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Management of Portfolios Foundation (MoP™)

Length: 3 Days    Cost: $1,895 + GST    Version: Project Management

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About this Course

Portfolio management is defined as a coordinated collection of strategic processes and decisions that together enable the most effective balance of organisational change and business as usual.

Management of Portfolios (MoP) approaches the management of change projects and programmes from a strategic viewpoint. It provides an overview of all change activities, including what is in the portfolio, what it is costing, what organisational and implementation risks are faced, what progress is being made, and most importantly what the impact on business as usual and organisational strategic objectives is.

MoP builds on and co-ordinates existing processes such as strategic planning, investment appraisal and programme and project management to be effective and add value.

Portfolio management addresses the fundamental questions:

  • Are we doing the right things?
  • Are we doing these things right?
  • Most significantly, are we realising all the benefits in terms of more effective services and efficiency savings from the changes we are implementing?



Audience


  • Portfolio Managers
  • Programme Managers
  • Project Managers
  • Senior Executives
  • Portfolio, Programme and Project Management Support Office Staff

Prerequisites

This course has no prerequisites, however the following would be an advantage:

  • Previous or current experience of working within project, programme and portfolio environment
  • Previous training and development in programme or project management
  • Currently practising as a programme or project manager
  • Previous experience working in senior management, leadership or executive role

At Course Completion

Successful completion of this course will enable participants to:

  • Understand: Portfolio Definition must start with the Understand practice – it is essential to get a clear and transparent view of what is in the current portfolio and the project development pipeline as well as performance to date and, looking forward, the forecast costs, benefits and risks to delivery and benefits realisation. MoP sets out the keys to success and explains how to go about each one.
  • Categorise: once the Understand practice is complete the change initiatives (project and programmes) can be categorised so that senior decision makers can make decisions in areas like priority of resources and strategic alignment. MoP gives several examples drawn from real life experience from different industries.
  • Prioritise: this orders the projects and programmes – often along financial lines – and MoP gives examples of metrics that can be used such as NPV, IRR and Payback. “Money isn’t everything” however so MoP also describes multi-criteria analysis used by some organisations using factors such as “return on attractiveness” and the “risk or achievability” of each change initiative.
  • Balance: Prioritisation results in a ranked list of change but the purpose of the balance practice is to make sure that the resulting portfolio is balanced in terms of time, coverage of strategic objectives, impact across the business, risk : return and available resources. MoP provides an example of how Aston Martin, the luxury car manufacturer, balanced its IT portfolio.
  • Plan: The final practice of the Definition cycle collates information to create a portfolio strategy and delivery plan which will be approved by the portfolio direction groups investment committee. Planning serves to provide the “clear line of sight” about what initiatives are included, their schedule and timing, resource requirements, risks and benefits to be realised. MoP has a full appendix devoted to an outline of the contents of the portfolio strategy and delivery plan.

Foundation Exam

  • 40 minute 50 question Multiple Choice Question Exam held on day 3
  • Requires 50% pass to attain Management of Portfolio (MoP) Foundation Certification

Course Outline


  • Management Control – this practice is about making sure that progress is on track against the portfolio strategy and delivery plan (typical contents for both are included in the MoP manual). Management control includes the creation of consistent business cases which can demonstrate the strategic contribution of change initiatives.
  • Benefits Management – is about identifying and managing the benefits being realised from the portfolio. This includes areas such as benefits categorisation (common approaches are suggested), a portfolio level benefits realisation plan and the arrangements for benefits tracking.
  • Financial Management – includes investment criteria and financial metrics, rules to standardise cost forecasting, efficiency savings and limits for reporting variances.
  • Risk Management – provides a consistent approach across the portfolio including dependencies. MoP sets out some of the key challenges to dependency management and suggests sample solutions which can be used by the portfolio executives.
  • Stakeholder Engagement – this practice provides a co-ordinated approach to stakeholder engagement and communication so that the needs of the portfolio’s customers are identified and managed and stakeholder support for the portfolio is gained by effective consultation and involvement in the definition and delivery of the portfolio. Modern approaches are encouraged – even Twitter gets a mention!
  • Organisational Governance – this must include a vision about what the portfolio is designed to achieve, role profiles (in the MoP manual), stage gates and escalation paths with tolerance limits along with regular reviews of the business case and progress. The portfolio office has a key role to play here.
  • Resource Management – at some level the amount of resource available to deliver change is restricted. Most organisations have more ambitions than people so the supply and demand has to be balanced and where there are gaps these must be filled by recruitment, external resource or staff development.

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