Portfolio managers define key performance indicators and the strategy for their portfolio. How to transform projects through portfolio management 3 since the establishment of the project management institutes body of knowledge pmbok and the projects in controlled environments. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Request pdf strategic leadership of portfolio and project management as an executive your organization may have limited bench strength.
Laning strategic leadership of portfolio and project management. Download it once and read it on your kindle device, pc, phones or tablets. Lead change through strategic alignment of project and process performance. Pdf as project management is becoming more strategic and business oriented, new and. Strategic planning and project management shouldnt exist in separate worlds, but often do.
A lot of articles and books have been written on portfolio management mechanics how to, but very little time has been spent on strategic leadership in relation to portfolio management. Much of your organizations work is probably dependent on information technology and understanding and using information technology as a strategic weapon, and with this book, youll learn how your organization can become. Projects are prioritized based on their quantitative and. The master of science in program and portfolio project management is intended to prepare project professionals for the more advancedlevel roles in the organization. Quality leadership tql coordinators, and strategic planning facilitators in leading the strategic management process. And the minute that strategy is brought into the mix, you will find different approaches from different schools. Project portfolio management is the centralized management of all components of a project, from processes and methods to technologies. During the past 20 years companies have greatly improved processes and systems for managing the operational aspects of projectportfolio.
Project manager leadership role in improving project performance vittal s. This presentation focuses on how project portfolio management is a critical piece for tying leadership, strategic iq, and organizational health together. The correct term to use is project portfolio, so as not to confuse it with financial investment portfolios. Project portfolio management in theory and practice thirty case studies from around the world jamal moustafaev, mba, pmp click here to order project portfolio management in theory and practice. Describe four characteristics of consequential decisions. This paper suggests a formal framework for managing projects in a strategic way, and specifically defines the concept of project strategy. Projects drive real change for organizations and are key to executing strategic plans, making the art of strategic project management an important to skill to master. Project portfolio management in a company strategy.
Practical and filled with expert advice, strategic project portfolio management. Strategic leadership of portfolio and project management new book by kloppenborg and laning available from business expert press in usa 19 february 20 business expert press bep in the united states has published a new book by timothy j. The capstone is a strategic leadership and management plan where youll apply what you will learn to an actual business situation with participation by one or more focal companies. May 18, 2016 the opportunity for strategic leadership is lost. This book will instruct you and your leadership teams on implementing strategy through identifying, selecting, prioritizing, resourcing, and governing an optimal work portfolio.
Pmi thought leadership series delivering on strategy. The project management institute pmi published the standard for portfolio management in 2006 which defines ppm as a collection of projects temporary endeavours undertaken to create a unique. Strategic direction from the executive leadership led to a 30% reappropriation of project resources. You provide your email, and they send over a nice pdf guide with a. Strategic leadership of portfolio and project management. It is a way to bridge the gap between strategy and implementation, and. Detailed advice is given for project management competency on utilizing input from customers, employees, and processes. Providing executive level education to support project effectively management methods. Introduction to strategic leadership 3 in strategic leadership, we will help you develop that bigpicture understanding of how to guide your actions. Deloitte refers to one or more of deloitte touche tohmatsu limited, a uk private company limited by guarantee dttl, its network of member firms, and their related entities. In this article well cover what a strategic plan is, why you need one, and the topics you need to cover in your strategic plan.
Project management software solutions assist with project related data collection, processing and reporting as per the organizations need. As the global advocate for project, program, and portfolio management, pmi delivers an annual thought leadership series on practices that help organizations. The definition of strategic leadership denotes the leaders ability to anticipate, envision, and maintain flexibility and to empower. The line between project management and project portfolio management is often blurred because people attempt to accomplish all of the tasks we discussed under the heading of project management. Enabling a productive organization microsoft executive leadership series book 16 kindle edition by moore, simon. When youre disconnected from strategy, the daily grind is tough. Project portfolio management ppm is a toolsupported process for optimally selecting and managing the. We analyse roletaking of ppmos and these roles impact on portfolio performance. Anantatmula, western carolina university role in project success is not addressed in project management literature.
