project portfolio management by/ mohamed abdul latif ahmed, pmp, m.sc. december 2009 “managing the...
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Project Portfolio Management
By/Mohamed Abdul Latif Ahmed, PMP, M.Sc.
December 2009
“Managing the right projects is as important as
Managing the projects right ”
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Presentation Outlines
• What is Project Portfolio Management• Project Management Vs. Portfolio Management• Portfolio Management Processes, competencies and
Methods• Portfolio Risk Management• Portfolio Level Reporting
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What is Portfolio Management?
A portfolio is a collection of projects or programs and other work that are grouped together to facilitate effective management of that work tomeet strategic business objectives.
The projects or programs in the
portfolio may not necessarily
be interdependent or
directly related.
Portfolio
Programs
Projects
Projects
PMBoK® Guide, 4th Edition, © PMI3
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The Project Pipeline(Without Portfolio Management)
IDEAS
PROJECT PIPELINE
PROJECT FAILURES
COMPLETEDPROJECTS
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IDEAS
PROJECT PIPELINE
PROJECT FAILURES
COMPLETEDPROJECTS
Portfolio ManagementEx: using a PMO
BUSINESS CASE FILTERBENEFITS FILTERVALUE FILTER
The Project Pipeline(With Portfolio Management)
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Positioning Portfolio Management
Vision
Mission
Organizational Strategy& Objectives
High LevelOperations Management
Management ofOn-Going Operations
(recurring activities)(producing value)
Management ofAuthorized Programs & Projects
(projectized activities)(increasing value production capability)
Project Project PortfolioPortfolio
ManagementManagement
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Why link portfolios to strategies?
1. Maintaining portfolio alignment to organization’s strategic goals
2. Allocating financial resources according to its priorities
3. Allocating human resources according to its priorities
4. Measuring project contributions to strategic goals
5. Strategic risk management showing how projects risks will affect strategic goals
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Relation btw. Project Management & Portfolio Management
PortfolioLevel
Project / Program
Level
• Strategies & Priorities
• Progressive Elaboration
• Portfolio Level Changes
• Governance
• Performance Reports
• Change Requests with impact on other components
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Project Management Vs. Portfolio Management
TacticalTacticalStrategic
Tactical
Practice Standard for Portfolio Management , 2nd Edition, © PMI 9
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Project Management Vs. Portfolio Management
Scope
Projects Portfolios
Defined Objectives, Scope progressively
elaborated
Business scope changing with changing strategic goals
Strategic
Tactical
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Project Management Vs. Portfolio Management
Change
Projects Portfolios
Changes expected, PM try to keep
change controlled
Continually monitor changes in the broad environment
Strategic
Tactical
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Project Management Vs. Portfolio Management
Planning
Projects Portfolio
Project plans are created with more details as the project progresses
Create and maintain processes and communication plans relative to the aggregated portfolio
Strategic
Tactical
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Project Management Vs. Portfolio Management
Monitoring
Projects Portfolio
Monitor and control the work of producing the products and services that the project was undertakento produce
Monitor aggregate performance and value indicators
Strategic
Tactical
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Project Management Vs. Portfolio Management
Success
Projects Portfolio
Success is measured by achieving quality, schedule, budget constraints and a degree of customersatisfaction
Success is measured in terms of achieving strategic objectives
Strategic
Tactical
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Portfolio Management Processes
Knowledge Area
AligningProcess Group
Monitoring & Controlling Process
Group
Portfolio Governance
1.Identify Components
2.Categorize Components
3.Evaluate Components
4.Select Components
5.Prioritize Components
6.Balance Portfolio
7.Authorize Components
1.Review and Report Portfolio Performance
2.Monitor Business Strategy Changes
3.Communicate Portfolio Adjustments
Portfolio Risk Management
1. Identify Portfolio Risks
2. Analyze Portfolio Risks
3. Develop Portfolio Risk Response
1.Monitor and Control Portfolio Risks
Practice Standard for Portfolio Management , 2nd Edition, © PMI 15
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Competencies Required for a Portfolio Manager
• Strategic Alignment• Portfolio Management Methods and Techniques
(more on next slide)• Program and Project Management• Process Development and Continuous Improvement
(TQM, Lean Six Sigma)• General Business Skills (KPIs, Financial Management,
Business cases)• General Management Skills• Stakeholder Management• Risk and Opportunity Management
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Portfolio Management Methods and Techniques (Elaborated)
• Project Selection Methods• Decision Support tools and Models (ROI, IRR, etc)• Prioritization Algorithms• Capability and Capacity Modeling• Project and Program Auditing• Organizational and Portfolio Risk Management
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Sample Tools:Portfolio Scoring Using Multi Criteria
Practice Standard for Portfolio Management , 2nd Edition, © PMI 18
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Sample Tools:Portfolio Balancing Using Indicators
Practice Standard for Portfolio Management , 2nd Edition, © PMI 19
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Portfolio Risk Management
• Portfolio risks are uncertain event (s) that may affect at least one strategic business objectives and may have impact on one or more success criteria of the portfolio
• Successful portfolio management develop a balanced portfolio considering the risk tolerance of the organization, and ensuring that projects and programs manage their risks pro-actively to protect the overall portfolio.
