Demystifying Portfolio Management: The ABCs of Portfolio Management
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About this ebook
The book begins by demystifying the very essence of portfolio management - doing the right work. Gone are the days of merely managing projects and programs; now, it's about choosing the perfect mix of initiatives that align with your company's strategic vision. Whether you're leading a technical firm or a government entity, understanding how to optimize your portfolio's composition is the secret to sustainable success.
Each chapter takes you deeper into the heart of portfolio management. From the inception of a portfolio idea to its execution and continuous optimization, you'll embark on a transformative learning experience.
Are you ready to unleash your inner portfolio management guru? "Demystifying Portfolio Management" is your invitation to dive headfirst into the world of portfolios and emerge as a master navigator of business success. Whether you're a seasoned professional seeking new insights or a budding entrepreneur ready to shape your company's destiny, this book is your compass to lead you towards unparalleled achievements.
Join us on this exciting adventure and demystify the art of portfolio management to transform your organization and take it to unprecedented heights. Get ready to set sail into the seas of innovation, risk management, and strategic brilliance. Your journey to portfolio excellence starts now.
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Book preview
Demystifying Portfolio Management - Phill Akinwale
DEMYSTIFYING PORTFOLIO MANAGEMENT EBOOK
Published by Praizion Media
P.O Box 22241, Mesa, AZ 85277
E-mail: [email protected]
www.praizion.com
Author
Phillip Akinwale, MSc, OPM3, PMP, PMI®-RMP, PMI®-SP, PMI®-ACP, CAPM
Copyright © 2023 Praizion Media
All rights reserved. No part of this publication may be reproduced, transmitted in any form, or by any means, including but not limited to electronic, manual, mechanical, recording, photograph, photocopy, or stored in any retrieval system, without the prior written permission of the publisher.
ISBN 978-1-934579-78-7
The author and publisher make no warranties or representation that the use of this publication will result in passing the PMP® exam or about the completeness and accuracy of the contents. The author and publisher accept no liability, losses, or damages of any kind caused or alleged to be caused directly or indirectly by this publication.
PMI®®, the PMI®® logo, PMBOK®, and PMP® are registered marks of the Project Management Institute, Inc. Project Management Institute,
Printed in the United States of America
DEMYSTIFYING PORTFOLIO MANAGEMENT
The ABCs of Portfolio Management
Phill Akinwale, OPM3, PMP, PMI-ACP, CSM, PSM
Contents
Introduction
Chapter 1: Introduction to Portfolio Management
Chapter 2: The Portfolio Life Cycle
Chapter 3: Portfolio Management Performance Domains
Chapter 4: Roles and Responsibilities of Portfolio Managers
Chapter 5: Organizational Structures and Frameworks for Portfolio Management
Chapter 6: Project Selection and Prioritization in Portfolio Management
Chapter 7: Portfolio Stakeholder Engagement and Communication
Chapter 8: Portfolio Value Management
Conclusion
Introduction
Portfolio management, often the unsung hero in the triumvirate of projects, programs, and portfolios, acts as the strategic orchestrator of the organization's resources. It is the aggregation of projects, programs, and operational work, crafted to serve the overarching strategic objectives of a company. View it as an intricate tapestry of efforts, woven together to maintain business continuity and to advance its strategic goals.
While project and program management are about 'doing things right' - adhering to best practices, and delivering outcomes within the constraints of scope, time, and cost - portfolio management is about 'doing the right things'. It's not merely linguistic artistry but the fundamental ethos of portfolio management that differentiates it from its counterparts.
Portfolio management is the thoughtful curation of work undertaken by an organization. It involves discerning choices about which projects and programs align best with corporate strategy. In the context of a tech firm, it implies understanding the optimal mix of software and hardware development projects, or for a construction company, deciding the right balance between government infrastructure projects and private commercial projects. These decisions play a critical role in driving the company's strategic pursuits.
Portfolio management transcends the science of hard data and analytics; it is as much an art form that requires a nuanced understanding of the marketplace and industry trends. It is about proactively responding to the pulse of the external environment, strategically assessing opportunities, and judiciously mitigating threats. It necessitates balancing the portfolio to optimize risk and reward, striving for a mix that delivers the highest value.
Indeed, portfolio management is a grand balancing act - a dance between strategy and execution. It is a study in adaptability and foresight, a strategic endeavor that is as dynamic and fluid as the business landscape itself. Through the prism of portfolio management, companies can strive to ensure that every effort, every project, every program contributes harmoniously to the symphony of organizational success. It is both the compass and the map, guiding the enterprise through the intricate labyrinth of today's business world.
Portfolio management is the art of