While project management and program management traditionally focus on how to do the things right, portfolio management answers the question of how to do the right things.
A portfolio is a set of projects or programs and other jobs put together in order to efficiently manage these jobs to achieve strategic objectives in a set time period.
To manage portfolios, you need to measure them: a right set of KPIs for the portfolio level is a necessity.
In R&D, not all projects that originate in research are developed into products and services and finally appear on “the shelf”. Instead, a company needs to explore a variety of new technologies and projects before it can choose the ones that will make it to the market. A technological assumption can be wrong, or a project can die because of both internal and external factors, such as a change in the competitive landscape.
Research portfolio management enables the process of R&D projects selection, helps managers formulate the rules for selection and promotion of the right projects and helps engineers identify unsuccessful projects at early stages, when the costs are lower.
Understanding the portfolio management process will enable you to focus the resources on value projects, which will contribute to the revenue generation. When implemented correctly, a portfolio creation process boosts the innovative potential of your company, while highlighting the core expertise of your business.
|Basic Training||4 hours|
|Advanced Training (Exam + Certification)||2 days|
|Train the Trainer (Exam + Certification)*||2 days|
*requires completion of the Advanced Training
- What is the difference between projects, programs, and portfolios?
- How to manage the creation of a project portfolio?
- How to use the Stage-Gate model?
- How to evaluate projects?
- How to communicate portfolio decisions?