Contextual PM-competences (Fach) / 3.03 Portfolio Orientation (Lektion)

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• Summary A project portfolio is a set of projects and/or prgramms brought together for the sake of control, coordination and optimisation. Project portfolio management is the management of a project portfolio. It is a permanent and on-going management task of a project-oriented organisation. Its purpose is to coordinate all on-going projects and programmes for an organisation or a part of it. Important project portfolio management tasks include project evaluation, project selection, project prioritisation, use of synergies, cross-project documentation and implementation, monitoring and optimisation of project and portfolio standards. Multi-project management is a set of methods an organisation can use to enable management of multiple projects. It addresses the coordination of project activities across multiple projects of an organisation. Prioritisation methods can be differentiated into single-dimensional, multi-dimensional or comparative methods
• Definition project portfolio A project portfolio is a set of projects and/or prgramms brought together for the sake of control, coordination and optimisation. 
• Project portfolio management Project portfolio management is the management of a project portfolio. It is a permanent and on-going management task of a project-oriented organisation. Its purpose is to coordinate all on-going projects and programmes for an organisation or a part of it. Important project portfolio management tasks include project evaluation, project selection, project prioritisation, use of synergies, cross-project documentation and implementation, monitoring and optimisation of project and portfolio standards. 
• Multi-project management Multi-project management is a set of methods an organisation can use to enable management of multiple projects. It addresses the coordination of project activities across multiple projects of an organisation.
• Project Prioritisation methods (three) Single-dimensional methodso Net present value o Internal rate of return Multi-dimensional methodso Checklists o Scoring models (highest benefit, lowest risk, highest strategic importance) Comparative methodso Pairwise (score based on comparison) o Linear Programming
• Tasks of project portfolio management • Project evaluation • Project selection • Project prioritisation • Project assignment • Portfolio capacity management • Portfolio risk management • Cross-project monitoring • Use of synergies • Cross-project documentation • Cross-project completion • Implementation, monitoring and optimisation of project   and portfolio standards
• Balanced score card A tool to help align project objectives with company objectives. Presentation of a mixture of financial and nonfinancial measures each compared to a target value within a single concise report. 
• Performance indicators of a balanced score card Performance indicators: • Classic parameters: status and balance of performance, quality, schedule and cost, yield, return on investment • Customer parameters: customer satisfaction, additional orders, internal and external claims, partners, suppliers, and other stakeholders • Process Parameter: involvement in strategy, PM audits, knowledge management • Staff parameters: project culture, employee satisfaction, acceptance of the project manager, support from management

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