04.10.2007

The statement that to ensure a stable position in the market a company needs to constantly develop has already become an axiom. This development must be supported at the proper technological level. To have confidence in the future, a company needs, among other things, to constantly implement innovative projects in the field of IT. Which projects to choose? And how to successfully complete the project itself? There is clearly not enough staff and finances to satisfy all wishes. However, the absence of a particular technological solution can weaken the company's position in the market. For example, not providing customers with the service of managing accounts via the Internet for a bank means a concession to competitors. The lack of operational management reporting for management in the enterprise information system leads to the risk of making a decision that is not supported by financial resources. Thus, in addition to the dangers that await the IT project manager and the team during the execution of work, there is also a headache for management - which of the needs in the field of automation should be allocated for? What is more important - ensuring the security of accounting data, powerful communication channels with branches or implementing a CRM solution? A proven mechanism for solving such a problem is an existing IT project portfolio management system. The system means a comprehensive model consisting of elements of the company’s organizational structure, methods and regulations, and an information system that ensures automation of portfolio management processes.

Problems and solutions

Typical tasks that a company’s IT department solves can be divided into three main groups:

supporting the current activities of the company, that is, ensuring the uninterrupted functioning of systems and equipment, information security and availability of information resources;
ensuring the planned development of the company;
ensuring innovative development of the company based on modern technologies.

Currently, the quality of IT services within a company directly affects the quality of its services and products and, consequently, its competitiveness. Most managers objectively assess the contribution of IT to the provision and development of business. For example, according to Western statistics, companies invest in IT from 2 to 7% of income, and some - up to 20%. Investments in IT are constantly increasing as software and hardware become more expensive and automation becomes global. The share of costs for support and maintenance of already implemented software is also growing. Here are the typical problems that most IT managers have to face: duplication of solutions, complexity of integration, low quality of applications, the need to use open standards, increasing risks of IT projects due to the high speed of technology development.

Managing IT projects as investments

IT project portfolio management is one of the components of the complex task of IT portfolio management, since the strategic development of IT in a company is directly related to the efficiency of project implementation as the main tool for implementing changes. The importance of control over IT investments is increasing. The most effective way is to manage through projects. Properly organized and well-managed projects can ensure the desired results are delivered on time and within budget. IT departments of companies widely practice the project approach. However, now the task of successfully implementing not only individual projects, but also their entirety that make up the company’s IT project portfolio, comes to the fore. Project portfolio management is the next step in the science of project management. What is the main difference between portfolio management and IT project management? Management goals. If the goal of project management is to deliver the project product on time and within budget, then the goal of portfolio management is to obtain the greatest return from the implementation of the entire set of projects (relative to their cost and other potential project investments). Portfolio management focuses on ensuring that the entire set of projects is successfully delivered. Subjects of management. If in project management the subjects are primarily the managers of individual projects, then portfolio management is focused on functional top and middle managers, on those who make decisions whether or not to invest in a particular project. The issue of optimizing investments in IT is a matter of business efficiency as a whole, and more and more companies are beginning to apply the principles of portfolio management to IT projects. Why did the task of managing a portfolio of IT projects on a scientific basis arise? There are several reasons. It is often difficult to understand which technology investments are good (useful) and which are not without additional due diligence. When choosing areas for investing in IT, it is necessary to take into account many diverse parameters that are important for making a decision, for example, not only the cost of the projects themselves to implement information systems, but also the cost of owning the product: maintenance, support, integration with other products and modernization in the future. When making IT investment decisions, the drivers of risk, cost and business value must be proactively identified, assessed, prioritized and balanced across the IT project portfolio. This is the main task of managing a portfolio of IT projects in a company. From a practical perspective, project portfolio management covers the people, processes, information and technology that support decision making.

Project portfolio management life cycle

The project portfolio management life cycle (PPM life cycle) correlates with periods of revision of the company's strategy (and if we are talking about the IT department, then the IT strategy). This cycle, in its ideology, coincides with the Deming cycle: “Plan - do - check - act.” Graphically, the project portfolio management cycle is shown in the figure. Just as the strategy cannot change every month, the project portfolio should not be revised more often than market conditions require - otherwise this is no longer regular, but situational management, and it can be practiced in immature companies whose only task is to remain afloat. We can give the following general recommendation: the frequency of review of the IT project portfolio should be determined by the frequency of review of the enterprise strategy. Let's look at the four phases of the portfolio management life cycle. Phase 1. Clarification of requirements Based on the formed IT strategy, the company determines a set of criteria for evaluating projects, including the criterion of their “strategic usefulness.” For example, projects focused on improving information security will have a high rating if such a goal is defined in the IT strategy. This phase also determines what resources are available to complete the project portfolio.

