Contents

Foreword xi

Max Wideman

Acknowledgments xvii

The Author xxi

Introduction 1

Part One: A Practical Guide to Project Portfolio

Management 11

Section One: What Is Project Portfolio Management, and Why Do We Need It? 13

1.1 Why Do We Need Project Portfolio Management? 15

1.2 What Is Project Portfolio Management? 22

Section Two: The Fundamentals of a Project Portfolio

Management Process 29

2.1 Selecting Projects for the Pipeline 33

2.2 Maintaining the Pipeline 42

2.3 Executing Project Portfolio Management 52

2.4 Tools for Project Portfolio Management 59

2.5 Implementing Project Portfolio Management 78

Section Three: The Finer Points of Project

Portfolio Management 85

3.1 Defining PPM: A Bridge or a Hub? 89

3.2 A Prequalification Process for Selecting Projects for the Portfolio 93

3.3 The Impact of Uncertainty on Projects and the Portfolios 99

3.4 Is There a Gorilla in Your Portfolio?

Turning Opportunity into Value 109

3.5 Work Breakdown Structures for Risk and Strategies 115

3.6 An Introduction to Earned Value Analysis 123

Part Two: Contributed Chapters and Case Studies 133

Section Four: PPM Techniques and Issues: Portfolio Planning 135

4.1 Linking Strategy and Project Portfolio Management 137 K. C. Yelin

4.2 How to Determine the Value of a Project 146

Ray Trotta, Christopher Gardner

4.3 Using the Analytic Hierarchy Process to Improve Enterprise Project Portfolio Management 155

James Devlin

4.4 The Efficient Frontier Technique for Analyzing

Project Portfolio Management 176

Mike Gruia

Section Five: PPM Techniques and Issues:

Organizing and Implementing 183

5.1 Making the Case for Project Portfolio Management 185 Clifford B. Cohen, Randall L. Englund

5.2 The Role of Executives in Effective Project Portfolio Management 217 K. C. Yelin

5.3 Project Offices Are Key Components of

IT Governance 228

Matt Light

Section Six: PPM Applications: Information Technology 233

6.1 A Summary of First Practices and Lessons Learned in Information Technology Portfolio Management 235

Federal CIO Council, Best Practices Committee

6.2 The Backbone System of IT Management and Governance: IT Management and Governance 101 267

David Hurwitz

Section Seven: PPM Applications: New Product Development 279

7.1 A Stage-Gate® Idea-to-Launch Framework for Driving New Products to Market 281

Robert G. Cooper

7.2 Portfolio Management for Product Innovation 318

Robert G. Cooper

Section Eight: Applications: PPM for Theory of

Constraint Advocates 355

8.1 Applying the Theory of Constraints to

Project Portfolio Management 357

Larry Leach

Section Nine: Case Studies 391

9.1 Managing Your Technology Pipeline Portfolio Management Process and Its Evolution over Time 393

Rebecca Seibert

9.2 Using PPM to Ease the Hewlett-PackardCompaq Merger 422

Don Kingsberry

9.3 Developing a PPM Capability at America Online 447

Rich Dougherty

9.4 EW Scripps: A Media Giant's Portfolio Management Solution 456

Vanessa McMillan

Section Ten: What Others Are Saying About PPM 461

10.1 Beyond the Triple Constraints: Developing a

Business Venture Approach to Project Management 463

Robert J. Graham, Dennis Cohen

10.2 From Overload to Productivity via Systematic

Decision Making 474

James Schlick, Andrew Longman

10.3 The Seven Habits of Highly Effective IT Portfolio Management Implementations 482 Gil Makleff

10.4 Project Portfolio Management Basics 492

PMI Knowledge and Wisdom Center

10.5 Integrating Project Portfolio Management with Project Management Practices to Deliver Competitive Advantage 496 James S. Pennypacker, Patrick Sepate

Notes 507

Index

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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