Project Portfolio Management (PPM) - Revision history

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 ===See Also===
 *[[Project Portfolio Rationalization]]
 *[[Stage-Gate]]

@@ Line 1: / Line 1: @@
-'''Project Portfolio Management (PPM)''' is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule, activities to best achieve an organization’s operational and financial goals ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project Portfolio Management [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an organization can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between strategy and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its business value and adherence to business strategy. The portfolio should be designed to achieve a defined business objective or benefit. Project management authority Bob Buttrick summarized it when he said, "Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>
+'''Project Portfolio Management (PPM)''' is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule, activities to best achieve an organization’s operational and financial goals ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>[https://en.wikipedia.org/wiki/Project_portfolio_management Definition of Project Portfolio Management -Wikipedia]</ref> Portfolio management ensures that an organization can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between strategy and implementation.<ref>[https://www.pmi.org/learning/featured-topics/portfolio Featured Topic - Portfolio Management -pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its business value and adherence to business strategy. The portfolio should be designed to achieve a defined business objective or benefit. Project management authority Bob Buttrick summarized it when he said, "Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>[https://www.projectsmart.co.uk/what-is-project-portfolio-management.php What is Project Portfolio Management -projectsmart.co.uk]</ref>
-'''Project Portfolio Management (PPM) as a Business Process'''<ref>3 Steps to Make Project Portfolio Management a Business Process [http://www.cio.com/article/3030101/leadership-management/3-steps-to-make-project-portfolio-management-a-business-process.html cio.com]</ref><br />
+'''Project Portfolio Management (PPM) as a Business Process'''<ref>[http://www.cio.com/article/3030101/leadership-management/3-steps-to-make-project-portfolio-management-a-business-process.html 3 Steps to Make Project Portfolio Management a Business Process-cio.com]</ref><br />
 Organizations have a hard time to plan and execute the right initiatives, because project portfolio management (PPM) is not deployed as a business process. With an increasing need and desire to innovate and change the ways we are doing things, one would expect that organizations are keen on project portfolio management (PPM). In an ideal state, PPM is managed as a business process, equivalent to the more traditional process like finance, marketing and sales, procurement and human resources management. The following steps to may be taken to deploy PPM a business process:
 *Align leadership: Implementing PPM as a business process is a game changer and requires adequate change leadership. Part of that is executive alignment. A key element of the alignment process is visualization. Senior leaders must be able to envision what the future-state looks and how that improves their business area and the organization as a whole. An introduction to the high level process design, a demonstration of the PPM application, and a walkthrough of a few use cases, are instruments to get them all on the same page. Once the alignment is there, a change leadership committee should be established, tasked with delivering the PPM solution.
@@ Line 11: / Line 11: @@
-'''Components of a Project Portfolio Management Process'''<ref>Components of a Project Portfolio Management Process [http://www.zeusconsult.com.mx/pm/PPM_P1.pdf Harvey Levine]</ref><br />
+'''Components of a Project Portfolio Management Process'''<ref>[http://www.zeusconsult.com.mx/pm/PPM_P1.pdf Components of a Project Portfolio Management Process -Harvey Levine]</ref><br />
 Discussion of a project portfolio management process must consider four major areas. These are:
 *1. Selecting Projects for the Pipeline (What goes in the pipeline): Getting started in implementing a project portfolio management process is a bit like the chicken and egg question. Do we first attack the existing portfolio and then implement an improved project selection process? Or do we accept the current portfolio and go right after the selection of new projects? There is no prescribed order.
@@ Line 36: / Line 36: @@
-'''The Project Portfolio Management (PPM) Life Cycle'''<ref>The PPM Life Cycle [https://www.ibm.com/developerworks/rational/library/apr05/ciliberti/ developerworks]</ref><br />
+'''The Project Portfolio Management (PPM) Life Cycle'''<ref>[https://www.ibm.com/developerworks/rational/library/apr05/ciliberti/ The PPM Life Cycle -developerworks]</ref><br />
 As with any business process, PPM has a lifecycle that demands the application of appropriate management skills and disciplines, shown in figure below.
