Select and balance 8hours
The competence Select and balance (Practice 14; only for programme and portfolio management) describes the selecting and balancing of components of programmes and portfolios.
The Select and balance (Practice 14) competence element enable the individual to prioritise, select and re-assess all components within the programme scope, based on clear criteria. Maintaining the balance, consistency and performance is crucial in order to achieve the outputs and outcomes.
- Identify the components
- Analyse the components
- Prioritise the components
- Create an overview of all deliverables
- Predict the performance of the related compinents
- Facilitate the decisions to be made
- Identify all ideas, plans, proposals, and active and inactive initiatives.
- Collect together all the current issues and document them.
- Produce an inventory and discuss this with the right people.
- Collect information on the way in which the components are related to each other.
- Analyze the relationships of the components.
- Identify the compulsory components.
- Compare the different components to assess whether they are worth the investment.
- Remove redundancy between the different components.
- Group projects into programmes when this is required.
- Obtain agreement on the way in which the prioritizing takes place.
- Support the prioritizing process.
- Support the allocation, financing and selection processes.
- Prioritize the components, based on their contribution to the total picture.
- Bring the components into line during the agreed assessment times.
- Collect and assess qualitative and quantitative data on the components.
- Monitor the portfolio to ensure it continues to meet the expectations.
- Identify those components, which have to be further investigated.
- Identify the necessary amendments to the portfolio.
- Assess and improve the identification of the components.
- Use performance indicators to measure the added value.
- Use this to prioritize the components.
- Learn from the experience in order to improve this process.
Chinwi Mgbere is the President of Project Managers Development Association of Nigeria (PMDAN), Member Association of the International Project Management Association (IPMA), Certified Projects Director (IPMA Level A), National First Assessor of the IPMA 4 Level Certification System for the PMDAN Certification Body. He has taught various disciplines at Nazarbayev University School of Engineering
Chinwi Mgbere has more than 24 years of experience including extensive international experience in managing projects, portfolios of projects and programs.
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