– Mohammed Mansoor –
PgMP, PMP, RMP, SP, ITILV3 (PfMP Pilot participant)
Portfolio
Management Professional (PfMP) is the latest certification offering from the
PMI Stable. The PfMP pilot phase started on 20 December 2013 and ended on 28th
February 2014 and we had more than 20 global participants. The results of the
pilot phase are expected by the Quarter – 2 of 2014.
What is a portfolio?
A portfolio
is a collection of programs, projects and/or operations managed as a group. The
components of a portfolio may not necessarily be interdependent or even
related—but they are managed together as a group to achieve strategic
objectives.
What is portfolio management?
Portfolio management
is the centralized management of one or more portfolios, which includes
identifying, prioritizing, authorizing, managing, and controlling projects,
programs and other related work to achieve specific strategic business
objectives.
How does portfolio management differ
from project management and program management?
Portfolio,
program and project management are all aligned and driven by organizational
strategies. However, each one contributes differently to the achievement of
strategic goals.
Why is portfolio management
important?
Because it
supports the organization’s strategic goals and, ultimately, its bottom line.
Portfolio management is critical to organizing and prioritizing projects and
programs and ensuring that the appropriate financial support is being allocated
in support of those goals.
What is the role of the portfolio
manager?
The
Portfolio Manager is responsible for monitoring and managing assigned
portfolios by:
Ø
Establishing
and guiding the selection, prioritization, balancing, and termination processes
for portfolio components to ensure alignment with organizational strategy.
Ø
Providing
key stakeholders with timely assessment of portfolio and component performance.
Ø
Assisting
decision makers with the review, reprioritization, and optimization of the
portfolio.
Ø
Ensuring
timely and consistent communication to stakeholders on progress, impacts, and
changes associated with management of the portfolio.
Ø
Participating
in program and project reviews to reflect senior level support, leadership, and
involvement in important matters.
How does the PfMP credential differ
from the Program Management Professional (PgMP)® credential?
How does the PfMP credential differ
from the Project Management Professional (PMP)® credential?
Who should apply for the PfMP
credential?
Ø
Practitioners
who use portfolio management and who are looking to validate their knowledge,
skills, and experience.
Ø
Project
portfolio managers with 4 to 7 years of portfolio management experience and a
minimum of 8 years of professional business experience