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PMI-NIC
39
The Standard for Program Management 3rd Edition Overview Emanuele Zanotti, PMP, PRINCE2 Practitioner Nexen Business Consultants April 29 th , 2013
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Page 1: Pmi-nic 2013 04 29 Webinar - New Pmi

The Standard for Program

Management –

3rd Edition

Overview

Emanuele Zanotti, PMP, PRINCE2 Practitioner

Nexen Business Consultants

April 29th, 2013

Page 2: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

2P

ag.

• Program Management Key Concepts

• The Standard for Program Management –

2nd Edition Overview

• The Standard for Program Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 3: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

3P

ag.

What is a program?

Program Management Key Concepts

Page 4: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

4P

ag.

Program

A group of related projects, subprograms and

program activities that are managed in a coordinated

way to obtain benefits not available from managing

them individually.

Benefit

A benefit is an outcome of actions, behaviors, products, or

services that provide utility to the sponsoring organization as

well as to the program’s intended beneficiaries or stakeholders.

Program Management Key Concepts

Source: PMI - The Standard for Program Management, 3rd Edition, 2012

Page 5: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

5P

ag.

Program Management Key Concepts

Source: PMI - The Standard for Program Management, 3rd Edition, 2012

Page 6: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

6P

ag.

2006

1° edition 2° edition 3° edition

2008 2012

History

Page 7: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

7P

ag.

• Program Management Key Concepts

• The Standard for Program Management –

2nd Edition Overview

• The Standard for Program Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 8: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

8P

ag.

The Standard for Program Management 2nd Edition

Process Groups and Knowledge Areas

47 processes

Process-oriented framework

12 Knowledge Areas 5 Process Groups

Communication

Risk

Procurement

Financial

Stakeholder

Governance

Integration

Scope

Time

Cost

Quality

HR

Initiating

Planning

Executing

Monitoring & Controlling

Closing

Page 9: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

9P

ag.

• Program Management Key Concepts

• The Standard for Program Management –

2nd Edition Overview

• The Standard for Program Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 10: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

10

Pag.

The Standard for Program Management 3rd Edition

Framework Overview

Domain-oriented framework

Performance Domains Supporting Processes

Tasks and competencies that

represent knowledge elements

and activities carried out by an

individual to address a specific

program management area

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The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

The Standard for Program Management 3rd Edition

Framework Overview

Program StrategyAlignment

Program Benefits

Management

Program Governance

Program Lifecycle

Management

Program Stakeholder Engagement

Performance Domains Supporting Processes

9KNOWLEDGE AREAS

36 PROCESSES

Page 12: Pmi-nic 2013 04 29 Webinar - New Pmi

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The Standard for Program Management 3rd Edition

Performance Domains

• Every program requires some activity in each of these

performance domains

• Run concurrently throughout the duration of the

program

• Include the work performed by the program manager

• What and when depend on the nature and the

complexity of the program

• Work within these domains is iterative in nature and is

repeated frequently

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The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

The Standard for Program Management 3rd Edition

Program Strategy Alignment

Activities associated with the integration and development of

business strategies and organizational goals and objectives.

Program

Business Case

Program

Plan

Program

Roadmap

• Cost benefits analysis

• Alternative solutions

• Risks

• Business and

operational impacts

• Program Vision

• Program Mission

• Program Goals and

Objectives (outcomes

and benefits)

• Program Success

Criteria

• Chronological

representation in a

graphical form

• Key dependencies

between major milestones

• Relationship between

program activities and

expected benefits

Page 14: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

Benefit

Identification

The Standard for Program Management 3rd Edition

Program Benefits Management

Defining, creating, maximizing, delivering, and sustaining the

benefits provided by the program.

Benefits

Analysis and

Planning

Benefits

Transition

Benefits

Delivery

Benefit

Sustainment

• Business

benefits

identification

• Map benefits

to program

• Define

benefits

metrics

• Benefit

Realization

Plan

• Monitor

components

• Report

benefits

• Consolidate

coordinated

benefits

• Transfer

ongoing

responsibility

• Ensure

continued

realization of

benefits

Page 15: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

15

Pag.

Stakeholder

Identification

The Standard for Program Management 3rd Edition

Program Stakeholder Engagement

Understanding stakeholder needs and expectations, analyzing

impact of the program on stakeholders and gaining stakeholder

support.

