End State: Maturing to an Enterprise-Level Project Management Model
Projects present the enterprise with a very dynamic and fluid challenge. The current impact of projects is both operational and tactical. This is clearly evident in the program and portfolio management processes. All indications are that an enterprise-level view of projects incorporates projects into the strategy level as well and should be considered in order to complete your journey through projects and the project management processes. That is the purpose of Part V.
Chapter 17, “Establishing a Project Portfolio Management Process,” develops the project portfolio management process as the infrastructure that will help you define the management environment that supports an enterprise-level management process introduced in Chapter 18, “A Practical Project-Based Model of an Enterprise.” This model is called the Enterprise-level Project Portfolio Model (EPPM). It is new. It is based on the same processes and practices that have been developed to support Effective Project Management in all of its previous editions.
A Project Portfolio Management Process (PPMP) is put in place by senior management to ensure the best investment of money and people in the projects that are undertaken by the enterprise. Chapter 17 discusses that process in detail. The role and responsibility of the PSO in this process is also discussed.
Chapter 18 discusses the formation and management of a mega-portfolio. You can think of this ...