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Project Portfolio Management

Course developer

Prior knowledge

VadZ5083, Methodology of Project Management

Course abstract

The study course provides knowledge in the portfolio management as a part of the project management. Students learn principles and specifics of portfolio management, different methods of creating and balancing of the project portfolio. Students are also introduced with theoretical approaches in strategy making in an organization, risk management and communication in theoretical lectures. Students learn systemic thinking in practical activities in order to strengthen their professional competences and develop their ability to make decisions in a complicated and uncertain environment.

Learning outcomes and their assessment

Knowledge on theoretical portfolio-building principles and project evaluation methods, as well as the criteria for portfolio management evaluation – workshops.
Ability to independently analyze the development strategy of the organization and critically assess its relevance to the projects carried out, to analyze the development strategies and projects carried out by the regional and local authorities, to interpret the information obtained – 1st homework, workshops.
Ability to independently analyze portfolio management practices implemented by the organization by interpreting the results obtained in the theoretical context of portfolio management; ability to cooperate and to draw up joint conclusions and proposals on portfolio management in the organizations studied – 2nd homework, workshops.

Course Content(Calendar)

Lecture topics
1. The concept and functions of the project portfolio in project management.
2. The organizational development strategy.
3. Building a portfolio of projects.
4. Managing a portfolio of projects.
5. Risk management in the project portfolio.
6. Communication in the project portfolio management process.
7. Sustainability of portfolio management.

Topics for seminars
1. Methods for evaluating projects: financial and evaluating (2 hours)
2. Analysis of Latvian local government project portfolios in the context of planning regional development strategies (2 hours)
3. Development of an organisation's portfolio management research methodology (2 hours)
4. Coordination of views of stakeholders (3 hours)
5. Presentation of study results on portfolio management in group work (2 hours)
6. Drawing up conclusions and proposals on portfolio management in the organisations analysed (1 hour)

Requirements for awarding credit points

Formal test with a grade.
Grade is based on a cumulative assessment of the progress made during the semester:
- two homeworks have been submitted and presented at the scheduled time;
- two practical works during the seminars;
All tasks must be assessed with at least 4 balls.

Description of the organization and tasks of students’ independent work

- Independent literature studies on topics (materials are available in the e-study environment), preparations for workshops;
- Development and defence of homeworks.

Criteria for Evaluating Learning Outcomes

Formal test with a grade based on a cumulative assessment (100% system): - 1st homework – 40%; - 2nd homework – 40%; - Workshops – 20%; All works must be carried out, submitted and presented at the scheduled time. Homeworks shall be evaluated according to the requirements for the quality of performance of the task, which shall be determined by the tutor.

Compulsory reading

1. Levin G., Wyzalek J. (eds) Portfolio Management: A Strategic Approach. Boca Raton, FL: CRC Press John, 2015. 360 p. (e-grāmata) 2. Moustafaev J. Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World. Boca Raton, FL: CRC Press John, 2017. 315 p. (e-grāmata) 3. Larson E.W., Clifford F.G. Project Management: the Managerial Process. Seventh edition. NY: McGrow-Hill Education, 2017.659 p. 4. Burke R. Project Management: Planning and Control Techniques. Fifth edition. Chichester, West Sussex: John Wiley & Sons, 2013. 407 p. 5. Wysocki R.K., Bentley K. Global Complex Project Management: an Integrated Adaptive AGILE and PRINCE2 Lean Framework for Achieving Success. Plantation, FL: J. Ross Publishing. 2016. 273 p.

Further reading

1. Haugan T.G. The Triple Constraints for Sustainable Projects, Programs and Portfolios. Boca Raton, FL: CRC Press John, 2013. 404 p.(e-grāmata) 2. Maltzman R., Shirley D. Driving Project, Program and Portfolio Success: The Sustainability Wheel. Boca Raton, FL: CRC Press John, 2016. 216 p. (e-grāmata) 3. Thompson J. Strategic Management: Awareness&Change. Eighth edition. Australia, Cengage Learning, 2017. 650 p. 4. Dagnino G.B., Cinici M.C. Research Metfods for Strategic Management: a Research Methods Handbook. New York: Routledge, 2016. 377 p. 5. Kasahara E. Practical Strategic management: how to Apply Strategic Thinking in Business. New Jersey: World Scientific Publishing, 2015. 139 p. 6. Hopkin P., Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management. Fifth edition. London: Kogan Page, 2018. 453 p.

Periodicals and other sources

1. Project Management Journal [tiešsaiste]. Pieejams: https://journals-sagepub-com.db.rsu.lv/doi/abs/10.1002/pmj.20053 2. Latvijas Nacionālā projektu vadīšanas asociācija (LNPVA).[Tiešsaiste]. Pieejams: http://lnpva.lv/ 3. Project Management Institute (PMI). [Tiešsaiste]. Pieejams: https://www.pmi.org/ [Tiešsaiste] 4. International Project Management Association (IPMA)[Tiešsaiste]. Pieejams: https://www.ipma.world/

Notes

ESAF professional master programme „Project Management”