PMRank®

Help a fictitious company to manage its projects portfolio and understand in practice the decision making models to select the appropriate projects for the strategic business objectives.

Logo PMRank

The PMRank® workshop is a practical and innovative training about project portfolio management. It uses case studies, a set of varied criteria and decision making models such as the Analytic Hierarchy Process (AHP), which enable the participants to have a proper understanding on how to decide the right mix of projects to be undertaken.

The methodological basis for all the PMRank's work can be found on the Standard of Portfolio Management published by the Project Management Institute and on the Management of Portfolios (MoP) published by the UK Office of Government Commerce (OGC).

No experience required

PMRank® is designed for executives, strategic planning teams, investment planning teams, project managers and others stakeholders involved in the selection of portfolio investments/projects.

The workshop does not require experience in projects or in portfolio management. All knowledge necessary for comprehension and participation in the workshop will be presented during the training.

How it works

During a one-day seminar, the participants are grouped into teams to support Tiger Screws, a fictitious screw and connector’s factory with global operations. Each team will seek for the improvement of the market company position and they must do so through the elaboration of a different strategic objective.

Team analysing the projects' data sheet
Team analysing the projects' data sheet
Team analysing the projects' data sheet

Upon receipt of the strategic map and its direction for the next two years, the participants will define and choose which set of criteria best represent the required strategic direction, in order to do so, they will compare and prioritize the criteria that will be applied to all potential projects.

Multi-criteria decision models

At this stage of the training the multi-criteria decision models are presented and applied to the planned tasks. To ensure the process comprehension, the participants will make all the calculations of the Analytical Hierarchy Process (AHP) using only one data sheet of paper and a basic calculator.

Then, the criteria are applied to the potential projects to create their ranking and direct the process of choosing a portfolio. Because each team is told to use a specific direction, the ranking of each will be different, allowing discussion of the different results between the groups.

At the end of the projects ranking, "force-in/force-out" directions, resource and budgets constraints are presented and the portfolio is balanced.

Finally, the portfolio is monitored, controlled and adjusted based on market information, project results and new directions in order to ensure the continuous alignment between the portfolio and the business need (business justification).

Scope of work

At the end of the course the student will be able to:

  • See the result of a specific strategy reflected in the selected projects portfolio
  • Compare the different approaches and their implications on the selected projects results
  • Select the appropriate criteria to be used based on the strategic direction
  • Understand and distinguish the quantitative, qualitative and strategic criteria
  • Translate strategic business objectives in the selection criteria
  • Use the Analytical Hierarchy Process (AHP) as a comparative mathematical basis for prioritizing projects and criteria
  • Decompose a high level strategic guidance on direct, tangible and measurable criteria
  • Balance the project portfolio considering the existed resources and investments constraints

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Fact sheet

Estimated duration [?]

8 hours

Number of participants

Recommended minimum of 20 attendees

Target audience

Executives, Strategic Planning Teams, Investment Planning Team, Project Managers and others involved in the selection of portfolio investments/projects.

Requirements

None. It’s not necessary any prior knowledge in project and/or portfolio.

Languages [?]

English and Portuguese

Venue

Provided by the contractor, it can be worldwide performed.

Certification and PDUs [?]

8 PDUs – All attendees will receive a certificate with this number of PDUs.

  • Workshop opening
  • Module I - The Importance of Portfolio Management in Business Strategy
  • Module II - Projects Assessment, Prioritization and Balancing: Fundamental Concepts
  • Module III – PMRank® Introduction and Rules
  • Module IV - Teams Development
  • Module V – Tiger Screws Company
  • Module VI - Potential Projects Identification and Initial Assessment
  • Module VII - Criteria Assessment Definition
  • Module VIII - Assessment Criteria Prioritization and Analytic Hierarchy Process (AHP)
  • Module IX - Portfolio Balancing
  • Module X - Results Presentation and Discussion
  • Module XI - Portfolio Communication, Approval and Implementation
  • Module XII - Portfolio Strategic Monitoring and Controlling
  • Final conclusions and closure

Supported standards and methodologies

Project Management Institute (PMI)
  • PMI Standard for Portfolio Management
  • PMI Standard for Program Management
UK Office of Government Commerce (OGC)
  • MoP (Management of Portfolios)
  • P3O (Portfolio, Programme and Project Offices)
  • MSP (Managing Successful Programmes)
PMP, PMBOK Guide, CAPM e PMI are trademarks of Project Management Institute, Inc.