Portfolio Management: A Strategic Approach PDF
Preview Portfolio Management: A Strategic Approach
Business & Management / Project Management W PORTFOLIO YL ZE Recognizing the importance of selecting and pursuing programs, projects, and AV operational work that add sustainable business value that benefits end users, the Project LIN E MANAGEMENT Management Institute (PMI®) issued its first Standard on Portfolio Management K in 2006. In 2014, it launched the Portfolio Management Professional (PfMP®) credential—which several of the experts who contributed to this book earned—to P recognize the advanced expertise required of practitioners in the field. O A STRATEGIC APPROACH Presenting information that is current with The Standard for Portfolio Management, R Third Edition (2013), Portfolio Management: A Strategic Approach supplies in-depth treatment of the five domains and identifies best practices to ensure the T organization has a balanced portfolio management that is critical to success. Following PMI’s standard, the book is organized according to its five domains: F strategic alignment, governance, portfolio performance management, portfolio risk O management, and portfolio communications management. L Each chapter presents the insight of different thought leaders in academia and business. I Contributors from around the world, including the Americas, Europe, the Middle East, O Africa, and Australia, supply a global perspective as to why portfolio management is essential for all types of organizations. They provide guidelines, examples, and M models to consider, along with discussion and analysis of relevant literature in the field. Most chapters reference PMI standards, complement their concepts, and expand A on the concepts and issues that the standards mention in passing or not at all. N Overall, this is a must-have resource for anyone pursuing the PfMP® credential from PMI. For executives and practitioners in the field, it provides the concepts you will A need to address the ever-changing complexities that impact your work. This book is G also suitable as a textbook for universities offering courses on portfolio management. E M Edited by E DR. GINGER LEVIN, PMP, PgMP N JOHN WYZALEK, PfMP K23801 T 6000 Broken Sound Parkway, NW ISBN: 978-1-4822-5104-3 Suite 300, Boca Raton, FL 33487 711 Third Avenue 90000 New York, NY 10017 an informa business 2 Park Square, Milton Park www.crcpress.com Abingdon, Oxon OX14 4RN, UK 9 781482 251043 www.auerbach-publications.com K23801 cvr mech.indd 1 9/4/14 9:02 AM PORTFOLIO MANAGEMENT A STRATEGIC APPROACH Best Practices and Advances in Program Management Series Series Editor Ginger Levin RECENTLY PUBLISHED TITLES Portfolio Management: A Strategic Approach Ginger Levin and John Wyzalek Program Governance Muhammad Ehsan Khan Project Management for Research and Development: Guiding Innovation for Positive R&D Outcomes Lory Mitchell Wingate The Influential Project Manager: Winning Over Team Members and Stakeholders Alfonso Bucero Project Management for Research and Development: Guiding Innovation for Positive R&D Outcomes Lory Mitchell Wingate PfMP® Exam Practice Tests and Study Guide Ginger Levin Program Management Leadership: Creating Successful Team Dynamics Mark C. Bojeun Successful Program Management: Complexity Theory, Communication, and Leadership Wanda Curlee and Robert Lee Gordon From Projects to Programs: A Project Manager’s Journey Samir Penkar Sustainable Program Management Gregory T. Haugan Leading Virtual Project Teams: Adapting Leadership Theories and Communications Techniques to 21st Century Organizations Margaret R. Lee Applying Guiding Principles of Effective Program Delivery Kerry R. Wills PORTFOLIO MANAGEMENT A STRATEGIC APPROACH Edited by DR. GINGER LEVIN, PMP, PgMP JOHN WYZALEK, PfMP CRC Press Taylor & Francis Group 6000 Broken Sound Parkway NW, Suite 300 Boca Raton, FL 33487-2742 © 2015 by Taylor & Francis Group, LLC CRC Press is an imprint of Taylor & Francis Group, an Informa business No claim to original U.S. Government works Version Date: 20140829 International