@@ Line 60: / Line 60: @@
-'''Benefits of Project Portfolio Management''' <ref>5 Major Benefits of Project Portfolio Management [https://www.keyedin.com/keyedinprojects/article/5-major-benefits-of-adopting-an-effective-project-portfolio-management-and-pmo-initiative/ keyedin]</ref><br />
+'''Benefits of Project Portfolio Management''' <ref>[https://www.keyedin.com/keyedinprojects/article/5-major-benefits-of-adopting-an-effective-project-portfolio-management-and-pmo-initiative/ 5 Major Benefits of Project Portfolio Management -keyedin]</ref><br />
 There are five major types of benefits to be gained by adopting an effective Project Portfolio Management/PMO strategy. These include:
 *Better Decision Making/ability to drive better business decisions: To make good decisions you need good data and that’s why visibility is so crucial, both from a strategic, top-down perspective and from a tactical bottoms-up perspective. When you have a good handle on past project metrics, it makes it much easier to predict future factors like resource utilization. And when you have a good handle on what is happening in your current project portfolio, you can find out which projects are not contributing to corporate objectives. As part of the project portfolio management team, it’s better for you to discover this than hear about if from the line of business managers or even worse, from the executive suite. In the area of resource utilization, a good PMO strategy will help you understand how what you change on one project impacts the delivery of other projects. It will also help you re-prioritize and re-allocate as necessary. And finally, a good  PMO strategy, backed up by solid technology, will allow you to model multiple scenarios to make sure the projects you add will contribute to corporate objectives and not bog down other projects.
@@ Line 69: / Line 69: @@
-'''Challenges of Project Portfolio Management'''<ref>What Makes A Project Portfolio Difficult To Manage?[http://www.thinkingportfolio.com/what-makes-a-project-portfolio-difficult-to-manage/ ThinkingPortfolio]</ref><br />
+'''Challenges of Project Portfolio Management'''<ref>[http://www.thinkingportfolio.com/what-makes-a-project-portfolio-difficult-to-manage/ What Makes A Project Portfolio Difficult To Manage?-ThinkingPortfolio]</ref><br />
 Businesses often face a number of challenges when it comes to managing their project portfolio effectively. Here are a few challenges that can make managing your project portfolio difficult:
 *Too many projects at once: One of the biggest challenges in portfolio management arises when there are multiple projects that need to be taken care of at the same time. Sometimes, lack of a PMO leaves the responsibility of project portfolio management on the individual project managers. Sometimes, one project manager is left to handle multiple projects at the same time, which results in lack of focus and a failure to deliver.
@@ Line 77: / Line 77: @@
-'''What Happens Without Project Portfolio Management?'''<ref>What happens Witjout Project Portfolio Management [http://www.maxwideman.com/guests/ppm2/happens.ht |Jamal Moustafaev]</ref><br />
+'''What Happens Without Project Portfolio Management?'''<ref>[http://www.maxwideman.com/guests/ppm2/happens.ht What happens Witjout Project Portfolio Management -Jamal Moustafaev]</ref><br />
 What happens if a company does not have a sound portfolio management methodology in place? Some the symptoms attributed to organizations not properly analyzing, selecting and managing its projects are:
 *Project and functional managers often clash over resources

← Older revision		Revision as of 17:43, 29 November 2022
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−	'''Project Portfolio Management (PPM)''' is the centralized management of the [[Process\|processes]], [[Method\|methods]], and [[Technology\|technologies]] used by project managers and ~~[[Project Management Office (PMO)\|~~project management offices (PMOs)]] to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial [[goals]] ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project [[Portfolio Management]] [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an [[organization]] can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between [[Strategy\|strategy]] and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its [[Business Value\|business value]] and adherence to [[Business Strategy\|business strategy]]. The portfolio should