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Important Skills and Capabilities for the Project Portfolio Manager
June 3, 2009 | Author: PM Hut | Filed under: Project Portfolio Management
Important Skills and Capabilities for the Project Portfolio Manager
By Miley W. Merkhofer
- Good understanding of the organization’s vision, mission, and strategy.
- Understanding of project and program management, including ability to assess project health based on high-level reporting documents.
- Leadership skills, including communication, presentation, and team building.
- Broad understanding of the business, including markets, customer base, partners, and applicable regulations.
- Able to interact effectively with senior executives.
- Good analytic skills, with understanding of the basic concepts and techniques for project valuation and risk assessment.
- Understanding of process development, change management, and continuous learning.
Miley W. (Lee) Merkhofer, Ph.D., is an author and practitioner in the field of decision analysis who specializes in assisting organizations in implementing project portfolio management. He has served on advisory panels for several government agencies and has received grants and research awards for work in the area. Lee is an editor of the journal Decision Analysis.
Prior to becoming an independent consultant, Lee was a Partner of PriceWaterhouseCoopers, where he founded that organization’s capital allocation and project prioritization business practice. Lee is a founding partner of Folio Technologies LLC, a provider of web-based, project portfolio management software.
Lee received his Ph.D. in engineering economic systems from Stanford University. He is the author of the book Decision Science and Social Risk Management and co-author of the book Risk Assessment Methods..
Additional papers on project portfolio management can be found on Lee’s website, www.prioritysystem.com. E-mail: lmerkhofer@prioritysystem.com.
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[...] The first step for establishing a project portfolio management function is to decide who will participate as active managers of the project portfolio. A project portfolio manager, typically a senior manager, should be appointed with accountability for the success of the entire project portfolio. (Check this list of important skills of the portfolio manager). [...]