Project Portfolio Management

Harvey A. Levine has been a project management specialist and consultant since 1962. In addition to contributing to PM journals and web sites, Levine provides applications, system design, and consulting services in project planning and control. He served as president and chairman of the board of directors of the Project Management Institute and is a PMI fellow. He is the author of Practical Project Management from John Wiley & Sons.

“…a valuable reference for theory and analysis…” (Supply Management, December 2005)

• Foreword xiMax WidemanAcknowledgments xviiThe Author xxiIntroduction 1Part One: A Practical Guide to Project Portfolio Management 11Section One: What Is Project Portfolio Management, and Why Do We Need It? 131.1 Why Do We Need Project Portfolio Management? 151.2 What Is Project Portfolio Management? 22Section Two: The Fundamentals of a Project Portfolio Management Process 292.1 Selecting Projects for the Pipeline 332.2 Maintaining the Pipeline 422.3 Executing Project Portfolio Management 522.4 Tools for Project Portfolio Management 592.5 Implementing Project Portfolio Management 78Section Three: The Finer Points of Project Portfolio Management 853.1 Defining PPM: A Bridge or a Hub? 893.2 A Prequalification Process for Selecting Projects for the Portfolio 933.3 The Impact of Uncertainty on Projects and the Portfolios 993.4 Is There a Gorilla in Your Portfolio? Turning Opportunity into Value 1093.5 Work Breakdown Structures for Risk and Strategies 1153.6 An Introduction to Earned Value Analysis 123Part Two: Contributed Chapters and Case Studies 133Section Four: PPM Techniques and Issues: Portfolio Planning 1354.1 Linking Strategy and Project Portfolio Management 137K. C. Yelin4.2 How to Determine the Value of a Project 146Ray Trotta, Christopher Gardner4.3 Using the Analytic Hierarchy Process to Improve Enterprise Project Portfolio Management 155James Devlin4.4 The Efficient Frontier Technique for Analyzing Project Portfolio Management 176Mike GruiaSection Five: PPM Techniques and Issues: Organizing and Implementing 1835.1 Making the Case for Project Portfolio Management 185Clifford B. Cohen, Randall L. Englund5.2 The Role of Executives in Effective Project Portfolio Management 217K. C. Yelin5.3 Project Offices Are Key Components of IT Governance 228Matt LightSection Six: PPM Applications: Information Technology 2336.1 A Summary of First Practices and Lessons Learned in Information Technology Portfolio Management 235Federal CIO Council, Best Practices Committee6.2 The Backbone System of IT Management and Governance: IT Management and Governance 101 267David HurwitzSection Seven: PPM Applications: New Product Development 2797.1 A Stage-Gate® Idea-to-Launch Framework for Driving New Products to Market 281Robert G. Cooper7.2 Portfolio Management for Product Innovation 318Robert G. CooperSection Eight: Applications: PPM for Theory of Constraint Advocates 3558.1 Applying the Theory of Constraints to Project Portfolio Management 357Larry LeachSection Nine: Case Studies 3919.1 Managing Your Technology Pipeline Portfolio Management Process and Its Evolution over Time 393Rebecca Seibert9.2 Using PPM to Ease the Hewlett-Packard– Compaq Merger 422Don Kingsberry9.3 Developing a PPM Capability at America Online 447Rich Dougherty9.4 EW Scripps: A Media Giant’s Portfolio Management Solution 456Vanessa McMillanSection Ten: What Others Are Saying About PPM 46110.1 Beyond the Triple Constraints: Developing a Business Venture Approach to Project Management 463Robert J. Graham, Dennis Cohen10.2 From Overload to Productivity via Systematic Decision Making 474James Schlick, Andrew Longman10.3 The Seven Habits of Highly Effective IT Portfolio Management Implementations 482Gil Makleff10.4 Project Portfolio Management Basics 492PMI Knowledge and Wisdom Center10.5 Integrating Project Portfolio Management with Project Management Practices to Deliver Competitive Advantage 496James S. Pennypacker, Patrick SepateNotes 507Index 522