be designed to achieve a defined [[Business Objective\|business objective]] or benefit. Project management authority Bob Buttrick summarized it when he said, "Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>	+	'''Project Portfolio Management (PPM)''' is the centralized management of the [[Process\|processes]], [[Method\|methods]], and [[Technology\|technologies]] used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial [[goals]] ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project [[Portfolio Management]] [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an [[organization]] can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between [[Strategy\|strategy]] and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its [[Business Value\|business value]] and adherence to [[Business Strategy\|business strategy]]. The portfolio should be designed to achieve a defined [[Business Objective\|business objective]] or benefit. Project management authority Bob Buttrick summarized it when he said, "Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>

@@ Line 23: / Line 23: @@
 **Reporting of items outside of Targets/Limits/Thresholds
 **Stage Gate and Bounding Box Concepts
-*3. Executing PPM (Who does it): <ref>[https://cioindex.com/references/project-portfolio-management/]</ref> is an enterprise-wide process, involving a wide range of participants. PPM is also an extremely visible and sensitive process. How well this process is executed will have the greatest possible impact on the viability and success of the firm, for an extended time. PPM does not only have a wide breadth across the organization, requiring a wide range of participation, but it also has a large depth through the hierarchy. At the upper end, the leadership and direction must come from the very highest levels of the enterprise. Titles such as [[Chief_Executive_Officer_(CEO)|Chief Executive Officer (CEO)]], [[Chief_Operating_Officer_(COO)|Chief Operating Officer (COO)]], and [[Chief_Financial_Officer_(CFO)|Chief Financial Officer (CFO)]] are common. In an organization where IT is a primary business, we can expect the [[Chief_Information_Officer_(CIO)|Chief Information Officer (CIO)]] to play a significant role. Certainly, the VP-Projects or Chief Projects Officer(CPO) is a key player. Implementation of the PPM process will involve three groups of people. These are:
+*3. Executing PPM (Who does it): <ref>[https://cioindex.com/references/project-portfolio-management/ Project Portfolio Management (PPM) Knowledge]</ref> is an enterprise-wide process, involving a wide range of participants. PPM is also an extremely visible and sensitive process. How well this process is executed will have the greatest possible impact on the viability and success of the firm, for an extended time. PPM does not only have a wide breadth across the organization, requiring a wide range of participation, but it also has a large depth through the hierarchy. At the upper end, the leadership and direction must come from the very highest levels of the enterprise. Titles such as [[Chief_Executive_Officer_(CEO)|Chief Executive Officer (CEO)]], [[Chief_Operating_Officer_(COO)|Chief Operating Officer (COO)]], and [[Chief_Financial_Officer_(CFO)|Chief Financial Officer (CFO)]] are common. In an organization where IT is a primary business, we can expect the [[Chief_Information_Officer_(CIO)|Chief Information Officer (CIO)]] to play a significant role. Certainly, the VP-Projects or Chief Projects Officer(CPO) is a key player. Implementation of the PPM process will involve three groups of people. These are:
 **Senior management – providing leadership and direction, and designating their representatives to the PPM Governance Council
 **The members of the PPM Governance Council – who will manage the selection of projects for the portfolio and review projects for possible de-selection

@@ Line 1: / Line 1: @@
-'''Project [[Portfolio]] [[Management]] (PPM)''' is the centralized management of the processes, methods, and technologies used by project managers and [[Project Management Office (PMO)|project management offices (PMOs)]] to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial [[goals]] ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project [[Portfolio Management]] [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an [[organization]] can leverage its project [[selection]] and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between [[Strategy|strategy]] and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its [[business]] [[value]] and adherence to business [[strategy]]. The portfolio should be designed to achieve a defined business [[objective]] or benefit. Project management authority Bob Buttrick summarized it when he said,"Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>