Stakeholder

Engagement

Planning

Stakeholder

Engagement

� Engagement vs.

management

� Resistance to change

� More than communication

� Organizational change

management

� Leadership

� Negotiation

Page 16: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

The Standard for Program Management 3rd Edition

Program Governance

Systems and methods by which a program is monitored, managed, and supported by its sponsoring organization.

� Program governance board

� Executive-level stakeholders

� Program governance plan

� Decision-making

� Component governance

� Business Case

� Program Charter

� Funding

� Reviews (Phase Gate & Health Checks)

� PgMO, PgMIS, PgKMS

Page 17: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

The Standard for Program Management 3rd Edition

Program Lifecycle Management

Managing all of the program activities related to program

definition, program benefits delivery and program closure.

BUSINESS STRATEGY

Program Definition

Program Formulation

Program Preparation

Program Benefits Delivery

Program Closure

Component Planning and Authorization

Component Oversight and Integration

Component Transition and Closure

Program Transition

Program Closure

STRATEGIC OBJECTIVES

VALUE

DELIVERY

Page 18: Pmi-nic 2013 04 29 Webinar - New Pmi

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• Enable a synergistic approach for the purpose of delivering program benefits.

• Definitions and terminology similar to the project-level; considerations of higher level to reflect a program perspective

The Standard for Program Management 3rd Edition

Supporting Process

Program Communications Management

Program Financial Management

Program Integration Management

Program Procurement Management

Program Quality Management

Program Resource Management

Program Risk Management

Program Schedule Management

Program Scope Management

NEWNEW Stakeholder

Governance

Cost

HR

Page 19: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

19

Pag.

• Program Management Key Concepts

• The Standard for Program Management –

2nd Edition Overview

• The Standard for Program Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 20: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

20

Pag.

The Standard for Program Management 3rd Edition

Main changes from 2nd Edition

• Return to the domain-orientation of the first edition

� All processes narratively described in only one chapter

• An alignment to, and recognition of, other standards in

program management

• Modified lifecyle (now dealt with in a dedicated performance

domain)

• Harmonization with other PMI standards (concepts, lexicon,

layout, etc.)

Page 21: Pmi-nic 2013 04 29 Webinar - New Pmi

21

The Standard for Portfolio

Management –

3rd Edition

Overview

Emanuele Zanotti, PMP, PRINCE2 Practitoner

Nexen Business Consultants

April 29th, 2013

Page 22: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

22

Pag.

• Portfolio Management Key Concepts

• The Standard for Portfolio Management –

2nd Edition Overview

• The Standard for Portfolio Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 23: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

What is a portfolio ?

What is portfolio management ?

Portfolio Management Key Concepts

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Pag.

Portfolio

A portfolio is a component collection of programs,

projects, or operations managed as a group to

achieve strategic objectives

Portfolio Management Key Concepts

Source: PMI - The Standard for Portfolio Management, 3rd Edition, 2012

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• The portfolio components may not necessarily be

interdependent.

• A portfolio may consist of a set of past, current and

future portfolio components.

• An organization may have more than one portfolio,

each addressing unique organizational strategies and

objectives.

Portfolio Management Key Concepts

Source: PMI - The Standard for Portfolio Management, 3rd Edition, 2012

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Pag.

• Portfolio management includes identification,

categorization, evaluation, selection of components to

best accomplish organizational strategies.

• Portfolio management balances conflicting demands

between programs and projects by allocating resources

(e.g. people, funding) based on organizational priorities

and capacity.

Portfolio Management Key Concepts

Source: PMI - The Standard for Portfolio Management, 3rd Edition, 2012

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The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

Program and project managers focus on …

“doing work right”

Portfolio managers focus on …

“doing the right work”

Portfolio Management Key Concepts

Page 28: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

28

Pag.

2006

1° edition 2° edition 3° edition

2008 2012

History

Page 29: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

29

Pag.