At the same time, it is recommended to always leave a small reserve for those projects that may arise unexpectedly, for example, due to the introduction of additional requirements by the state for financial/accounting or tax reporting. There is always a risk that an unexpectedly “imposed” project will turn out to be very resource-intensive. Then you will have to start the portfolio planning procedure again, displacing less important projects to free up resources. The described situation should be perceived as an emergency that arose as a result of external circumstances. The possibility of “accidental” emergence of projects from internal customers must be regulated. This can be helped by the introduction of portfolio management in IT with the mandatory involvement of company management in the portfolio management process.

Phase 2: Planning

When planning a portfolio, it is necessary to compile a general list of both new project initiatives and already ongoing projects and evaluate each element of the list according to the parameters formulated during the phase of clarifying the requirements for the portfolio. Projects are assessed according to portfolio parameters, as a rule, by a portfolio (or project) committee - a group of business customers and IT department managers responsible for implementing the IT strategy and having subject matter expertise to evaluate projects. Integrated project planning (deadlines, resources) is also carried out. Based on an assessment of project parameters and taking into account resource limitations, a portfolio is formed for implementation for the planning period (six months, a year). In this case, it is advisable to use specialized software that contains a mathematical apparatus for balancing the portfolio according to a set of criteria, since even with a small number of projects in the department’s register, it is quite difficult to carry out such an operation without automation tools.

Phase 3: Implementation Management

Managing the implementation of a project portfolio is primarily associated with project management processes. At the implementation management phase, the progress of portfolio projects is monitored and controlled based on selected key performance indicators developed in the process of clarifying portfolio requirements, and the necessary corrective actions are taken to manage risks and problems, resources, budget, and deadlines. At this stage, you can make adjustments that do not require re-planning the portfolio as a whole, for example, include new projects in the portfolio within the framework of the established resource reserve, terminate or suspend projects, change the priorities of portfolio projects.

Phase 4. Evaluation of results

The phase of assessing the results of the implementation of portfolio projects represents a “control point” at which the results of the implementation of the portfolio are subject to analysis and evaluation. At this stage, a decision is made to review or adjust the principles of organizing the project portfolio (constraints, formation criteria and key performance indicators). The timing of the results assessment phase coincides with the end of the strategic planning period and the revision of the strategic goals of IT and the company as a whole.

Control Features

When managing an IT department's project portfolio, the following features can be highlighted. Portfolio goals The goals on the basis of which criteria for portfolio management are developed are not directly related to profit. IT department projects always incur costs, so the traditional approach, where a portfolio of projects tends to maximize profits, is not appropriate. For IT projects within a company, it is impossible to reliably calculate financial indicators in advance - ROI, NPV, IRR. In a situation where projects do not bring immediate profit, the main goal in creating and managing a portfolio of projects is to get as much value as possible from the available budget. Selection criteria The most significant are IT-specific criteria related to technological reliability and the overall lifespan of the product (long-term project results). For example, it is believed that the average lifespan of a corporate information system (including an automated banking system) is 5-7 years, after which it ceases to satisfy both continuously improving technologies and the changing and constantly optimized business processes of the organization and requires either significant modifications or replacement with a more modern system. Other fundamental differences between the IT project portfolio management model and the business project management model include the following:

Business managers tend to be less enthusiastic, since IT projects always involve costs;
The customer for IT projects is always internal (top management of the company in the case of large projects, for example, the implementation of a new ERP system, corporate data warehouse, or various structural divisions, for example, financial department, sales department, accounting, etc.).