+'''Project Portfolio Management (PPM)''' is the centralized management of the [[Process|processes]], [[Method|methods]], and [[Technology|technologies]] used by project managers and [[Project Management Office (PMO)|project management offices (PMOs)]] to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial [[goals]] ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project [[Portfolio Management]] [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an [[organization]] can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between [[Strategy|strategy]] and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its [[Business Value|business value]] and adherence to [[Business Strategy|business strategy]]. The portfolio should be designed to achieve a defined [[Business Objective|business objective]] or benefit. Project management authority Bob Buttrick summarized it when he said, "Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>
-'''Project Portfolio Management (PPM) as a Business [[Process]]'''<ref>3 Steps to Make Project Portfolio Management a [[Business Process]][http://www.cio.com/article/3030101/leadership-management/3-steps-to-make-project-portfolio-management-a-business-process.html cio.com]</ref><br />
+'''Project Portfolio Management (PPM) as a Business Process'''<ref>3 Steps to Make Project Portfolio Management a Business Process [http://www.cio.com/article/3030101/leadership-management/3-steps-to-make-project-portfolio-management-a-business-process.html cio.com]</ref><br />
-Organizations have a hard time to plan and execute the right initiatives, because project portfolio management (PPM) is not deployed as a business process. With an increasing need and desire to innovate and change the ways we are doing things, one would expect that organizations are keen on project portfolio management (PPM). In an ideal state, PPM is managed as a business process, equivalent to the more traditional process like finance, [[marketing]] and sales, [[procurement]] and human resources management. The following steps to may be taken to deploy PPM a business process:
+Organizations have a hard time to plan and execute the right initiatives, because project portfolio management (PPM) is not deployed as a business process. With an increasing need and desire to innovate and change the ways we are doing things, one would expect that organizations are keen on project portfolio management (PPM). In an ideal state, PPM is managed as a [[Business Process|business process]], equivalent to the more traditional process like finance, [[marketing]] and sales, [[procurement]] and [[Human Resource Management (HRM)|human resources management]]. The following steps to may be taken to deploy PPM a business process:
-*Align [[leadership]]: Implementing PPM as a business process is a game changer and requires adequate change leadership. Part of that is executive alignment. A key element of the alignment process is visualization. Senior leaders must be able to envision what the future-state looks and how that improves their business area and the organization as a whole. An introduction to the high level process [[design]], a demonstration of the PPM [[application]], and a walkthrough of a few use cases, are instruments to get them all on the same page. Once the alignment is there, a change leadership committee should be established, tasked with delivering the PPM solution.
+*Align leadership: Implementing PPM as a business process is a game changer and requires adequate [[Change Leadership|change leadership]]. Part of that is executive alignment. A key element of the alignment process is visualization. Senior leaders must be able to envision what the future-state looks and how that improves their business area and the organization as a whole. An introduction to the high level [[Process Design|process design]], a demonstration of the PPM application, and a walkthrough of a few [[Use Case|use cases]], are instruments to get them all on the same page. Once the alignment is there, a change leadership committee should be established, tasked with delivering the PPM solution.
