Page 371 - Global Project Management Handbook

18-12 MANAGEMENT OF THE PROJECT-ORIENTED COMPANY
18-12
MANAGEMENT OF THE PROJECT-ORIENTED COMPANY
TABLE 18.2 Description of the Role: Project Portfolio Group
Objectives
• Optimize the project portfolio results and the project portfolio risk
• Design the project portfolio structures
• Implement the personnel and organization strategies in the project portfolio
• Contribute to the optimization of the results of networks of projects
• Contribute to the optimization of the management of chains of projects
Position in the organization
• Reports to the management of the project-oriented organization
• Members are managers of the project-oriented organization (e.g., managers of profit centers,
managers of IT, organization, marketing and finance divisions) and the PM office manager
• Meetings: Approx. twice per month, 3–4 hours each
Tasks
Tasks in assigning a project or a program
• Possibly: Decide on investments to be selected (if no independent investment decision committee
exists)
• Coordinate the project objectives with the strategic objectives of the project-oriented organization
• Decide on the organization form for initializing an investment (program, project, small project,
permanent organization)
• Nominate the project owner team
Tasks in project portfolio coordination and networking of projects
• Coordinate both internal and external resources used in the project, determine project priorities
• Determine strategies for designing the relationships to project environments
• Brief analysis of selected (critical) projects
• Decide on the stopping or interruption of projects (for strategic reasons)
• Organize the learning of and between projects, the use of synergies
• Nominate the project owner team in chains of projects
Environment relationships
• Management, profit centers, PM office, etc.
• Project proposal teams, project owner teams and project manager
• Employees of the project-oriented organization
• Customers, partners and suppliers
Formal authority
• Decisions regarding the designing of project portfolios

• Possibly: Decision regarding investment proposals
• Decision regarding project proposals
• Nomination of the project owner team
• Stopping and interruption of projects
• Initialization of the networking of projects

● Developing project progress and project close-down reports
● Developing a project homepage, etc.
Differentiated according to types of project, the project management knowledge
database should contain the actual project management documentation of closed-
down projects, project progress and project close-down reports, and lessons learned
from individual projects for project management.
The project management office can use various instruments for performing services.
Table 18.4 provides an overview of possible instruments for project and program
management and for project portfolio management.