As my definition implies, it is my view that strategy and tac. Project portfolio management is managing several projects and coordinate them to achieve specific organizational objectives. Jan 27, 2012 this is an excerpt of a paper i wrote while working on my mba. Strategic project management bridges the gap between the lofty ambitions of strategists and staff that do the work. Strategy without projects is just another document collecting dust. Development of strategic project management management essay. Strategic project management consists of selecting, managing and measuring project outcomes to ensure optimal value for an organization. Project portfolio management ppm is the management of all projects in an organization from a highlevel perspective. In the past project management was considered tactical to facilitate the running of individual projects such as constration of new plant, installation of new softwarehardware but it did not enavble. Depending on the context and industry, it can be a collection of assets, products, investments, or other items. It is a way to bridge the gap between strategy and implementation, and ensures that an organization can leverage its project selection and execution success.
Ppm can provide real value, but many organizations are finding implementing ppm difficult. The main conclusion discovered that the strategic relationship of project, program and project portfolio management depends on the organizational context where it is applied. A complete overview of project portfolio management. Portfolios can be managed at an organisational or functional level. Strategic project management makes strategy leadership everyones job, not just the csuite. Transformative leadership sets a financial services enterprise pmo on the fast track to.
The story illustrates how you can overcome obstacles project management maturity, disjointed processes, managing expectations and get results by utilizing streamlined processes. This part of portfolio strategic management involves the collection of data from both new and existing projects to guide decision making. In a dynamic environment, however, project data has to be refreshed frequently, requiring. Get up to speed on project portfolio management ppm discover the objectives of ppm. Project manager leadership role in improving project. Examples show typical tasks of the portfolio managers, the. During the past 20 years companies have greatly improved processes and systems for managing the operational aspects of projectportfolio management ppm budgeting, project management, resource planning, and phase gate processes. Organizations with mature project portfolio management practices complete 35 percent more of their programs successfully. Whether you are seeking a job in project management, supply chain management, or other areas of business management, youll graduate with the skills and knowledge ready to lead. Some slides used in this video may not be entirely legible on screen so it is best to download the pdf file and follow along.
Strategic leadership of portfolio and project management book. Great strategic project leadership focuses on aligning project and portfolio management with strategy. Strategic leadership of portfolio and project management supply and operations management collection paperback november 1, 2012. It combines the strategic, businessrelated aspects of projects, the need to adapt a project to its unique level of innovation and context, the leadership perspective of inspiring and motivating the team.
Programme and project manag level in the organisation what is a strategic portfolio. Strategic project leadership1 spl is a comprehensive, researchbased approach to project management. Identify the four components of the strategic leadership environment, and list factors that belong to each component. Management square is a service provider company specialized in strategy execution, business transformation, portfolio, program and project management. Project portfolio management ppm is a toolsupported process for optimally selecting and managing the organizations portfolio of projects. Delivering on strategy project management institute. Portfolio management has been around for several decades. Organizational project management opm is a strategy execution framework that utilizes portfolio, program, and project management as well as organizationalenabling practices to consistently deliver organizational strategy to produce better performance and better results. Youll learn how to sponsor every project stage, as well as leading project managers as direct reports. Oct 24, 2012 given at the 2012 boeing project management conference in mulkiteo, washington. Highlights project portfolio management offices ppmos are strategic project management offices.
A portfolio is simply a generic term used for a grouping of things. Portfolio management is the selection, prioritisation and control of an organisations projects and programmes in line with its strategic objectives and capacity to deliver. Strategic leadership of portfolio and project management request. Strategic project management basics strategy management.
