What is Project Portfolio Management? PM in Under 5
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- Опубліковано 12 вер 2024
- Portfolio Management is becoming a more important part of the project management world - especially at enterprise level. So, what is Project Portfolio Management?
Here, Dr Mike Clayton, founder of OnlinePMCourse... answers this question, in under 5 minutes.
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I have a Credit Risk Interview in the morning, and this video helped me connect all the dots I learned in 4-years of my degree. Your way of explaining is easy to understand and memorize. THANK YOU
You're welcome, I hope it goes well.
You may also like Project Portfolio Management: How to Craft a Portfolio in 5 Steps ua-cam.com/video/PGGq-nN5qxo/v-deo.html
Hello Dr. Mike
I usually like reading from books; however, your lectures are of high quality compared to others who are doing online classes.
Highly appreciated for your efforts❤
Thank you. I have also written books on Project Management:
- How to Manage a Great Project: geni.us/4Iz6M
- Risk Happens! geni.us/BN4bH
- Brilliant Project Leader: geni.us/BrilliantPL
- The Influence Agenda: geni.us/InfAg
I like your teaching Dr. Mike Clayton. So far you have helped to get to my last semester for my master's degree. You are good.
Thank you very much, Ellias.
Kindly share some notes am in semester one
It is worth every second the fact that within a very short time you have been able to elaborate and explain the technique to a point one can easily understand and apply it is applauding. Nevertheless the future one turn to imagine can be a reality if a good information like this is passed and applied accordingly.
Very impressive after going through this lecture i found out many problems could be solve if proper note is taking and the strategies aplied well , the steps towards achieving greatness demands absolute focus and timing which i believe the time is now because "tomorrow will never come" it is understood one may encounter different challenges but with proper base and understanding the easy path to it can be worked out. Beautiful stuff sir❤
Thank you.
Very true about different challenges that can hinder a successful trade. In fact even starting up a process can also be as a result of challenges too because i believe many may have the interest but cases like low salary scheme,health, natural disaster etc still make them prolong their interest.
But then with channels like this and useful information like this all of these can be tackled well and solutions given to settle it to the minimal .
clear and informative lecture. Disclaimer:No student debt was created during the wachting of this video. Thanks OPC
Thank you - my intent was to make good information freely available.
Indeed a very memorable teaching and a very remarkable video , I really appreciate I use to think account management was another over blown hype till I started investing with Mr TIMOTHY ERIC MEEK who help's me to grow my profits and increase my knowledge of investment.
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Great content.
Thank you so much - this training is really needed.
You're very elcome.
Thank you very much for this video. Your explaining method is just perfect!
Thanks, my pleasure.
Thank you so much for this video with the great examples. Your teaching method is so good.
You're very welcome.
What is “initiatives”?
Thank you very well explained!!!
Initiatives: Actions, steps, things we do. A blanket terms for projects, programs, and smaller things, which don't merit either label, like just fixing something.
Thank you. Super well explained
You're welcome, Kay.
Excellent and brief.
Thank you.
Excellent
Thank you.
Very informative vedio … thank u sir
My pleasure.
Thank you for this concise and to the point presentation.
You're welcome
You may also like Project Portfolio Management: How to Craft a Portfolio in 5 Steps ua-cam.com/video/PGGq-nN5qxo/v-deo.html
For more detail still, we have 'Introduction to Portfolio Management - with Murali Kulathumani' ua-cam.com/video/hmie4EMM1D0/v-deo.html
And there is this companion video: What is Program Management? ua-cam.com/video/TPPLWC_zd1I/v-deo.html
.
one video on Planning Advisor/Consultant roles please
Can you say more about what you mean by these role titles. They are not what I'd call 'standard'. Indeed, when I think of a Planning Consultant, I think of someone who advises on Town Planning.
what is the difference between a sub-portfolio and a program?
Well now, that's a good question.
I am not aware that sub-portfolio is a widely used term with a clear definition in our realm. So I must assume it means what it appears to mean. That is: a portfolio that is a subset of a bigger portfolio.
So, what does that mean? It means that if the portfolio has 6 programs and 8 other projects, it may be divided into three or four sub-portfolios to make it easier to manage - each with their own (sub-)Portfolio Management Office.
