Portfolio management is a discipline that involves the selection, prioritisation and control of an organisation’s programmes and projects, in line with its strategic objectives and ability to deliver.
When projects and programmes are focused on the deployment of outputs, outcomes and benefits, portfolio management becomes paramount. Portfolios exist as coordinating structures to support deployment, to ensure the optimal prioritisation of resources to align with strategic intent and create value.
There is an internationally recognised certification in portfolio management, based on the MoP (Management of Portfolio) guide, which explains how to build a portfolio prioritisation model.
The context in which the MoP Management of Portfolio training can be applied
MoP® (Management of Portfolios) is a guide that includes principles, techniques and practices to help companies successfully adopt portfolio management. MoP answers two main questions:
- How can you choose the best projects and programmes for your organisation’s strategic objectives?
- How do you execute them to maximise value for customers and other stakeholders?
MoP focuses on the change brought about by project and programme management as a whole, rather than on the work of individual initiatives. MoP best practices are closely aligned with PRINCE2 and MSP. They help managers and decision-makers to understand how portfolio management can maximise return on investment and to initiate and sustain transformation.
Project portfolio management: The benefits of applying MoP training
The MoP® certification course takes a strategic approach to project and programme management. It provides an overview of all activities, including portfolio content, costs, risks, progress and impact on operational activities associated with the organisation’s strategic objectives.
The benefits of applying the MoP guide :
- Helps to identify and prioritise various initiatives, such as programmes or projects within the portfolio.
- Eliminates redundant, duplicated and under-performing programmes and projects
- Ensures that projects and programmes deliver the greatest possible benefits and contribute to strategic objectives
- Improves transparency, accountability and corporate governance
- Helps manage resources more effectively
- Helps improve engagement and communication between relevant stakeholders, understand and respond to organisational needs and expectations, and communicate strategic objectives
The MoP portfolio management method’s target audience
- Those involved in formal and informal portfolio management roles encompassing investment decision making, project and programme delivery and benefits realisation
- Those involved in the selection and delivery of change initiatives, including :
- Steering committee members and change managers
- Executive Programme Director
- Project, programme and/or portfolio managers, change and benefits managers
- Business case writers and project experts
MoP Foundation training and MoP Practitioner training
MoP (Management of Portfolios) is an internationally recognised certification in portfolio management. The MoP certification scheme comprises two levels, MoP Foundation and MoP Practitioner.
MoP Foundation training
The training provides knowledge of the principles, cycles, practices, techniques, roles, responsibilities, documents and organisational context in which portfolio management operates.
MoP Practitioner training
The course explains how to apply and adapt MoP best practices. During the course you will also learn how to analyse the data, documentation and roles in a given scenario.
How to complete the MoP Management of Portfolio course
Make sure you get the best ROI and benefit from the advice of QRP trainers, experts in project, programme and portfolio management.
QRP International is an accredited training organisation (ATO) for MoP training. The training is available as face-to-face, virtual classroom or in-company training, depending on your needs or those of your employees.
Apply the portfolio management method within a software application
It is undeniably difficult to implement a methodology without a tool. Project portfolio management software will enable you to manage your project portfolio both strategically and operationally. Project portfolio management software is essential. In organisations that have to juggle a multitude of projects, using a manual tool (such as Excel) quickly proves to be counter-productive.
Choose a tool that allows you to :
- produce dashboards
- determine the resources to be allocated to each project
- define the necessary budgets
- plan projects and associated tasks, etc.