[MUSIC PLAYING]
Today, we're talking about what
portfolio project managers do.
We're also going to talk
about why this matters.
But first of all, let's
look at a portfolio.
So portfolio is a collection
of several different things
including other portfolios--
some people call
them subportfolios--
that also have
programs and projects.
The portfolio can also include
individual projects as well as
programs.
Even these programs can include
other subprograms, projects,
and even operational
activities that are all
related to this portfolio.
So the portfolio is
managed as a group.
And it's aligned to the business
strategy of the company.
All of these are measured,
ranked, and prioritized.
So portfolio
management is important
because it's the most effective
way to implement these business
strategies.
As we've talked about before in
some of our other white board
sessions, the strategic
objectives help
set the programs
and the projects.
And that's part of what
these portfolio managers do.
They manage one or
more portfolios.
And they are the ones who
work with different financial
algorithms and financial
models to align
their programs,
projects, and even
these operational activities
to the strategic objectives.
They work with different
programs and dashboards
to measure, rank,
and prioritize these.
They are focused on a bird's
eye view of everything
within this portfolio.
They're worried
about the high level.
They're not in the weeds.
Ideally within the
organization, there
are project managers
and program managers
managing the
different components
in these portfolios that report
into the portfolio manager.
So why does this matter?
By having a portfolio manager
practicing good portfolio
management, it helps to
ensure that the right work is
done in an organization.
Likewise, by having a project
manager practicing good project
management ensures the
work is done right.
Project Management Institute
conducted a study in 2012
that documents that
62% of products
meet or exceed their return
on investment in a portfolio
by having portfolio management.
So who are the people who
performs this portfolio manager
role?
It's typically performed by
executives or senior level
practitioners in an
organization because they're
focusing on the business
strategy of the organization.
So as you can see
the portfolio manager
has a critical role
in the organization.
So if you need a tool that can
help you manage your portfolio,
then sign up for our software
now at projectmanager.com.
[MUSIC PLAYING]