12/5/14 Portfolio, Program & Project Mgmt and PMIs Supporting Credentials & Standards Notes
Presented by: Brian Grafsgaard, Quality Business Solutions (QBS), bgrafsgaard@qbs.com
Introduction
The number of PMP’s has really grown over the years.
 Who Is a: PMP? PgMP? PfMP? Other?
 Who is interested in Pursuing?
 Who would rather answer after I describe them?
The Road Ahead
 QBS / Speaker Introduction
 Organizational Performance Ecosystem
 Portfolio Management
 Program Management
 Project Management
 Associated PMI Credentials (and Standards)
 Program Management Professional (PgMP)®
 Portfolio Management Professional (PfMP)®
 Project Management Professional (PMP)®
 not covered during presentation
 How Credentials Are Developed
Speaker Biography – Brian Grafsgaard
Director of Professional Services at QBS with 25+ Yrs Experience Leading Innovative People, Process &
Technology Solutions:
 PMP® Certification—Oct. 1998 (#12027)
 PgMP® Certification—June 2007 (#1!!!)
o Pilot Participant & Exam Developer
o PgMP® Panel Review Committee (PRC)
 PfMP® Certification—Feb. 2014 (#73-T)
o Pilot Participant & Exam Developer
Introduction
 Actively Involved in PMI
o The Standard for Program Management–Third Edition (2013)
o Requirements Management Practice Guide–First Edition (2015)
o PMI Change Management eSeminars Instructor
 Program Management: A Life Cycle Approach
o Chapter 21: Portfolio, Program, & Project Management As Enablers of Innovation (2012)
o Taylor & Francis Group (Dr. Levin, editor)
Organizational Performance Ecosystem
A program is comprised of many projects that need to be
managed and facilitated on an ongoing basis, but there’s also a
Portfolio piece to determine the right needs, and Change
Management:
 Confirmed by PwC Global Survey (2014)
o Portfolio Management: Optimize initiatives to
maximize return – need to manage your investments
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o Program / Project Management
o Benefits Realization
o Change Management: There’s a whole science on change management
o Talent Management: Part of this is having Portfolio Managers
A Brief Word on Talent Management: Consider competencies in following context – they change and
grow over time, and have a whole different set of skills. What are the skills needed and where do they
fit in the business strategy?
o Technical Project Management
o Leadership
o Strategic & Business Management
Dimensions apply to all roles and across your career:
o Tactical to strategic
A Brief Word on Change Management – Key Concepts:
o Delivery brings the right ideas to fruition
o Adoption helps realize intended benefit
Incremental to Transformational – Newsletters, training, brownbag lunches to provide sneak-peaks &
information to familiarize users with what’s coming in a new system:
o Change Management effort must be recognized at portfolio, program and project level
o Life cycle parallels program benefits management life cycle
Change Management Life Cycle:
o Formulate change – Define scope of change & assess readiness
o Plan change – Define change approach and plan for transition
o Implement Change – Prepare organization for change and deliver project results
Manage Change Transition:
o Transition results into business operations and foster adoption
Sustain Change:
o Communicate & consult with stakeholders and measure benefits realization
o Sustainment may result in new programs / projects
Success Begins with Portfolio Management
It’s all about how you vet the ideas to determine which will be done. The purpose of the portfolio is to realize
benefits and provide business value:
 A portfolio should be a true measure
of an organization’s intent, direction,
and progress.
 Every organization has this even if it’s
at a zero level maturity – there’s
hidden work going on as users go
directly to the developers to get what
they need done.
 Governance needs to be put into
place so that IT isn’t working on the
wrong stuff.
Portfolio Management
 Portfolio Management helps
organizations do the right work by managing alignment and investment of resources.
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Balances investment of organization’s (limited) financial resources and talent on the right initiatives…
Everything should be aligned with your business strategy – don’t even spend time vetting it if it
doesn’t.
Portfolio Management Capability
Every request goes through the top of the funnel. You need visibility to what all of the other groups are doing.
