Portfolio management is becoming the ‘must have’ for organizations to prosper and survive in this decade and beyond. No longer can the organizational focus be one of following best and repeatable practices as resource limitations mean only those programs, projects, and operational work that add business value can and should be pursued. Executives are focusing on strategic ability and managing complexity, which can only be done through a disciplined portfolio process in ensuring the best mix of programs, projects, and operational work is under way. In turn, the portfolio is constantly in flux as difficult decisions are made if a project, for example, is no longer contributing to business value and providing benefits and should be terminated to reallocate resources to one of higher priority. Commitment to this difficult approach is necessary at all levels, and communication is required so everyone knows how their work contributes to the organization’s strategic goals and objectives. Portfolio Management: Delivering on Strategy, Second Edition focuses on the benefits of portfolio management to the organization. Its goal is to provide senior executives a view on how portfolio management can deliver organizational strategy. The emphasis is on the specific aspects within the portfolio management discipline and how each aspect should be managed from a business perspective and not necessarily from a portfolio management perspective. Highlights of the book include: Agile portfolio management Delivering organizational value Portfolio management and uncertainty Portfolio governance Marketing a portfolio Portfolio management success Starting with a review of the project portfolio concept and its development, this book is a reference for executives and practitioners in the field, as well as a students and researchers studying portfolio management.

Executives should not necessarily know the intricacies of project management, but they should know how project management, as a discipline, can benefit the organization in implementing its strategies and realizing its vision. The only way that executives can effectively apply project management to realize these goals is to have sound knowledge of the project management discipline. The purpose of this book is to provide executives with a comprehensive overview of the discipline of project management. It focuses on the benefits of project management to an organization. The goal is to provide executives with a view as to how project management can deliver organizational strategies. The various chapters focus on specific aspects within the project management discipline and how each aspect should be managed from a business perspective. The book covers the entire spectrum of project management from a management and leadership perspective. The focus is not necessarily on what needs to be done from a project management perspective, but on what organizations and senior executives can do to facilitate projects. The book covers: The value of project management Project management as a strategic enabler Project, program, and portfolio management The role of the project management office in the successful delivery of projects, programs, and portfolios The benefits of project deliverables bring Sustainability of the organization Governance and the role of the project sponsor. The book concludes with a comprehensive portfolio, program, and project management framework. This holistic framework enables organizations to achieve value from project management and realize strategic goals.

Portfolio management is becoming the 'must have' for organizations to prosper and survive in this decade and beyond. No longer can the organizational focus be one of following best and repeatable practices as resource limitations mean only those programs, projects, and operational work that add business value can and should be pursued. Executives are focusing on strategic ability and managing complexity, which only can be done through a disciplined portfolio process in ensuring the best mix of programs, projects, and operational work is under way. In turn, the portfolio is constantly in flux as difficult decisions are made if a project, for example, is no longer contributing to business value and providing benefits and should be terminated to reallocate resources to one of higher priority. Commitment to this difficult approach is necessary at all levels, and communication is required so everyone knows how their work contributes to the organization's strategic goals and objectives. Portfolio Management: Delivering on Strategy, Second Edition focuses on the benefits of portfolio management to the organization. Its goal is to provide senior executives a view on how portfolio management can deliver organizational strategy. The emphasis is on the specific aspects within the portfolio management discipline and how each aspect should be managed from a business perspective and not necessarily from a portfolio management perspective. Highlights of the book include: Agile portfolio management Delivering organizational value Portfolio management and uncertainty Portfolio governance Marketing a portfolio Portfolio management success Starting with a review of the project portfolio concept and its development, the book is a reference for executives and practitioners in the field, as well as a students and researchers studying portfolio management.

Executives should not necessarily know the intricacies of project management, but they should know how project management, as a discipline, can benefit the organization in implementing its strategies and realizing its vision. The only way that executives can effectively apply project management to realize these goals is to have sound knowledge of the project management discipline.

The purpose of this book is to provide executives with a comprehensive overview of the discipline of project management. It focuses on the benefits of project management to an organization. The goal is to provide executives with a view as to how project management can deliver organizational strategies. The various chapters focus on specific aspects within the project management discipline and how each aspect should be managed from a business perspective.

The book covers the entire spectrum of project management from a management and leadership perspective. The focus is not necessarily on what needs to be done from a project management perspective, but on what organizations and senior executives can do to facilitate projects. The book covers:

The value of project management

Project management as a strategic enabler

Project, program, and portfolio management

The role of the project management office in the successful delivery of projects, programs, and portfolios

The benefits of project deliverables bring

Sustainability of the organization

Governance and the role of the project sponsor.

The book concludes with a comprehensive portfolio, program, and project management framework. This holistic framework enables organizations to achieve value from project management and realize strategic goals.

Table of Contents

1. Introduction

2. Value of Project Management

2.1. Value Components

2.2. Project Success Rates

2.3. The Executive’s Role in Realising Value from Project Management

3. Strategic Alignment of Programmes and Projects

3.1. Strategic Alignment of Programmes and Projects

3.2. Aligning Projects with the Organisational Vision

3.3. The Executive’s Role in the Strategic Alignment of Programmes and Projects

4. Portfolio Management

4.1. Defining Portfolio Management

4.2. Overview of Portfolio Management Standards

4.3. Portfolio Management Process

4.4. Portfolio Management Success

4.5. The Role of the Portfolio Manager

4.6. The Executive’s Role in Portfolio Management

5. Programme Management

5.1. Defining Programme Management

5.2. Programme Management Framework

5.3. Overview of Programme Management Standards

5.4. The Role of the Programme Manager

5.5. Programme Management Success

5.6. The Executive’s Role in Programme Management

6. Project Management

6.1. Defining Project Management

6.2. Overview of Project Management Standards

6.3. Methodologies

6.4. Talent Management

6.5. Project Management Maturity

6.6. Project Success

6.7. The Executive’s Role in Project Management

7. Project Management Offices

7.1. Portfolio Management Offices

7.2. The Role of the PMO

7.3. PMO Maturity Stages

7.4. Metrics. for the PMO

7.5. PMO Challenges

7.6. The Executive’s Role in the Project Management Office of the PMO

8. Benefits Realisation Management

8.1. Defining Benefits Realisation Management

8.2. The Benefits Realisation Management Process

8.3. Roles and Responsibilities within BRM

8.4. Challenges Facing Benefits Realisation Management

8.5. Profile of a Benefit

8.6. Benefits Dependency Network (BDN)

8.7. Benefits Realisation Management Maturity

8.8. The Executive’s Role in Realising Benefits

9. Sustainability in Project Management

9.1. Defining Sustainability

9.2. Sustainability in Project Management

9.3. Sustainability in Project Management Competencies

9.4. Maturity Model for Sustainability in Project Management

9.5. Project Management Sustainability Model

9.6. The Executive’s Role in Sustainability Project

Management

10. Project Governance and Auditing

10.1. Corporate and Project Governance

10.2. Defining Project Governance

10.3. Project Governance and Project Success

10.4. Project Governance—Roles and Responsibilities

10.5. Project Governance Framework

10.6. Contextualising Project Governance

10.7. Project Auditing

10.8. The Executive’s Role in Project Governance

11. Executive Sponsor

11.1. Defining the Executive Sponsor

11.2. Characteristics of the Executive Sponsor

11.3. Role of the Executive Sponsor

11.4. Project Success and the Executive Sponsor

11.5. Challenges Facing the Executive Sponsor

11.6. Empowering the Executive Sponsor

12. Comprehensive Overview of Project Management

12.1. Comprehensive 3PM Framework

12.2. Symbiotic Relationships

12.3. Chief Project Officer