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Product Description
This guide provides practical guidance for managers of portfolios and those working in portfolio offices as well as those filling portfolio management roles outside a formal PfMO role. It will be applicable across industry sectors. It describes both the Portfolio Definition Cycle (identifying the right, prioritised, portfolio of programmes and projects) and the Portfolio Delivery Cycle (making sure the portfolio delivers to its strategic objectives).
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Most Helpful Customer Reviews
2 of 2 people found the following review helpful
I first came across Craig Kilford, lead author of this book, back in 1993 or 1994. He and I were both budding and aspiring project managers, and he'd started up a Yahoo Group for people interested in applying PRINCE2 (which was still quite new, back then), which I joined. I think at the time he was leading a major business change project in the London Ambulance Service.
Since then he has gone on to manage - successfully - several other high profile projects and programmes in the UK public sector - so his pedigree is excellent. Those of us who have been lucky enough to attend any of his talks will know, also, that he is inventive and entertaining - qualities that show in his writing of this new (2011) OGC guidance book. Not that there are any jokes in the book, but it reads well and is a lot less "dry" than many books of this kind due to its straightforward, no nonsense style.
If PRINCE2 and MSP (managing successful programmes) are about doing things in the right way, then MoP (management of portfolios) is about choosing the right programmes and projects to do. Thus it is a perfect fit with the OGC toolkit of portfolio, programme and project management (P3M) materials. In a sense it is the keystone so it's ironic that it has come so late to the stable, but that is not the fault of its author.
It sets out, very clearly, what portfolio management is, why it is important, and how to do it. It uses a simple but effective twofold model of portfolio definition and portfolio delivery, governed by five principles and each breaking down into a number of practices. These two elements go hand in hand and are driven by organisational energy.
As well as providing details about the principles and practices, there are several case studies scattered throughout the book, and each section ends with a useful table that lists the key ideas and provides a brief explanation of them.
The book explains what to do, how to do it, who should do it, and how to organise the doing. For example, on the practice of prioritisation (part of the portfolio definition element) there is an explanation of financial metrics such as NPV and IRR, as well as non-financial selection criteria such as a benefit/risk matrix.
The one major problem with this book is that the people who would most benefit from it - senior executives - are the least likely to read it. And of those who do, the ones who do are probably those who would do it anyway, so it's the ones who don't who actually most need it! There is a short executive booklet that goes with this guide (sold separately of course!), so perhaps the answer is for enlightened programme and project managers (who I guess will be the most likely readers of this book) to buy copies of the executive guide and give them out to their executive managers as Christmas stocking presents.
I do thoroughly recommend and commend this book. If you are a senior executive, please read it and get your colleagues to do likewise. If you are a programme or project manager, please read it and then try to persuade your bosses to at least read the executive guide.
Since then he has gone on to manage - successfully - several other high profile projects and programmes in the UK public sector - so his pedigree is excellent. Those of us who have been lucky enough to attend any of his talks will know, also, that he is inventive and entertaining - qualities that show in his writing of this new (2011) OGC guidance book. Not that there are any jokes in the book, but it reads well and is a lot less "dry" than many books of this kind due to its straightforward, no nonsense style.
If PRINCE2 and MSP (managing successful programmes) are about doing things in the right way, then MoP (management of portfolios) is about choosing the right programmes and projects to do. Thus it is a perfect fit with the OGC toolkit of portfolio, programme and project management (P3M) materials. In a sense it is the keystone so it's ironic that it has come so late to the stable, but that is not the fault of its author.
It sets out, very clearly, what portfolio management is, why it is important, and how to do it. It uses a simple but effective twofold model of portfolio definition and portfolio delivery, governed by five principles and each breaking down into a number of practices. These two elements go hand in hand and are driven by organisational energy.
As well as providing details about the principles and practices, there are several case studies scattered throughout the book, and each section ends with a useful table that lists the key ideas and provides a brief explanation of them.
The book explains what to do, how to do it, who should do it, and how to organise the doing. For example, on the practice of prioritisation (part of the portfolio definition element) there is an explanation of financial metrics such as NPV and IRR, as well as non-financial selection criteria such as a benefit/risk matrix.
The one major problem with this book is that the people who would most benefit from it - senior executives - are the least likely to read it. And of those who do, the ones who do are probably those who would do it anyway, so it's the ones who don't who actually most need it! There is a short executive booklet that goes with this guide (sold separately of course!), so perhaps the answer is for enlightened programme and project managers (who I guess will be the most likely readers of this book) to buy copies of the executive guide and give them out to their executive managers as Christmas stocking presents.
I do thoroughly recommend and commend this book. If you are a senior executive, please read it and get your colleagues to do likewise. If you are a programme or project manager, please read it and then try to persuade your bosses to at least read the executive guide.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
1 review
Another OGC success story... Real Portfolio Management for the Enterprise!
30 May 2011
This book (and associated course) fills a significant void in the Portfolio, Programme and Project Management space, by providing a clear Portfolio Management Methodology that is sound and tailorable for all organizations... which is particularly relevant in today's resource constrained economic times where tough decisions need to be made. This is the capstone for OGC as it brilliantly ties in the PRINCE2, MSP, MoR, P3O methodologies (along with P3M3) in a service and benefits offering that is relevant for senior management. However, this book is for the actual Portfolio Management team, not senior management or the executive. For senior management or the executive I would strongly suggest An Executive Guide to Portfolio Management. This manual does presume a certain understanding and experience with the subject matter.
Unlike the other OGC best practice methodology manuals, though this one also is designed to help practitioners through the exams, I found it an easier read with more case studies... as with the other manuals it is also an invaluable reference manual as well. Also, for practitioners that have passed the course and exam, I would also recommend either the online or PDF version as it is nice to have the information, graphics and templates available in electronic format.
Unlike the other OGC best practice methodology manuals, though this one also is designed to help practitioners through the exams, I found it an easier read with more case studies... as with the other manuals it is also an invaluable reference manual as well. Also, for practitioners that have passed the course and exam, I would also recommend either the online or PDF version as it is nice to have the information, graphics and templates available in electronic format.
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