How to build portfolio management in an IT department

The first question that usually arises for an IT manager who decides to try portfolio management tools is who will implement portfolio management. Organizationally, this task can be assigned to the project office, if it is created in the IT department, or to a specially designated working group that implements this organizational change as a project. The portfolio management implementation project can be presented in large-scale form as a sequence of steps. Step 1. Formation of a project (or portfolio) committee in the IT department To organize portfolio management on a regular basis, it is necessary, first of all, to answer the question of who will make the main decisions on projects: which projects need to be implemented now, which should be abandoned, which are of higher priority. In accordance with modern management trends, decisions of this nature should be made not individually, but collectively, with the involvement of business managers and key users - heads of functional departments. Thus, at this stage it is necessary to determine the composition of the project committee and develop regulations for its activities. Step 2. Development of portfolio management principles (methodology) At this stage, evaluation criteria are developed by which portfolio projects will be ranked. Optimization criteria are also established, according to which the portfolio will be balanced. Such criteria include, for example, the optimal balance between different types of projects or a threshold value for the total portfolio risks. And finally, performance criteria are determined by which the implementation of portfolio projects will be monitored. Step 3. Implementation of a management information system At this stage, software is selected, licenses are purchased, and software is installed and configured to manage the project portfolio. Step 4. Formation of a primary portfolio of projects for the IT department With the help of IT department specialists, it is necessary to conduct an inventory and compile a general register of projects already being implemented in the department, as well as project initiatives - ideas and proposals on which a decision has not yet been made. Members of the project committee must make an expert assessment of all projects and project initiatives according to criteria that cannot be calculated or determined unambiguously. The result of this assessment is an overall ranked list of projects and project initiatives. Using the information system, the most “useful” projects are selected and the portfolio is balanced in accordance with previously defined principles. The project committee approves the final set of portfolio projects. Step 5: Execute portfolio projects with regular progress reporting The project committee meets regularly (for example, once a month) and reviews reports on the implementation of the portfolio. Such constant monitoring of the progress of implementation makes it possible to promptly terminate projects that have lost relevance, redistributing resources between other projects, and give an effective start to urgent and important projects that have emerged. In general, strategic management of a portfolio of IT projects is a regular and systematic process, implemented in accordance with the cycle described above. The implementation of portfolio management is a complex organizational project, however, the processes of portfolio and project management themselves are permanent business processes of the company, which must be carried out exactly as long as the enterprise operates and implements innovations in its activities. It is possible to draw a conclusion about the successful implementation of project portfolio management only after the portfolio management processes have not undergone one-time testing, but are constantly used at all levels of management in the organization.

Project portfolio management will be a tool that will make investments in certain areas of information technology development justified for company management and will allow IT managers to act on problematic projects in a timely manner. However, we should not forget about the necessary but insufficient conditions for the implementation of portfolio management - the maturity of project approaches. It is too early to talk about balancing the project portfolio if there is no project register, initial assessment of projects at the initiation stage, or formalized change management during project implementation. It is advisable for a company to talk about introducing approaches to managing project portfolios at least at the second level of maturity in the field of project management. A serious barrier to the implementation of portfolio management can also be decentralized management decision-making (it is important not to confuse it with delegation of responsibility for managing individual projects). The initiator and driving force behind the idea of introducing portfolio management, as well as the executor in the development of portfolio management mechanisms, can be the existing project office. Evgenia Popova, Director of the Project Management Consulting Department at PM Expert, . Olga Shestopalova, Deputy Director of the Project Management Consulting Department at PM Expert, Published with permission from Open Systems Publishing. All rights reserved. Original publication

Project portfolio management systems

Project Portfolio Management is a methodology for presenting a company's strategy in the form of a portfolio of projects for subsequent implementation, planning, analysis and re-evaluation of the portfolio in order to effectively achieve the strategic goals of the organization.

Project portfolio management systems are software designed to implement and support project portfolio management. It combines two areas of knowledge: portfolio management and project management.

Below you will find some interesting news about project portfolio management solutions.

2014. Comindware Project will allow you to work with external contractors as part of joint projects

The Comindware Project service has added the ability to work with external users and contractors as part of joint projects. Thanks to the new functionality, company employees have the opportunity to add external users and control their access to tasks, documentation, reports and general discussion of specific projects. The ability to invite external users into the system, while limiting their access to internal corporate information, allows you to organize effective interaction between the team and contractors and clients.

2012. Advanta transfers its entire holding to a cloud-based project management system

Typically, large companies choose heavy traditional IT solutions and do not trust cloud systems due to corporate security concerns. But gradually the benefits that online systems bring are taking precedence over the fears of IT managers. Thus, the project for implementing the Advanta cloud project management system in the agricultural holding KOMOS Group, which includes as many as 20 enterprises throughout Russia, was recently completed. Now all of them (namely about 300 users) can work together on projects in a single system. With the help of Advanta, the holding carries out organizational projects (for the reorganization of companies), investment projects (construction and reconstruction of production facilities, modernization of equipment, development and improvement of products), and financial projects (intended for constant monitoring of the financing of project activities).

2012. Advanta 2.0 - five-story business management system

Advanta Group has released a new version of the SaaS business management system Advanta 2.0. Previously, this system was called A2: Project Management, but since... Since the new version significantly rethought the philosophy of the product and changed its functionality, it was simply impossible not to rename it. Now the system developers will be offended if you call Advanta a project management system. Now it is a business management system, or even a business development management system. Unlike many other project management systems, which have recently become simpler, flatter, and more social, Advanta has gone in a different direction. The creators clearly defined that the main user of Advanta is the head of the company. And work in the system is carried out at five levels: My work -> Team -> Organization -> Strategy -> Vision. Thus, the manager can use the system both to plan the working day and to formulate company goals.

