Management of Portfolios (MoP™) Launch

During August 2011 Snap-Tech launched the APM Group’s Foundation and Practitioner level qualifications to support the new best practice “Management of Portfolios” guidance.

This new Portfolio Management best practice guide will help senior executives and portfolio management practitioners to understand how implementing a Portfolio Management approach can address business challenges and deliver products and services in line with strategic objectives.

If you’re from an organization with projects and programmes that require more control, improved approvals, clearer alignment with strategic objectives and critically important – investing in the right change initiatives and implementing them correctly.

When taking a “bigger picture’ view of projects and programmes within an organization, Individuals and organizations are much more cautious with their investments these days. The following questions are common:

1. Can we afford this?
2. Can we take the risk?
3. Should we be doing this?
4. Are all possible questions being asked of change initiatives (projects and programmes)?
5. How do you do better with less when it comes to managing several projects and programmes?
6. Are we sure this investment is right for us and how will it contribute to our strategic objectives?

Target Audience – who can benefit from MoP™?

Actually almost everyone within an organization benefits from MoP because using MoP means that a more important aspect of strategic alignment is achieved, being ACTUAL strategic contribution. Organizational audience for MoP is:

• members of management board of directors of change,
• senior responsible owner’s (SROs),
• portfolio, programme, project and business change and benefits managers,
• business case writers and project appraisal people
• and those in other functions/departments with a role in delivering strategic objectives

What is MoP™?

Portfolio represents a “collection” therefore Management of Portfolios (MoP®) looks at the collective investment not an individual perspective. This means doing the right things and doing them in the right way. As such, the days of projects being funded without having a clear understanding of the full costs, benefits and risk are well and truly over, and rightly so!

Portfolio Management is a coordinated collection of strategic processes and decisions that together enable the most effective balance of organizational change and ‘business as usual’. While portfolio management will be more effective where robust programme and project management (PPM) exists, this is not a prerequisite for its successful implementation. The right time to question the validity of investments is always NOW.

Of critical importance, Organizational Energy sits at the very heart of the Portfolio Management model. This is because ultimately it is the energy and effort of the people within the organization that will create success. Behaviours are also addressed with MoP – Improved accountability and corporate governance.

The MoP investment in the change initiative is designed to achieve strategic objectives in the context of business as usual and the more efficient utilization of scarce resources including skilled project managers.

Five Portfolio  Management Principles

The portfolio management principles represent the foundations upon which effective portfolio management is built. They provide the organizational environment in which the portfolio definition and delivery practices can operate effectively.

1. Senior Management Commitment
2. Governance Alignment
3. Strategy Alignment
4. Portfolio Office
5. Energized Change Culture

MoP, fit for purpose

In order to ensure that MoP was fit for purpose it went through a number of quality assurance processes including six review stages, involving over 40 individuals, drawn from experts in portfolio management, authors of other Best Practice guides, end users from public and private organizations, educational institutes and accredited training organizations.

Trusted Resource

MoP complements the suite of related PPM guidance to help organizations and individuals use BEST PRACTICE to manage projects, programmes and services consistently and effectively. If you’ve attended any of accredited courses at Snap-Tech, then you’ll know the high quality of training, course material and tools. MoP is no exception.

Further benefits:

• With MoP there can be improved strategic contribution which means MORE of the RIGHT projects undertaken!
• Projects that are redundant, duplicate and low value adding can be removed and make space for more effective implementation of projects and programmes. This can effectively improve the portfolio by an estimated 20% to 30% “upfront” as soon as a MoP approach is adopted.
• The programmes and projects undertaken are prioritized in terms of their contribution to the organization’s strategic objectives and overall level  of risk
• Programmes and projects are managed consistently to ensure efficient and effective delivery
• Benefits realization is maximized to provide the greatest return (in terms of strategic contribution and efficiency savings) from the investment made.

Training Event

The event is an intensive 3 ½ day course, which includes the Management of Portfolio Foundation examination on day 3 and the Practitioner exam on day 4. This training enables participants to understand and apply the principles, practices, techniques, roles, responsibilities, documents and organisational context within which portfolio management operates.

Do you want to know more about MoP events and accreditation?

To find out more request a call back!
E-mail us at info@snaptech.co.za.
Or contact us on +27 (0) 11 8017600