Portfolio Management Knowledge Areas
 Portfolio Strategic management
o Develop portfolio strategic plan, portfolio charter, and portfolio roadmap
o Align portfolio to organizational strategy
 Portfolio Governance management
o Portfolio oversight processes & activities
o Plan for definition, optimization, and authorization of portfolio
 Portfolio Performance Management
o Have a Steering Committee to determine optimal mix and sequencing of proposed project to best
achieve strategy
o Manage souring of key resources
 Portfolio Communication Management
o Develop portfolio communication management plan
o Manage portfolio information
 Portfolio Risk Management – Positive risk (opportunity) is key benefit of Portfolio and Program
Management:
o Assess & analyze portfolio risks
 Mitigate threat that can adversely impact portfolio
 Critical where interdependencies exist between high-priority portfolio components, cost of
portfolio component failure is significant, or risks from one portfolio component affect another
 Capitalize on potential opportunities
 Key Outcomes – Know where you can slot the projects and when resources are needed – have a map
of what skills are needed when:
o Selection & prioritization criteria and process defined – determine if it’s a candidate
o Prioritized program / projects – will it serve customer & business needs better
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o Resources allocated to program / projects
o Ability to monitor portfolio performance
o Portfolio roadmap to establish sequence
Program & Project Management
For a program you may have to forgot about the small project details for a while and just get the solution out
there, but that’s not easy for a project manager – you need to meet the overall business needs.
 As a Program Manager you don’t manage the scope of the projects, but rather the dependencies
across the projects in the program:
o What are the benefits and when will they be realized?
o Are there issues to be addressed that will have a ripple effect across projects in the program?
 Program & Project Mgmt help organizations do the work right by managing & optimizing execution:
o Provides foundation to effectively manage execution and delivery of initiatives and realize intended
benefits.
o Balances work and resources between initiatives.
Program Management
 Program Management aligns interdependent projects to achieve program goals and enables integrated
& optimized cost, schedule, & effort.
 Enables prioritization & optimization of resources across component projects, while maintaining
strategic alignment.
Program Management Capability
 Coordinates management & pacing of components projects
 Identifies synergies & economies of scale across component projects
 Optimizes scope / cost / schedule across component projects
 Provides integrated risk management across component projects (positive and negative)
Program Management Knowledge Areas
Program level risks can be disastrous because they affect all of the projects in the program:
 Program Strategy Alignment
o Define and align program vision, mission & objectives with organization strategy (and portfolio)
o Transform program strategy to program roadmap and resulting benefits / capabilities
 Program Benefits Management
o Ensure that organization will realize & sustain intended benefits
o Manage benefits across program roadmap
 Program Stakeholder Engagement
o Identify, analyze, engage, & communicate to facilitate adoption
o Determine how program outcome & benefits will impact stakeholders (internal and external)
 Program Governance
o Monitor program performance & alignment with strategy
o Resolve program level issues, risks, & change
 Program Life Cycle Management
o Optimize cost / schedule / resources across component projects
o Initiate, plan, execute, & close component projects and related work (iterative manner)
o Manage interdependencies between projects
Project Management
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Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet
project requirements [within constraints of time, cost, scope, quality and proactive management of risk].
 In context of portfolios and programs, project results are the building blocks of benefits realization.
 There are constraints – you don’t get unlimited resources, time, money… quality can suffer. There’s
always one piece of the triangle that can’t change. Know what that is and then work from there.