Program and portfolio project management, ms of program management at dhl americas, is a veteran of the typical project and portfolio planning or lack of planning. Successful organisations make strategic choices about which activities should be implemented to deliver their decisions at this level can significantly impact the. Management square is a service provider company specialized in. Strategic leadership southwestern college professional. Relationships between portfolio, program, and project management in order to understand portfolio, program, and project management, it is important to recognize the similarities and differences among these disciplines. Project portfolio management ppm is the centralized management of the processes, methods. How project portfolio management ties leadership, strategic. Developing the capability to strategically manage projects and programs effectively, enables organisations to improve the way they manage the doing of their projects and as a consequence increase the success rate, resulting in increased value for their stakeholders. Select your project and program portfolio based on. Managing the portfolio of projects based on real strategic outcomesand, specifically, value creation for the organization. Strategic leaders know that the real power in information comes not from hoarding it, but from using it to find and create new opportunities for growth. Worse still, people are implicitly told that there is more value in expediency than in leading the enterprise to a higher level of performance.
The role of project portfolio management and the cultivation and management of organizational competencies, capabilities and project leadership resourcebased view are also examined. The power of project portfolio management november 2015 2 2015 project management institute, inc. Many companies use a project management office to handle all activities related to. This book will instruct you and your leadership teams on implementing strategy through identifying, selecting, prioritizing, resourcing, and governing an optimal selection from strategic leadership of portfolio and project management book. Strategic project portfolio management wiley online books. Beginners guide to project portfolio managementcritical steps. The distinction between strategic thinking, strategic management and strategic planning 45 strategy in actionquick strategic thinking in unfavourable circumstances45 strategy in actionsony the disruptive innovator 50 principles for the successful use of strategy 61 finding the right strategic mix of entrepreneurial creativity and. Projects drive real change for organizations and are key to executing strategic plans, making the art of strategic. May 07, 2018 how will we define scope, objectives, and results of a project. And while we equate it with strategic decision making and prioritization, that isnt where it started, and it isnt its greatest source of value. The deliverable will be designed to create value from the perspective of potential employers while achieving pedagogical and experiential goals for learners. Leadership has been described as the most studied and least understood behavioral process. Role of project manager in strategic planning and portfolio.
Authors faculty customers author blogs author portal news. This book will instruct you and your leadership teams on implementing strategy through identifying, selecting, prioritizing, resourcing, and. Using a handbook for strategic planning, the senior leadership team can complete most of the. Strategic leadership refers to a managers potential to express a strategic vision for the organization, or a part of the organization, and to motivate and persuade others to acquire that vision. Connecting business strategy and project management developed in collaboration with the boston consulting group bcg. For companies that work on a large number of projects, it makes sense to clearly delineate between ppm and project management.
Portfolio, program, and project management are aligned with or driven by organizational strategies. Connecting business strategy and project management. As an executive, your organization may have limited resources. Project portfolio management refers to the centralized management of one or more project portfolios to achieve strategic objectives.
Project portfolio management in theory and practice. To read the entire article, download the pdf titled strategic project management. Using a handbook for strategic planning, the senior leadership team can. Projects deemed not to be strategically aligned were cancelled. The three roles of a project portfolio management office. Strategic project leadership1 spl is a comprehensive, researchbased.
All relevant projects are considered, with data collection done based on the data required to start an evaluation. How to transform projects through portfolio management 3 since the establishment of the project management institutes body of knowledge pmbok and the projects in controlled environments prince2 standards, organizations have made significant investments in project management. Beginners guide to project portfolio managementcritical. Projects without strategic importance quickly lose their appeal. The online bachelors degree program in strategic leadership is your ticket to a career with versatility. In a traditional project management world that has always.
A holistic picture when what organizations do is not unique, how they do it becomes their competitive advantage. This tenweek online project portfolio management certification course consists of six modules where you will learn how to meet the companys overall strategic imperatives through stewardship of the portfolio of projects. The answers to each of these questions fill in your project management strategy. Transformative leadership sets a financial services enterprise pmo on the fast track to strategic value establish foundational capabilities in project and portfolio management launch an enterprise pmo to link strategy. The goal is to balance change initiatives and businessasusual while optimising return on investment. Relationships between portfolio, program, and project management in order to understand portfolio, program, and project management, it is important to recognize the similarities and. Apr 24, 2014 the story illustrates how you can overcome obstacles project management maturity, disjointed processes, managing expectations and get results by utilizing streamlined processes, improved project delivery, a single version of truth, simple but effective portfolio planning to meet strategic objectives using scarce resourcesand continued.