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<Insert Picture Here>
Enterprise Project Portfolio Management (EPPM)
Sherief El AbdPROMASTAR , CAP, AEPPrimavera Professional Services Consultant
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Oracle Industry PresenceLeadership
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More than 200 upstream companies run Oracle Applications
Top 5 of 5 for Oil Field Service, Drilling and Equipment Providers run Oracle
49 of top 50 Energy companies run Oracle Applications
Leadership in Oil & Gas: All Major Oil Sectors
More than 200 Downstream companies run Oracle Applications
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Enterprise Project Portfolio Management(EPPM)
Value
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Program and Project ManagementProgram and Project ManagementProgram and Project ManagementProgram and Project Management
Resource ManagementResource ManagementResource ManagementResource Management
Portfolio Management & OptimizationPortfolio Management & OptimizationPortfolio Management & OptimizationPortfolio Management & Optimization
Oracle Enterprise Project Portfolio Management
Risk ManagementRisk ManagementRisk ManagementRisk Management
Demand Management
Demand Management
Portfolio Prioritization
Portfolio Prioritization
“What if” Analyses“What if” Analyses
Corporate AlignmentCorporate Alignment
Project Scheduling
Project Scheduling
Earned Value
Management
Earned Value
Management
Project Costing &
Billing
Project Costing &
Billing
Contract Management
Contract Management
ModelingModeling Risk Reporting
Risk ReportingRisk AnalysisRisk Analysis
Resource Supply & Demand
Resource Supply & Demand
Contractor ManagementContractor
ManagementCapacity PlanningCapacity Planning
Services Billing
Services Billing
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Level 1 Users
Job Site Resources
Level 2 Users
Project Participants
Stakeholders
Level 3 Users
Executives
Project
Managers
Resource
Managers
Resource Managers
Program Managers
Level 4 Users
Administrators
PMOPlanners & Schedulers
Project Managers
P6 Different User Levels:The right tools for the
right roles
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Oracle Application Integration Architecture AIA Process Integration PacksAccelerates Time to Value
ConfigurableExtensible
One to Many Framework
Pre-defined Integration Flows and Artifacts
55 Core DifferentiatorsCore Differentiators
Faster Implementations Reduced Risk Lower Integration Costs
Order toCash
Design toRelease
Order toBill
Cust.MDM
Prod.MDM Others…Oracle to
SAP
AIA AIA Process Integration PacksProcess Integration PacksPre-built Composite Application Processes
Fully Supported by
Oracle
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Integrating with Existing Business Systems•From enterprise resource planning (ERP) systems to financial systems to desktop productivity tools such as Microsoft Outlook and Microsoft Excel.
•Primavera Web Services enables a complete, enterprise wide integration strategy that will help you reach your business objectives.
Technical Overview of Primavera Integration PathsP6 Web Services Approach
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Technical Overview of Primavera Integration PathsERD Approach
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•A sample view of the Primavera Inspire for SAP-facilitated bidirectional data flow between Primavera and SAP solutions. When data is entered into either system, the other system is updated.
•The graphic assumes both SAP Plant Maintenance and Project System solutions are integrated with Primavera solutions.
Technical Overview of Primavera Integration PathsInspire Approach
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Oracle Enterprise Project Portfolio ManagementA Visible Difference
Before
• Point systems for ERP, Project Mgmt, HCM
• Squandered resources
• Lack of cost transparency
• Inconsistent delivery and project quality
• Slow reaction time
• No accountability
After
• Accurate and enterprise-wide visibility
• Locate and capitalize on talent
• Financial governance and compliance
• Real-time program and project management
• Full life-cycle, risk analytics
• Single source of record
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BusinessDevelopment
Project Execution
Business Management
Plan, Design, and Procure
Project Close-Out
1
3
4
2
5
Operate & Maintain6
Project Leads
Design Approval Change Order
Work Order
Budget &Forecast
Forecast& Actuals
Oracle for the Oil & Gas Lifecycle
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Questions?Questions?