Project Management Capability
Portfolios & Programs don’t build anything – projects are where the “magic” is:
 Manages discrete efforts to deliver expected benefits through creation of quality products, services, or
capabilities within defined constraints
 Maintains alignment of results with program & organizational strategy
 Addresses uncertainty & risk through proactive risk management across project life cycle
Project Management “Life Cycle”
The Project Manager is the carpenter or builder – more tactical in nature:
Right Skills are Critical for All Three Roles
Supporting PMI Credentials & Standards
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If Nothing Else…
Credentials force you to learn the science:
 You must know the standards and related material
 Profession requires that you practice the Art:
o Each discipline is an art grounded in science
o Exams are becoming more experienced-based
PMI Offers 8 Complimentary Credentials
Four Supporting Credentials:
1. PMI Risk Management Professional (PMI–RMP)®
2. PMI Scheduling Professional (PMI–SP)®
3. PMI Agile Certified Practitioner (PMI–ACP)®
4. NEW: PMI Professional in Business Analysis (PMI-PBA)®
Four Core Credentials:
1. Certified Associate in Project Management
(CAPM)®
2. Project Management Professional (PMP)®
3. Program Management Professional (PgMP)®
4. Portfolio Management Professional (PfMP)®
Program Management Professional (PgMP)®
 Designed for those who manage multiple, complex
projects to achieve strategic and organizational
results
 Recognizes demonstrated experience, skill and
performance in oversight of multiple, related
projects that are aligned with organizational
objectives
 Requires Project & Program Management
experience
Portfolio Management Professional (PfMP)®
 Designed for those who manage and align a
portfolio of projects and programs to realize
organizational strategy and objectives
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Recognizes advanced experience, skill, and performance in coordinated management of portfolios to
achieve organizational objectives
Does Not Require Project & Program Management experience
Three Step Evaluation Process
1. Application Review (validate eligibility)
 Application / Experience Verification (details!)
o Portfolio or Program description and contact info for client, manager, or primary stakeholder
o 4 or 7 non-overlapping years of experience + 8 years business experience for PfMP
 PgMP: Also include project description and contact info for client, manager, or primary stakeholder for
each project
o 4 non-overlapping years of experience
2. Panel Review (validate experience)
 Portfolio / Program Management Experience Assessment by Panel Review Committee (PRC)
 Based on 5 Experience Summary Statements
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Take time to understand what is being asked!
o Look at Exam Spec to help understand “domain”
 Focus on I, not we
o Need to know what you did, not the team
 Focus on how, not what
o Don’t use the 500 words describing the outcome, summarize how you arrived at the outcome
 Okay to frame the responses with situation
 PgMP Example: Strategic Program Management
o Option A: Developed program justification and business case in alignment with the organization’s
strategic plan
o Option B: Monitored the business environment, program goals, and benefits realization plan in
order to ensure the program remains aligned with organization’s strategic objectives
 PfMP Example: Strategic Alignment
o Option A: Identifying and prioritizing portfolio criteria and evaluating portfolio component
priorities based on the organization’s strategic goals
o Option B: Creating and/or updating a portfolio roadmap based on the organization’s strategic goals
and objectives
3. Examination
 Exam Questions Are Primarily Scenario Based
o Establish a “Situation” and Ask One of More Questions About It
o Weren’t Allowed to Create “Distracters”
 Referenced to Current Portfolio/Program Mgmt Standards as well as other books
o More “Experiential” Based than typical certification exams (application of knowledge)
 Exam will likely take all 4 hours!
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o It’s a lot to read and “process”
o Need to put yourself in that situation
o Take multiple passes if you need to
3 Attempts to Pass within 1 Year ($500 per retry)
o If you don’t pass you must wait a year and start all over again
Review associated credential handbook:
o Review associated Examination Specification
o Test yourself with Sample Questions (if available)
o Study associated Standard & PMBOK® Guide
o Read current titles in that discipline (eReads)
o Enroll in a formal study course or review self-study books, or form a study group
Provide Context to Credentials
Market Surveys determined that there was a need for the PgMP. Those who wrote the exam (pilot group)
determine the cutoff scores. They’re constantly refreshing the exam database.
 Credential Developed if Market & Need Exists
o Role Delineation Study Becomes Basis for Exam Specification
 Exam Developed from Specification & Supporting Materials by SMEs
o Exam & Entire Credential Process Is Piloted
 Process Refined & Passing Score Established
 Credential Is Released to Public
o Credential is Marketed and Handbook is Published
 Credential Enters Continued Care Phase
o Exam Development Sessions Continue
o SMEs Continually Review Process & Results
o Credentialing Process & Supporting Standards Continue to Evolve
Comparative Overview of Project, Program & Portfolio Management
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