Every organization that wants to manage change through effective strategy formulation and execution needs portfolio management. Irrespective of whether a profit-based enterprise, a non-profit entity or government, organizational project portfolio management provides the mechanism to achieve your project goals. A profit-driven organization may establish a portfolio of projects that is aimed at profit growth, market share increase, process improvement, etc., whereas a non-profit entity or government agency may initiate a portfolio of projects geared towards increasing customer satisfaction or reducing costs. The goals and metrics of success may be different, but the principles of portfolio management are the same.Project portfolio management is a relatively new topic that was initially focused primarily on how a portfolio can help organizations align their projects with enterprise strategy. However, many projects in the lower organizational units of large enterprises are driven by their own strategic needs and operational demands, making it difficult to show direct alignment with enterprise strategy.Organizational Project Portfolio Management: A Practitioner's Guide offers a generic, practical methodology and tool kit to design, build, and manage a balanced portfolio at any level of the enterprise. These techniques can be used irrespective of business industry, where the portfolio management group is located within the organizational hierarchy, or the type of projects contained. Key Features • Discusses how the principles of financial portfolio management are applicable to project portfolios, and outlines the three key steps to achieving a profitable project portfolio: 1) defining your project investment strategy, 2) selecting the right projects, and 3) effectively managing them • Illustrates how to initiate, analyze, rank, prioritize, select, reprioritize, terminate/complete and close projects effectively under the purview of a portfolio • Applies a systematic, principled approach for evaluating and comparing several competing projects • Presents a model and PPM methodology for a balanced portfolio based on concepts similar to a framework known as the 'balanced scorecard' that allows you to create a balance along any project characteristic such as size, risk, and development time • Demonstrates how earned value management techniques can be effectively applied at the portfolio level and addresses risk and uncertainty • Defines the role of a program management office (PMO) to maximize your portfolio effectiveness