Standard Book Number-13: 978-1-4822-5105-0 (eBook - PDF) This book contains information obtained from authentic and highly regarded sources. Reasonable efforts have been made to publish reliable data and information, but the author and publisher cannot assume responsibility for the valid- ity of all materials or the consequences of their use. The authors and publishers have attempted to trace the copyright holders of all material reproduced in this publication and apologize to copyright holders if permission to publish in this form has not been obtained. If any copyright material has not been acknowledged please write and let us know so we may rectify in any future reprint. Except as permitted under U.S. Copyright Law, no part of this book may be reprinted, reproduced, transmitted, or uti- lized in any form by any electronic, mechanical, or other means, now known or hereafter invented, including photocopy- ing, microfilming, and recording, or in any information storage or retrieval system, without written permission from the publishers. For permission to photocopy or use material electronically from this work, please access www.copyright.com (http:// www.copyright.com/) or contact the Copyright Clearance Center, Inc. (CCC), 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400. CCC is a not-for-profit organization that provides licenses and registration for a variety of users. For organizations that have been granted a photocopy license by the CCC, a separate system of payment has been arranged. Trademark Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. Visit the Taylor & Francis Web site at http://www.taylorandfrancis.com and the CRC Press Web site at http://www.crcpress.com To the eighteen experts who diligently shared their knowledge in the chapters they contributed to this book; to Rich O’Hanley and John Wyzalek, who approved my proposal for this book; to John Wyzalek, who in addition to writing a chapter in this book then supported me as a co-editor; and to my husband, Morris Levin, for his continued support and love. Ginger Levin, Lighthouse Point, Florida Contents Preface ix editor Bios xiii contriButor Bios xv acknowledgments xxvii chaPter 1 organizational agility through Project Portfolio management 1 CATHERINE P. KILLEN, PhD chaPter 2 Portfolio selection and termination 15 WERNER G. MEYER, PhD chaPter 3 corPorate strategy—converting thoughts and concePts into action 35 DAVID V. TENNANT, PE, PMP, MBA chaPter 4 estaBlishing a governance model for strategic Portfolio management 47 J. LeROY WARD, PMP, PgMP, CSM, PfMP chaPter 5 it governance as an innovation tool 63 DR. SUBBU MURTHY chaPter 6 governance and Portfolio management 77 LAURENCE LECOUVRE, PhD chaPter 7 Project Portfolio governance 87 JENNIFER BAKER, PfMP MSPM, PgMP, PMP, ITIL, MBB, PfMP chaPter 8 Business intelligence framework for Project Portfolios (BiPPf) 109 MUHAMMAD EHSAN KHAN, PhD, PgMP, PMP vii viii Contents chaPter 9 Portfolio management success 123 CARL MARNEWICK PhD chaPter 10 Building the Bridge Between organizational strategy and Portfolio management: alignment and Prioritization 149 MANUEL VARA, PMP, SCPM chaPter 11 the accuracy of Portfolio risk estimation 165 DAVID A. MAYNARD, BSEE, MBA, PMP chaPter 12 marketing the Project Portfolio 175 RODNEY TURNER, PhD and LAURENCE LECOEUVRE, PhD chaPter 13 strategic Portfolio management through effective communications 193 AMAURY AUBRÉE-DAUCHEZ, PMP, PgMP chaPter 14 Project Portfolio management and communication 209 WANDA CURLEE, DM, PMP, PgMP, PMI-RMP, PfMP chaPter 15 addressing Portfolio information issues through the use of Business social networks, stars, and gatekeePers 219 ROBERT JOSLIN PhDc, PMP, PgMP, CENG chaPter 16 when stakeholders, goals, and strategy conflict 261 JOHN WYZALEK, PfMP chaPter 17 Portfolio alignment: a strategic aPProach through the Predicative value of outliers’ data 267 ING. KARI DAKAKNI, MReg, CENG chaPter 18 delivering organizational value in the zone of uncertainty 303 DR. LYNDA BOURNE, DPM, FACS, FAIM
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