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  • Portfolio Management & Portfolio Management (PfMP) Certification

    Presented by: Vish Tripathi, PfMP, PMI-ACP, PMP

    Senior Consultant / Manager

    Daugherty Business Solutions

    President Metro St. Louis PMI Chapter

    February 17, 2016

  • Agenda

    Project, Program and Portfolio Management (P3M) Basics

    Overview of Portfolio Management

    Portfolio Management Professional (PfMP) Certification

    Eligibility Requirements

    Fees

    Examination

    Study Material / Resources

    A

  • Project, Program and Portfolio Management Basics

  • Project / Program / Portfolio Source: The Standard for Portfolio Management (Third Edition)

    Project

    A temporary endeavor undertaken to create a unique product, service or result.

    Program A group of related

    projects, subprograms and program activities that are managed in a way to obtain benefits not available from managing them individually.

    Portfolio

    Projects, programs, sub-portfolios and operations managed as a group to achieve strategic objectives.

    How Tactical

    What Strategy

    Doing things right Doing right things

    A

  • Project Vs. Operations

    Project

    Temporary

    Project Management

    Produces the Unique Product / Output

    Operations

    On-Going

    Business Process / Operational Management

    Produces the Same Product Repetitively

    A

  • Organizational Project Management

    Strategy execution

    framework utilizing P3M

    as well as organizational-

    enabling practices

    To consistently & predictably deliver org.

    strategy

    Producing better

    performance, better results,

    and a competitive advantage.

  • Organizational Enablers

    Structural Cultural Technological Human

    Resources

  • How does Portfolio Management differ from Project Management

    & Program Management?

  • Source: http://pmfiles.com/2011/570/

    Breakdown of P3M

    http://www.pmfiles.com/wp-content/uploads/2011/03/portfolio.jpg

  • Contributions to Organizational Goals Develops and implements plans to achieve a specific scope. It is largely concerned with achieving specific deliverables that support specific organizational objectives.

    Harmonizes its projects and programs, and managing their interdependencies. Its focuses on achieving the cost, schedule and performance objectives of the projects within the program or portfolio.

    Aligns by selecting the right programs or projects, prioritizing the work, and providing the needed resources. It balances conflicting demands between programs and projects, allocates resources based on org. priorities and capacity, and manages so as to achieve the benefits identified.

    Project Management

    Program Management

    Portfolio Management

    All three are aligned and driven by organizational strategies. However, each one contributes differently to the

    achievement of strategic goals.

    A

  • Relationship Venn http://blogs.pmbestpractices.com/2009/11/the-p3mo-part-2/

    Portfolio to realize strategic goals / objectives

    Program to realize specific benefit

    Project to realize a specific objective or goal

  • Portfolio Management Overview

  • Portfolio Components

    are collection of programs,

    projects, or operations

    managed as a group to achieve

    strategic objectives.

    may not necessarily be

    interdependent or have related

    objectives.

    are quantifiable, that is, they can be measured, ranked, and prioritized.

  • Portfolio Management

    A portfolio exists to

    achieve one or more

    organizational strategies and

    objectives.

    An org. may have more than one

    portfolio, each addressing unique org.

    strategies and objectives.

    Proposed initiatives alias

    portfolio components are identified,

    evaluated, selected, and authorized.

  • Domains Source: The Standard for Portfolio Management (Third Edition)

    Five Domains / Knowledge Areas

    Strategic Alignment

    Governance Portfolio

    Performance Risk

    Management Communications

    Management

    A

  • Process Groups Source: The Standard for Portfolio Management (Third Edition)

    Three Process Groups

    Defining Aligning Authorizing and

    Controlling

    A

  • Portfolio Management Processes (16) Source: The Standard for Portfolio Management (Third Edition)

    KNOWLEDGE AREAS

    PROCESS GROUPS

    Defining Aligning Authorizing and

    Controlling

    Portfolio Strategic

    Management

    1. Develop P. Strategic Plan 2. Develop P. Charter 3. Define P. Roadmap

    1. Manage Strategic Change

    Portfolio Governance

    Management

    1. Develop P. Management Plan

    2. Define Portfolio 1. Optimize Portfolio

    1. Authorize Portfolio 2. Provide Portfolio

    Oversight

    Portfolio Performance Management

    1. Develop P. Performance Management Plan

    1. Manage Supply & Demand

    2. Manage Portfolio Value

    Portfolio Communication

    Management

    1. Develop P. Communication Management Plan

    1. Manage Portfolio Information

    Portfolio Risk Management

    1. Develop P. Risk Management Plan

    1. Manage Portfolio Risks

    P. - Portfolio

  • Portfolio Management Professional (PfMP)

    Certification

  • History of PfMP

    Launched pilot in

    4Q13 and the first

    certifications were

    awarded 2Q14.

    As of 12/31/15, currently ~ 286 plus 1

    PfMPs globally.

    PfMP recognizes advanced experience, skills and

    performance necessary to manage and align a

    portfolio of projects and programs to realize

    organizational strategy and objectives.

  • PgMP - to oversee multiple, related projects and their

    resources to achieve strategy business objectives\

    Credential Differentiation

    PfMP - coordinate the management of one or more

    portfolios to achieve organizational strategies and

    objectives\

    PMP - competence in leading and directing

    project teams

  • Eligibility Requirements

  • Certification Process

  • Resources

  • Handbook

    http://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashx

    Exam Content Outline http://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashx

    Exam Guidance http://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspx

    Reference List http://www.pmi.org/~/media/PDF/Certifications/PfMP_Reference_list_v2.ashx

    PfMP FAQs http://www.pmi.org/Certification/~/media/PDF/Certifications/PfMP_FAQs_v3.ashx

    The Standard for PfMP http://marketplace.pmi.org/Pages/ProductDetail.aspx?GMProduct=00101388901

    Resources from PMI

    http://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/handbooks/portfolio-management-professional-handbook-pfmp.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/~/media/PDF/Certifications/exam-outline/portfolio-management-exam-outline.ashxhttp://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspxhttp://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspxhttp://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspxhttp://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspxhttp://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspxhttp://www.pmi.org/certification/portfolio-management-professional-pfmp/pfmp-exam-guidance.aspxhttp://www.p

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