2010. PM Arena - a new Web-system for managing large-scale projects

The Russian company Fogsoft presented a new web-based project and portfolio management system PM Arena. This is a set of analytical tools for the head of a company or government agency, making it possible to easily and clearly monitor and manage changes in large-scale projects and government programs. Unlike universal project management systems such as MS Project, Primavera, Spider Project, the PM Arena solution is narrowly focused, has pre-configured business processes, an analytical situational center with a strategic focus on results and is focused primarily on government agencies.

2008. Compuware has updated its IT project portfolio management tool

Compuware has released Changepoint 2009, an IT project portfolio management solution that competes with products from CA and Hewlett-Packard, as well as software from Oracle, which recently acquired Primavera. Improvements in Changepoint 2009 include the introduction of comprehensive capabilities for planning IT investments: the system allows you to model the costs and return on investment for several years in advance. The functionality for managing and tracking workload has been expanded: employees can develop scenarios for their work using the “what if” principle, analyzing the consequences of changes. Portal features have been added, such as modifying the user interface according to a specific employee role and automatically generating reports by email. Changepoint 2009 per user licensing starts at $400

2008. Oracle buys Primavera

Continuing to expand its portfolio of business applications, Oracle Corporation announced the acquisition of Primavera Systems, a provider of project and project portfolio management (PPM) systems. Financial terms of the deal were not disclosed. It is expected that it will be completed before the end of this year.

2008. IW PPM solution for project and portfolio management from Innoware

Innoware has created a new integrated project portfolio management system - IW PPM (Project Portfolio Management). Built on Microsoft® Office Project Server and Microsoft® Office Project Portfolio Server, this solution integrates with ERP and covers the management of all key business processes in project, program and project portfolio management. This technology solution was first tested in Innoware itself. “After implementing the solution, our financial department began closing the reporting period almost 3 times faster.

2007. I-Teco + CA: managed project portfolios come to Russia

CA, a global manufacturer of software for managing corporate IT resources, and I-Teco, a Russian provider of integrated IT solutions and consulting services, announce a strategic partnership to promote project portfolio management solutions (Project & Portfolio) in the Russian market Management - PPM). As part of the agreement, I-Teco becomes the first CA partner in Russia who will implement CA solutions for managing project portfolios.

2007. CA solutions for project portfolio management have become available in Russia

In the second half of September, CA, a manufacturer of software for managing corporate IT resources, and I-Teco, a provider of comprehensive IT solutions and consulting services, announced a strategic partnership to promote project portfolio management solutions in the Russian market (Project & Portfolio Management (PPM). As part of the agreement concluded between the parties, I-Teco receives the status of Enterprise Solution Provider (ESP) in relation to CA and becomes CA's first partner in Russia in the PPM area.

2007. Planview acquired Business Engine

Planview, the market leader in project portfolio management solutions and the exclusive partner of PM Expert in Russia and the CIS, announced the purchase of all assets of Business Engine, based in San Francisco. Business Engine - with its 20-year history of success in IT portfolio management, will further strengthen Planview's position as a leader in this market. Business Engine's strengths also include broad expertise and authority in Earned Value Management, which will further expand Planview's offering to federal agencies and government contractors.

2007. Everything about project portfolios

Oracle continues to acquire other companies: in early October, it announced the acquisition of Primavera Software, a leading maker of Project Portfolio Management (PPM) software. Completion of the transaction is scheduled for the end of this year. Its terms have not been disclosed. Almost standard Although the PPM systems market includes products created by large companies such as CA and IBM, there are also products from smaller companies such as Planview and Cardinis.

2006. Courses based on the latest PMI standards are presented in Russia

PM Expert was the first company in Russia to present courses based on the latest PMI standards for managing programs and an organization's project portfolio. The courses, developed by PM Expert and first presented in Russia based on the PMI standards The Standard for Portfolio Management and The Standard for Program Management, already today allow domestic companies to study and apply approaches to achieving business benefits and strategic goals of the organization for the benefit of their own business.

2006. HP took on project and portfolio management

Hewlett-Packard has released Mercury Project and Portfolio Management Center 7.0, a software system designed to help enterprises optimize the development of IT departments in accordance with the company's business goals and standardize methods for assessing the status of such projects. This is HP's first product as a result of its recent acquisition of Mercury Interactive. According to HP representatives, the system helps CIOs make decisions that are consistent with the company's business objectives. The system has an optimization mechanism that automatically ranks IT projects according to specified criteria, such as “has budget problems” or “ensures the implementation of priority corporate tasks.” In addition, the toolkit can be used to set corporate-wide standards and rules used to assess the status of projects.

