVM?
      3. The Criticisms of EVM
      4. How mEVM Overcomes the Traditional Criticisms of EVM
      5. The Canary in the Coal Mine
      6. Why Does mEVM Work?
      7. Secondary Reasons Why mEVM Works
      8. Chapter Summary
  13. PART III Implementation Strategies for the Real World
    1. Chapter 14 Common Portfolio Problems and Solutions
      1. Introduction
      2. Where Do We Start?
      3. Chapter Summary
    2. Chapter 15 Portfolio Information Systems
      1. Introduction
      2. The Reason Why Most Portfolio Management Tools Fail
      3. What a Successful Portfolio System Looks Like
      4. Portfolio Processes
      5. Process #1: Intake Process and Tool
      6. Process #2: Annual Planning Process
      7. Process #3: Archival and Retrieval of Portfolio Decisions
      8. Chapter Summary
    3. Chapter 16 The Politics of Portfolio Management
      1. Introduction
      2. Why Is Portfolio Management So Political?
      3. The Politics of Avoidance
      4. Politics of Deflection
      5. Playing Politics versus Being Politically Correct
      6. The Expendables
      7. Levels of Portfolio Capability
      8. Chapter Summary
    4. Chapter 17 Portfolio Governance
      1. Introduction
      2. What Is Portfolio Governance?
      3. Two Fundamental Modes of Portfolio Governance
      4. Orchestration of Routine Portfolio Governance
      5. Orchestration of Annual Planning Portfolio Governance
      6. Enabling Governance: Support Systems
      7. Exploring Governance Composition
      8. Success Factors for Governance
      9. Cautionary Note about Governance
      10. Levels of Portfolio Capability
      11. Chapter Summary
      12. Note
  14. PART IV The Support Systems that Decide Success
    1. Chapter 18 Role of the Chief Information Officer
      1. Introduction
      2. A CIO’s Mandate
      3. How the CIO Is the Biggest Beneficiary of the Portfolio Office
      4. How the CIO Is the Biggest Enabler of the Portfolio Office
      5. Levels of Portfolio Capability Maturity
      6. Chapter Summary
    2. Chapter 19 Finance
      1. Introduction
      2. Interface Points between Finance and the Portfolio Office
      3. A Symbiotic Relationship
      4. How Finance Benefits from the Portfolio Office
      5. Levels of Capability Maturity
      6. Chapter Summary
      7. Note
    3. Chapter 20 Portfolio Rollout and Change Management
      1. Introduction
      2. The Wide Spectrum of Portfolio Rollouts
      3. Why Do Portfolio Rollout Efforts Often Fail?
      4. The Politics of Portfolio Change Management
      5. Recommended Best Practices for Portfolio Rollout
      6. What Is a Mind Map?
      7. How to Use the Mind Map
      8. Pointers for Success in Using the Mind Map
      9. Levels of Portfolio Capability Maturity
      10. Chapter Summary
    4. Chapter 21 The Portfolio Office
      1. Introduction
      2. Description of an Ideal Portfolio Manager
      3. Strategies in Staffing the Portfolio Office
      4. Typical Composition of the Portfolio Office
      5. Portfolio Office’s Reporting Structure
      6. Levels of Portfolio Capability Maturity
      7. Chapter Summary
    5. Chapter 22 The Business
      1. Introduction
      2. A Perception Problem
      3. Levels of Maturity
      4. Chapter Summary