-*Implement and deploy: PPM is an enterprise application, which means that the implementation and deployment must be managed as such. The project team is a balanced representation of the organization with functional and technical resources. If these two principles are violated, the probability that the end-users do not adopt the PPM solution as intended, is high. The focus of the implementation must be on business process, [[analytics]], application and [[governance]]. These four components make up the integrated PPM solution, and all need to come into play at the same time. PPM projects tend to fail when the focus is primarily on the application. Organizations rush through the [[software]] [[product]] capabilities, make design decisions on-the-go and forget the importance of the business process, governance and analytical requirements. Mobilize a team with internal and external resources. It is imperative that the [[vendor]] can provide the expertise in all the four areas of the PPM solution, and can assist the change leadership committee with manifesting the future-state
+*Implement and deploy: PPM is an enterprise application, which means that the implementation and deployment must be managed as such. The project team is a balanced representation of the organization with functional and technical resources. If these two principles are violated, the probability that the end-users do not adopt the PPM solution as intended, is high. The focus of the implementation must be on business process, [[analytics]], [[Application|application]] and [[governance]]. These four components make up the integrated PPM solution, and all need to come into play at the same time. PPM projects tend to fail when the focus is primarily on the application. Organizations rush through the [[software]] [[product]] capabilities, make design decisions on-the-go and forget the importance of the business process, governance and analytical requirements. Mobilize a team with internal and external resources. It is imperative that the [[vendor]] can provide the expertise in all the four areas of the PPM solution, and can assist the change leadership committee with manifesting the future-state
-*Execute, learn and adjust: When the PPM solution goes live, it’s the start of a new beginning. The primary focus of the project team and business must be on user adoption and tying the experience back to the original business case. It is a good idea to have super user representation in all of the business areas. The super user is a functional expert in the PPM solution and an evangelist pur sang. It is the first line of support for all the end-users. The PPM business process has a natural cadence where at set times and gates, certain activities must be completed. It is not uncommon that this is a one-year cycle. As a consequence, the learn and adjust cycle is at least equal to that period. The organization must go through all the hoops and loops, complete lessons-learned sessions and optimization steps, before the project can be declared a success and closed.
+*Execute, learn and adjust: When the PPM solution goes live, it’s the start of a new beginning. The primary focus of the project team and business must be on user adoption and tying the experience back to the original business case. It is a good idea to have super user representation in all of the business areas. The super user is a functional expert in the PPM solution and an evangelist pur sang. It is the first line of support for all the [[End User|end-users]]. The PPM business process has a natural cadence where at set times and gates, certain activities must be completed. It is not uncommon that this is a one-year cycle. As a consequence, the learn and adjust cycle is at least equal to that period. The organization must go through all the hoops and loops, complete lessons-learned sessions and optimization steps, before the project can be declared a success and closed.
 Project portfolio management (PPM) must be perceived as a business critical process for organizations who have the intention to grow, accelerate and improve. Those organizations who want to be an outlier and exception in their marketplace, out serious effort in implementing and deploying a robust PPM solution. It is part of [[innovation]] and getting better than your competition.

← Older revision		Revision as of 19:31, 28 May 2020
Line 1:		Line 1:
−	Project Portfolio Management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and [[Project Management Office (PMO)\|project management offices (PMOs)]] to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial goals ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project Portfolio Management [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an organization can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between [[Strategy\|strategy]] and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its business value and adherence to business strategy. The portfolio should be designed to achieve a defined business objective or benefit. Project management authority Bob Buttrick summarized it when he said,"Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>	+	'''Project Portfolio Management (PPM)''' is the centralized management of the processes, methods, and technologies used by project managers and [[Project Management Office (PMO)\|project management offices (PMOs)]] to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial goals ― while honoring constraints imposed by customers, strategic objectives, or external real-world factors.