This is a unique and holistic exploration of project portfolio management - from strategic planning to final evaluation. This unique text provides a universal view of project portfolio management (PPM) that includes people, process, tools, and techniques that work synergistically within the organization to produce portfolio decisions with the best chance of success. It illustrates the entire PPM process from strategic planning through portfolio evaluation and adjustment, including prioritizing objectives, identifying and evaluating candidate projects, selecting optimal portfolios using portfolio analysis, establishing project and portfolio performance metrics, measuring portfolio performance, and project portfolio governance. Rather than just an abstract discussion, this book simulates real-world portfolio management through sample scenarios demonstrating advanced decision-making techniques and the use of decision-making software.
Michael J. Bible is a project and program management professional with 25 years of professional and leadership experience supporting the U.S. Department of Defense.
Chapter 1: Introduction to Project Portfolio Management1.1 Acceptance of Project Management1.2 Overview of Project Portfolio Management 1.3 Project Portfolio Management Model Overview1.4 Iterative Nature of the PPM Process1.5 Governance of the PPM Process1.6 Organizational PPM Roles and Responsibilities1.7 Executive (Strategic) Review Board1.8 Portfolio Management Board1.9 Portfolio Process Group1.10 Portfolio Managers and Portfolio Management Team1.11 Considerations for Implementing PPM1.12 SummaryChapter 2: Establishing the Foundation through Strategic Planning2.1 Overview of Strategic Planning: Role of Strategic Planning in the PPM Process, Organizational Mission and Values2.2 American Business University (ABU) Background & Strategic Plan2.3 SummaryChapter 3: Introduction to Ratio-Scale Measurements and AHP3.1 Decision Making with B.O.G.S.A.T. 3.2 The Importance of Hierarchies in Complex Problems3.3 Comparison of Different Ways to Use Numbers3.4 Compensatory and Non-Compensatory Decision Making3.5 Analytic Hierarchy Process (AHP) 3.6 Pair-Wise Comparison3.7 Overview of AHP in Project Portfolio Management3.8 Introduction to Expert Choice Software Tools3.9 SummaryChapter 4: Prioritizing the Objectives Hierarchy Using AHP4.1 PPM Role in Prioritizing Objectives4.2 Prioritizing Objectives4.3 Structuring the Objectives Hierarchy4.4 Measuring by Conducting the Evaluation4.5 Synthesizing to Derive Priorities for the Objectives4.6 Iterating as Necessary4.7 Present Results and Maintain Governance of the Process4.8 ABU Campus Revitalization Program Example4.9 Prioritized Objectives - A Major Step4.10 Summary4.11 Appendix 4A - Using Expert Choice Desktop to Create the Model4.12 Appendix 4B - Synthesizing in Expert Choice DesktopChapter 5: Building the Pool of Potential Projects5.1 Pre-Screening Process5.2 Determining Feasibility5.3 Other Considerations for Pre-Screening5.4 ABU Campus Revitalization Program Pre-Screening5.5 SummaryChapter 6: Determining Candidate Projects and Making the Case6.1 Screening Process6.2 Business Cases6.3 Existing Projects6.4 Establishing Project Categories or Classifications6.5 Defining Screening Models for Project Categories6.6 Potential Screening Model Criteria6.7 Developing the List of Candidate Projects for ABU6.8 ABU Candidate Projects6.9 Alternative Approaches to a Specific Project6.10 Aligning Projects to Objectives -- the Alignment Matrix6.11 Summary6.12 Appendix 6A - Sample High Level Business Cases6.13 Appendix 6B -- Choice Model Alternatives for Student Services Center6.14 Appendix 6C - AACE Estimate ClassificationsChapter 7: Prioritizing Candidate Projects7.1 PPM Role in Prioritizing Alternatives7.2 Prioritizing Candidate Projects Overview7.3 Structure the Model7.4 Measuring by Conducting the Evaluation7.5 Synthesize to Derive Priorities for the Alternatives7.6 Iterate as Necessary7.7 Present Results and Maintain Governance of the Process7.8 ABU Campus Revitalization Program Example7.9 Prioritized Projects - A Major Step7.10 SummaryChapter 8: Considerations for Selecting the Initial Portfolio8.1 Funding Levels8.2 Selecting the Initial Project Portfolio8.3 Efficient Frontier8.4 Constraint for the Initial Portfolio -- Groups8.5 ABU Initial Portfolio Selection Example8.6 SummaryChapter 9: Additional Considerations for Selecting the Project Portfolio9.1 Organizational Power and Political Environment9.2 Balance and Coverage of Projects across Objectives9.3 Resource Limitations9.4 Other Types of Constraints9.5 Accounting for Project Risk in Portfolio Selection9.6 Optimal Portfolio with Dependencies, Balance, Coverage, and Risk9.7 Alternate Scenarios9.8 ABU Optimal Project Portfolio Example9.9 SummaryChapter 10: Implementing and Governing the Project Portfolio10.1 Portfolio Performance Reporting Structure10.2 PPM Governance during Implementation10.3 Evolving PPM Roles and Responsibilities10.4 Types of Portfolio Performance Monitoring and Control10.5 Foundation for Monitoring and Controlling the Portfolio10.6 Iterative Nature of PPM10.7 Responding to Strategic Change10.8 SummaryChapter 11: Implementing and Evaluating Project and Portfolio Performance11.1 Project Performance Indicators11.2 Earned Value Management (EVM) - Measuring Cost and Schedule Performance11.3 Quality Performance Index (QPI) - Measuring Conformance to Specifications11.4 Measuring Project Performance11.5 Measuring Portfolio Performance11.6 Project Portfolio Performance Dashboard and Project Portfolio Dashboard Advantages11.7 Evaluating Performance and Determining Portfolio Corrective Action11.8 SummaryIndex
"Using their real-world experience, Bible and Bivins address many challenges not found in most PPM books, and offer scientifically based research to support their solutions. This is a book worth owning." - Anthony Whitfield, Project Portfolio Manager, CMS Energy; "The process and tools presented in this book can be used to make better organizational decisions, reduce the influence of politics, and allow portfolios to be aligned to what is most important to the company and its customers." - George Tome, MSPM, SCPM, PMP, Manager, Global Technology Innovation Network: Program/Project Management, Large Global Heavy Equipment Manufacturer; "This book covers both the 'what' and the 'how' of selecting and managing project portfolios to best achieve strategic objectives." - Jim Carras, Executive Director, Enterprise Management Association - International
