Slides 4 December Ray Mead - Standard For Program Management
Slides 4 December Ray Mead - Standard For Program Management
Slides 4 December Ray Mead - Standard For Program Management
“PMI” is a registered trade and service mark of the Project Management Institute, Inc.
©2012 Permission is granted to PMI for PMI® Marketplace use only.
Advances and Learnings
Domain focus
Process focus
Program Governance
Presentation Title
Program Life Cycle Evolution
October, 2006 October, 2008 January, 2013
Life Cycle Phases Life Cycle Phases Life Cycle Phases Life Cycle sub-phases
Program Transition
Closing the Program Program Closure Program Closure
Program Closeout
Presentation Title
Important Complements To The Text:
Appendices
Presentation Title
The Standard for Portfolio
Management – Third Edition
Update
“PMI” is a registered trade and service mark of the Project Management Institute, Inc.
©2012 Permission is granted to PMI for PMI® Marketplace use only.
PFM3 Team Vision
Mike Reed
(US-OH) Elaine Lazar
Vice Chair (US-PA)
PMI Standards
Specialist
•Formally initiate •Propose revised •Initial draft/approach to •Final Peer/Core •MAG and
project; sign charter KAs/PGs Process Chapters (April ) Committee Review Consensus Body
(Aug) Map •Integrate KAs/PGs into (Aug-Sept) Review
•Select core •Conduct Standards chapter content (Mar- •Finalize Standard to •Public
committee (Sept) Program Working May) PMI (incl Diagrams, Exposure Draft
•Select sub-team Session Review & •Finalize Chapter drafts Examples, Graphics) Dec 14 2011 –
committee (Sept – Feedback (Jun) Sept 2011 Jan 13 2012
Oct) •Develop KAs/PGs •Peer/Core Committee •Final
content – CHP 3 Review of Chapter Adjudication April
Initiating
Initiating (Processes) as Drafts (Jul) 2012
standalone document •Publication Jan
(Oct-Feb) 2013
•Peer/Core
Planning
Planning Committee
TODAY
Review/Finalization
(Mar)
Executing
Executing
Core Definitions
• Portfolio
– collection of projects, programs, and other work that is grouped together to
meet organizational strategy and objectives
• Portfolio management
– interrelated organizational processes by which an organization prioritizes,
selects, and allocates its limited internal resources to best accomplish
organizational strategy and objectives
• Portfolio manager
– Focus on doing the right work, not on doing the work right; organizational
scope
– Continuous monitoring of broader internal and external environment, strategic
changes, and aggregate performance, risk, and resource allocation
Portfolio Management Context
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PFM3 Knowledge Areas –
Processes required to…
Strategic Align to the strategic objectives by validating the
Management strategic plan, and defining the portfolio structure and
roadmap
Governance Develop the portfolio management plan; define,
Management optimize and authorize portfolio
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PFM3 Process Map
Process Groups
Knowledge Areas Authorizing and Controlling
Defining Process Group Aligning Process Group
Process Group
4.1 Develop Portfolio 4.4 Manage Strategic
Strategic Plan Change
Portfolio Strategic 4.2 Develop Portfolio
Management Charter
4.3 Define Portfolio
Roadmap
5.1 Develop Portfolio
5.3 Optimize Portfolio 5.4 Authorize Portfolio
Portfolio Governance Management Plan
Management 5.5 Provide Portfolio
5.2 Define Portfolio
Oversight
6.1 Develop Portfolio
6.2 Manage Supply and
Performance Management
Portfolio Performance Demand
Plan
Management
6.3 Manage Portfolio Value
Aligning Processes
Foundational Standards - Table of Contents
Comparison
PMBOK® Guide—Fifth Edition The Standard for Program The Standard for Portfolio
Management - Third Edition Management - Third Edition
1 – Introduction Chapter 1. Introduction 1 - Introduction
2 – Organizational Influences and Project 2 - The Portfolio Management Overview
Life Cycle and Organization
3 – Project Management Processes 3 - Portfolio Management Process
Groups
4-13 – Knowledge Area sections Chapter 2-8. The Standard for Program 4-8 Knowledge Area sections
Management
Five Program Management
Performance Domains and Program
Management Supporting Processes
Annex A1 – The Standard for Project No Program Management Process Annex A1 – The Standard for Portfolio
Management of a Project Groups or Knowledge Areas Management
Appendices Appendices
Appendix A through E