<ref>Definition of Project Portfolio Management [https://en.wikipedia.org/wiki/Project_portfolio_management Wikipedia]</ref> Portfolio management ensures that an organization can leverage its project selection and execution success. It refers to the centralized management of one or more project portfolios to achieve strategic objectives. Research has shown that portfolio management is a way to bridge the gap between [[Strategy\|strategy]] and implementation.<ref>Featured Topic - Portfolio Management [https://www.pmi.org/learning/featured-topics/portfolio pmi.org]</ref> Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed on its business value and adherence to business strategy. The portfolio should be designed to achieve a defined business objective or benefit. Project management authority Bob Buttrick summarized it when he said,"Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."<ref>What is Project Portfolio Management [https://www.projectsmart.co.uk/what-is-project-portfolio-management.php projectsmart.co.uk]</ref>

@@ Line 23: / Line 23: @@
 **Reporting of items outside of Targets/Limits/Thresholds
 **Stage Gate and Bounding Box Concepts
-*3. Executing PPM (Who does it): [http://www.cioindex.com/cio-toolkit/it-governance/category/cid/109/project-portfolio-management|Project Portfolio Management (PPM)] is an enterprise-wide process, involving a wide range of participants. PPM is also an extremely visible and sensitive process. How well this process is executed will have the greatest possible impact on the viability and success of the firm, for an extended time. PPM does not only have a wide breadth across the organization, requiring a wide range of participation, but it also has a large depth through the hierarchy. At the upper end, the leadership and direction must come from the very highest levels of the enterprise. Titles such as [[Chief_Executive_Officer_(CEO)|Chief Executive Officer (CEO)]], [[Chief_Operating_Officer_(COO)|Chief Operating Officer (COO)]], and [[Chief_Financial_Officer_(CFO)|Chief Financial Officer (CFO)]] are common. In an organization where IT is a primary business, we can expect the [[Chief_Information_Officer_(CIO)|Chief Information Officer (CIO)]] to play a significant role. Certainly, the VP-Projects or Chief Projects Officer(CPO) is a key player. Implementation of the PPM process will involve three groups of people. These are:
+*3. Executing PPM (Who does it): <ref>[https://cioindex.com/references/project-portfolio-management/]</ref> is an enterprise-wide process, involving a wide range of participants. PPM is also an extremely visible and sensitive process. How well this process is executed will have the greatest possible impact on the viability and success of the firm, for an extended time. PPM does not only have a wide breadth across the organization, requiring a wide range of participation, but it also has a large depth through the hierarchy. At the upper end, the leadership and direction must come from the very highest levels of the enterprise. Titles such as [[Chief_Executive_Officer_(CEO)|Chief Executive Officer (CEO)]], [[Chief_Operating_Officer_(COO)|Chief Operating Officer (COO)]], and [[Chief_Financial_Officer_(CFO)|Chief Financial Officer (CFO)]] are common. In an organization where IT is a primary business, we can expect the [[Chief_Information_Officer_(CIO)|Chief Information Officer (CIO)]] to play a significant role. Certainly, the VP-Projects or Chief Projects Officer(CPO) is a key player. Implementation of the PPM process will involve three groups of people. These are:
 **Senior management – providing leadership and direction, and designating their representatives to the PPM Governance Council
 **The members of the PPM Governance Council – who will manage the selection of projects for the portfolio and review projects for possible de-selection
@@ Line 100: / Line 100: @@
 [[IT_Governance|IT Governance]]<br />
 [[Project_Management|Project Management]]<br />
-[[Project_Portfolio_Rationalization|Project Portfolio Rationalization]]
+[[Project_Portfolio_Rationalization|Project Portfolio Rationalization]]<br />
-[[Project Charter|What is a Project Charter?]]
+[[Project Charter|What is a Project Charter?]]<br />
-[[Project Dependencies|Project Dependencies definition]]
+[[Project Dependencies|Project Dependencies definition]]<br />
-[[Project Life Cycle|Understand project life cycles]]
+[[Project Life Cycle|Understand project life cycles]]<br />
-[[Project Management|What is project management?]]
+[[Project Management|What is project management?]]<br />
-[[Project Management Maturity Model (PMMM)|Introduction to project management maturity model]]
+[[Project Management Maturity Model (PMMM)|Introduction to project management maturity model]]<br />
-[[Project Management Body of Knowledge (PMBOK®)|PMBOK]]
+[[Project Management Body of Knowledge (PMBOK®)|PMBOK]]<br />
-[[Project Management Office (PMO)|Project Management Office (PMO)]]
+[[Project Management Office (PMO)|Project Management Office (PMO)]]<br />
-[[Project Planning Matrix|Project Planning Matrix]]
+[[Project Planning Matrix|Project Planning Matrix]]<br />
-[[Project Scope|Project Scope]]
+[[Project Scope|Project Scope]]<br />
-[[Stage-Gate| What is the stage gate process?]]
+[[Stage-Gate| What is the stage gate process?]]<br />
 ===References===