Project Portfolio Management

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Course Number: PROJMGT 7120
Course Name: Project Portfolio Management (Online)
Course Description:    Organizations are under pressure to complete more complex programs and projects faster than ever and while still satisfying the customer and organizational strategic objectives. However, since resources are limited, only those programs and projects that support the organization's strategies in the first place should be selected. Next, the selected programs/projects need to be monitored and controlled regularly to determine if they continue to support those objectives. If not, those resources should be redirected to other programs and projects. This course focuses on why portfolio management (PM) is essential for organizations, explains how to set up a portfolio management process, describes roles and responsibilities for people involved in PM, evaluates models to use, determines metrics to consider, and presents guidelines to successfully implement PM.
Prerequisites:    PROJMGT 7010 and PROJMGT 7020 or consent of instructor
Level: Graduate
Credits: 3
Format: Online

Registration Instructions

NOTE: The information below is representative of the course and is subject to change.  The specific details of the course will be available in the Desire2Learn course instance for the course in which a student registers.

ADDITIONAL INFORMATION

Learning Outcomes

After completion of this course you should be able to

  • Explain the differences between managing projects, programs, and portfolios.
  • Describe the challenges in project portfolio management.
  • Describe the project portfolio management process.
  • Identify the key roles and responsibilities of a Portfolio Manager, Enterprise Project Management Office, Portfolio Review Board, Program Manager, and Project Manager.
  • Use various project portfolio models.
  • Establish metrics for successful portfolio management.
  • Describe the steps to implement portfolio management in your organization.


Unit Descriptions

Traditional project management is a process where each project is approved and managed independently. In this arena, the focus is on a single project and the triple constraint – scope, time, and cost – of that project separate from other projects. Typically, the project manager is responsible for evaluating the performance of the project. At times, given the importance of the project, the project might be evaluated or reviewed at the executive level, but a review is still conducted in isolation of other projects.

By contrast, in the portfolio management environment, there is a predefined process for selecting projects and a uniform process for evaluating their success. The selection decisions, and the periodic evaluations, are made in the light of the enterprise’s business goals and strategies. Evaluations are conducted regularly and are based on standardized procedures. The emphasis is on ensuring that each program and project contributes to the overall organizational success. The program and project must continue to support business goals even if there are major changes in the requirements.

A full-scale project portfolio management (PPM) process goes beyond the management of multiple projects in that all of the programs, projects, and operational work in the PPM system are evaluated in concert with each other and in the light of the corporate vision and mission. Portfolio management has a broader context since it emphasizes a collective response to organizational needs during the planning and execution of these programs, projects, and operational work.

Grading Information

Grading Scale
A = 95-100 %
B = 89-94 %
C = 84-88 %
F = Below 84 %

The group activities comprise 40% of your final grade, and the research paper comprises 60% of your final grade.

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