• Portfolio Management Key Concepts

• The Standard for Portfolio Management –

2nd Edition Overview

• The Standard for Portfolio Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 30: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

The Standard for Portfolio Management 2nd Edition

Process Groups and Knowledge Areas

Identify Components

Categorize Components

Evaluate Components

Select Components

Portfolio Risk

Management

Portfolio

Governance

Aligning Monitoring & Controlling

Prioritize Components

Balance Components

Authorize Components

Identify Portfolio Risks

Analyze Portfolio Risks

Develop Portfolio Risk Response

Review and Report Portfolio

Performance

Monitor Business Strategy Changes

Communicate Portfolio Adjustment

Monitor and Control Portfolio Risks

KNOWLEDGE AREAS

PROCESS GROUPS

Page 31: Pmi-nic 2013 04 29 Webinar - New Pmi

The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

31

Pag.

• Portfolio Management Key Concepts

• The Standard for Portfolio Management –

2nd Edition Overview

• The Standard for Portfolio Management –

3rd Edition Overview

• Main Changes Highlight

Agenda

Page 32: Pmi-nic 2013 04 29 Webinar - New Pmi

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Pag.

Portfolio Strategic Plan

Portfolio Charter

Portfolio Roadmap

Portfolio

Portfolio Manag. Plan

Portfolio vision, strategy alignment, approach, prioritazion model, available funds and resources.

High-level scope, high-level timelines, success criteria, andmain stakeholders.

Approach for managing the portfolio (governance, risk,performance, change, communication, procurement,compliance)

Components key milestone and dependencies in acronological fashion.

Collection of projects, programs and other work that aregrouped together to facilitate the effective management ofthat work to meet strategic business objectives

The Standard for Portfolio Management 3rd Edition

Key Portfolio Management Deliverables

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Defining

Aligning

Authorizing and

Controlling

How the organizational strategy will be implemented in aportfolio (portfolio strategic plan, roadmap, charter andmanagement plan)

The Standard for Portfolio Management 3rd Edition

Process Groups

Manages and optimizes the portfolio (componentsevaluation, prioritization, selection, modification, orelimination)

Authorize portfolio components and provides ongoingportfolio oversight.

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The Standard for Portfolio Management 3rd Edition

Process Groups Interaction

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Strategic

Management

Governance

Management

Communication

Management

Risk Management

Performance

Management

Ensures alignment with the organizational strategy

Includes portfolio oversight and support of governancebody decision-making activities.

Manages resource allocation and tracks portfolioperformance and value realization.

Develops the portfolio communication management planand manage portfolio information.

Develops the portfolio risk management plan and manageportfolio risks.

The Standard for Portfolio Management 3rd Edition

Knowledge Areas

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The Standard for Portfolio Management 3rd Edition

Processes

Develop Portfolio Strategic Plan

Develop Portfolio Chapter

Define Portfolio Roadpmap

Develop Portfolio Management

Plan

Define Portfolio

Develop Portfolio Performance

Management Plan

Develop Portfolio

Communication Management

Plan

Develop Portfolio Risk

Management Plan

Manage Strategic Changes

Portfolio Risk

Management

Portfolio

Communication

Management

Portfolio

Performance

Management

Portfolio

Governance

Management

Portfolio Strategic

Management

Optimize Portfolio

Manage Supply & Demand

Manage Portfolio Value

Manage Portfolio Information

Manage Portfolio Risks

Authorize Portfolio

Provide Portfolio Oversight

Defining Aligning Authorizing & Controlling

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The Standard for Portfolio Management 3rd Edition

Main changes from 2nd Edition

• Concepts and themes present in the Second Edition but not

described as processes have been expanded

� more KAs, PGs and processes

• Steps for implementing a portfolio management process are

provided

• Harmonization with other PMI standards (concepts, lexicon,

layout, etc.)

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The new PMI Standard for Program and Portfolio Management - Emanuele Zanotti , PMP – April 29th, 2013

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Pag.

The Standard for Portfolio Management 3rd Edition

Main changes from 2nd Edition

Framework structural changes

• 3 Knowledge Areas have been added (Portfolio Strategic

Management, Portfolio Performance Management, Portfolio

Communication Management)

• 1 Process Group was added (Defining) and 1 renamed

(Monitoring and Controlling � Authorizing and Controlling)

Page 39: Pmi-nic 2013 04 29 Webinar - New Pmi

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Contacts

Emanuele Zanotti

Nexen Business Consultants

email: [email protected]


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