Book Description
Successfully managing a portfolio of projects demands both tactical and strategic skills. This paper--the author's sixth PMI Global Congress paper on project portfolio management (PPM)--examines how project managers can develop a strategic model for practicing PPM and a framework for developing breakthrough strategies. In doing so, it describes the differences between tactical and strategic initiatives and outlines a strategic model for practicing PPM, explaining the key issues and objectives involved in using this model as well as showing the relationship between PPM and executive management and PPM and project and program management. It then details the framework for developing breakthrough strategies, identifying the characteristics of a strong-operating enterprise and discussing the three steps involved in creating breakthrough strategies. It looks at three companies (Boeing, Apple, Apache Helicopters) that implemented breakthrough strategies successfully and one company (Enron) that did not. It also defines the responsibilities for two new PPM-related executive positions and lists the nine differences between a portfolio manager and a strategic portfolio manager.