Your portfolio management efforts won't get far if the execs don't play the right role. This presentation by K.C. Yelin outlines a strategy for leveraged executive involvement that compares the role of a project portfolio manager to that of a "financial portfolio manager" and discusses how best to adapt that model to your organization's project office.
What this is
This presentation, contributed by K.C. Yelin of ICS Group (www.icsgrp.com), compares the role of a project portfolio manager to that of a "financial portfolio manager," and the executive to that of a client with a personal financial portfolio. The client communicates his financial goals and often decides the targeted allocation of assets, but does not select the individual investments in each asset category. The financial portfolio manager shares the performance of the portfolio relative to the client's goals and counsels the client, allaying fears of situational ups and downs and keeping the focus on the longer term.
Why it's useful
For PMs who need to pry their executives out of day-to-day decision-making and back up to the 10,000-foot view, or executives who are trying to coach their PMs to let them out of the ground-level decisions, this presentation provides valuable insights and strategies. Executives need to be aligned with our portfolio management approach, and contribute to decision-making in the right way, so that new projects are championed and interjected atop our current portfolio commitments in alignment with our portfolio strategy. The approach outlined in this presentation draws useful, intuitive comparisons to management of a financial portfolio -- an analogy that most people, certainly most executives, can easily appreciate -- and discusses how to adapt the best of the financial portfolio-client model to the project portfolio-executive scenario.
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