But a sib-portfolio could be a few projects form a portfolio of a lot of projects. This few projects could all have some reason to be considered and managed together. In that sense, a sub-portfolio could be another word/phrase for a program - they may effectively be the same.
So, what I am saying, is that you would have to ask people who are working where the term sub-portfolio is in use. I can only speculate.
Why is a portfolio management office critical to the success of project delivery
Sebrina.There are 5 points to answering your question.
1. First note that there are Portfolio, Project, and Program Management Offices - all labeled PMO - see ua-cam.com/video/cdAfZijI_Hc/v-deo.html
2. Clearly, it's a Portfolio Management Office (PfMO) that specifically supports Portfolio Management within an Organization - and will probably provide little or no support at a Project level
3. However, a PfMO may provide project support, or there may be a Project Management Office (PjMO) that supports one or more projects
4. The support a Project will get from its PMO can vary based on the terms of reference of the PMO
5. So, the PMO (PfMO or PjMO) may or may not be critical to the success of a project. More likely it will be supportive of the success of any one project, but an enabler for effective project management across the enterprise.
Do take a look at the video ua-cam.com/video/cdAfZijI_Hc/v-deo.html for the kinds of support PMOs give at different levels.
Hi , am i too old to start a career in Asset management as a portfolio manager at 33 years old ? thanks in advance
Malik - i don't know anything about the asset management industry, nor about cultural values around age in the place where you live and work. But, from where I am sitting, 33 is plenty young enough to learn a load of new skills and build a new career. Go for it!
Is their any videos about strategic Management Process?
Check out my Strategic Thinking playlist: ua-cam.com/play/PLsz8d8r2a997H7FfJoxfqUBa2LLaLgTot.html
What is the difference between Project Portfolio Management and Organisational Project Management? Looks the same...
Kenneth, I'm not sure what you mean by 'Organisational Project Management' and if you mean something different from 'Project Management'.
Project Management manages a project. Portfolio management is a strategic process for determining, scheduling, and organizing the set of projects and programs (the portfolio) that an organization will run, to achieve its strategic aims.
@@Onlinepmcourses yes I do mean Organisational Project Management. It is mentioned in PMI and elsewhere. They looked the same as Project Portfolio Mgmt. That's why I asked. I read both definitions but no one has made a comparison... at least from what I googled.
@@kennethpeace Okay, thank you - I have looked in PMBOK 6. The way PMI uses it here is, to me, a little uncomfortable. But it is clear what they mean. They use the term 'Organisational Project Management' to mean the framework of Portfolio management, Program management, and Project management. This is what Axelos refers to as P3M (Program, Portfolio, and Project Management) - a better term in my view.
Anyway, even though it's clear what they mean by the term, but they don't give any hint about the methodology nor even the specific concerns behind it. Even Axelos doesn't have a specific methodology for P3M - just a maturity model (P3M3). So, I would suggest that Organisational Project Management is just an umbrella term for the three disciplines - and so, not really a thing in itself.
Thank you for alerting me to a small corner of the PMBOK Guide that I'd missed. But, in my view, it is an undeveloped corner that has an unhelpful name. As for if and how it will feature in PMBOK 7... Frankly, I'd be surprised if we learn any more then.
Online PM Courses - Mike Clayton Thank you so much for your explanation. 😊 Really appreciate it!
@@kennethpeace You're very welcome. It's what I'm here for.
Mike
Hi , am i too old to start a career in Asset management as a portfolio manager at 33 years old ? thanks in advance
Malik - i don't know anything about the asset management industry, nor about cultural values around age in the place where you live and work. But, from where I am sitting, 33 is plenty young enough to learn a load of new skills and build a new career. Go for it!
@@Onlinepmcourses ,thanks a lot for your very encouraging message, you see i come from paris and one of the academic teacher of one prestigious school down there told me , i might be too old as in the finance job market , consider only young people under 26 blabla . . . She totaly ruined my mood
@@malikmimoun4938 As I say, I don't know the finance sector well, nor the French job market. But the fact is, if you can do the work and have a strong desire, then go for it and prove her wrong! As an absolute minimum, start speaking to potential employers in the sector, to get a sense of what they are looking for in a late-early or early-mid career professional, so you can assess the situation with some facts and tailor your preparation and applications to meet the market's needs.
@@Onlinepmcourses oh year absolutlely , it make sens to me ! thanks for the pieces of advices and great job .