By Nader K. Rad, Frank Turley
90 Minutes, Online eCourse
This short 1.5 hour online course introduces the portfolio management concept of MoP in the simplest and fastest possible way. By passing this course, you’ll gain a complete understanding of the concept and you would even be able to apply it in your organization.
What’s Portfolio Management?
If you have multiple projects in your organization, you should definitely learn management of portfolios. It’s not a bigger scale form of project or program management, it’s a totally different concept, focused on maximizing your benefits by choosing/accepting the right projects and programs, and by assigning limited resources to them, in a proper way.
Main focus of project and program management:
Doing Things Right
Main focus of portfolio management:
Doing the Right Things
This course consists of six lessons:
- Introduction (20 minutes) – This lesson reviews the answer to three basic questions: What’s MoP? What’s a portfolio? And what’s portfolio management? The objective is to create a clear understanding of the basic concepts, which would be useful for the rest of the course.
- Roles and Management Products (12 minutes) – We’ll have a quick review of the roles and responsibilities and management products of MoP in this lesson. These topics are not a main subject of this introductory course and therefore we won’t go deep into them; just a quick review.
- Principles (20 minutes) – MoP is based on 5 core principles, and we should always have them in mind and adhere to them. Failure in realization of a single principles will decrease chances of success dramatically. This lesson introduces the portfolio management principles.
- Definition Cycle (15 minutes) – This lesson introduces the cycles concept of MoP, which are sets of actions or areas we practice for managing the portfolio, followed by a detailed explanation on the first cycle: Definition Cycle.
- Delivery Cycle (20 minutes) – This lesson reviews the second and last MoP cycle and its seven practices. This cycle realizes the portfolio plan and ensures that the benefits are realized and organizational strategic objectives are achieved.
- Summary (15 minutes) – We’re actually done with the course now. This lesson reviews the whole content, and also mentions some of the common misunderstandings about portfolio management.
The useful things you can learn from MoP, besides the general descriptions of the portfolio and portfolio management, is Principles, which should be always applied in every portfolio to succeed, and the cycles, which are the actions we take to manage the portfolio. There are two cycles in MoP: the definition cycle, which is used to plan the portfolio, and the delivery cycle, which executes, monitors, and controls the portfolio. Each cycle has a number of practices.
- Senior Management Commitment
- Governance Alignment
- Strategy Alignment
- Portfolio Office
- Energized Change Culture
- Management Control
- Benefits Management
- Financial Management
- Risk Management
- Stakeholder Management
- Organizational Governance
- Resource Management
Which are the main subject of these lessons.
Each lesson has a video, summary, glossary of key terms in that lesson, and a short quiz.