2006. Effective outsourcing

Toyota Motor LLC has successfully implemented a portfolio of 7 projects for the implementation of information systems, carried out by RM Expert. This is one of the few successful Russian experiences in outsourcing project portfolio management.

2006. Success in the portfolio

Project portfolio management (PPM) software is an important factor in IT success because it allows you to visualize key IT requirements, find the optimal combination of new projects and existing systems to properly allocate resources, and keep excess investments under control. . Forrester's analysis of the PPM market showed that solution providers focused on specific industries or specific types of work remain leaders.

2002. Primavera secures remote project management

The PMSoft and ELVIS+ companies announced a joint integrated solution - a secure project management system based on Primavera software. for geographically distributed projects The created system, in addition to tools that ensure the implementation of such traditional functions as planning and control of projects, monitoring the current state of the project, managing results and risks, also includes an information security subsystem that limits unauthorized access, protects the perimeter of the system, and provides external remote users, including mobile ones, have secure access to system services. It also guarantees a high degree of protection of management information, delimitation of user rights, registration and logging of actions of users and service personnel. Thanks to the scalability of the information security subsystem, users have the opportunity to adjust the level of protection of information resources depending on the established security policy in the organization

1995. Time Line makes project management easier with flexibility and ODBC support

The power and flexibility of Time Line 6.5 allows managers to clearly manage a portfolio of projects, resources and applications. Windows version 6.5 of Time Line Solutions' $699 project management suite was released in September. It has an improved interface and expanded options for configuring the package by the user. However, the most significant change made to the product is support for ODBC (Open Database Connectivity) compliant SQL databases, which makes data sharing and project management easier.

Goals

The goals of project portfolio management stem directly from the challenges that arise in a multi-project environment. The main goals include:

Selection of projects and formation of a portfolio that is capable of achieving both tactical and strategic goals of the organization.
Balancing the portfolio, that is, achieving a balance between short-term and long-term projects, between the risks of projects and possible income from their implementation, developing new products and improving old ones, and so on.
Monitoring the planning and execution processes of selected projects. In particular, making decisions regarding the allocation of limited resources, providing all projects with the necessary resources in adequate quantities while ensuring the profitable and efficient use of resources.
Analysis of the efficiency of the project portfolio and search for ways to improve it. Making decisions about introducing new projects into the portfolio or closing unprofitable or ineffective projects.
Comparing the capabilities of new projects among themselves and in relation to projects already included in the portfolio, as well as assessing their mutual influence.
Coordinating the requirements of these projects with other activities not related to the projects themselves (for example, production of finished products, etc.). Close interaction with various functional departments.
Ensuring a stable and effective project management mechanism. For example, developing organizational charts and management systems to meet the constantly changing needs of projects, or finding ways to consolidate the knowledge gained by employees during various projects.
Providing information and recommendations to managers at all levels for their decision-making

Tasks of portfolio project management

Ensuring the company's innovative activities; Ensuring the development of the company; Ensuring the operational activities of the company; Increasing the efficiency of the company; Improving the efficiency of budget distribution among project groups;

Advantages of SCP

Determining the most beneficial development paths for the company, taking into account financial restrictions, adopted policies and rules; - clarity in the implementation of strategic plans and achievement of strategic goals; - reducing the consumption of company resources on unnecessary projects; - increasing the efficiency of resource use on existing projects

Types of project portfolios

Combe and Gitens distinguish three main type of project portfolios:

value-creating: strategic or enterprise-wide projects;
operational projects: lead to increased efficiency of the organization and meet the basic needs of functional units;
compliance: mandatory projects required to maintain internal regulations and standards.

In organizations that have reached maturity in project management, a specially formed Project Portfolio Management Group, consisting of senior managers, is responsible for decisions on programs and projects included in their portfolios.

Project Portfolio Management Standard

Principles of Portfolio Management (PMP)

Principles of Portfolio Management- these are universal rules for portfolio formation.

Purpose of PU– optimal achievement of the company’s business goals through the implementation of projects included in the portfolio.

For portfolios of the company's core activities, a direct correlation with business goals is possible, but for projects supporting the company's activities, such a correlation is difficult, since the projects are not aimed at achieving business goals.

IN PPU the rules for portfolio formation are fixed, which depend on external and internal factors. They should be based on an understanding of the strategic goals and objectives of the business, taking into account influencing factors, determine assumptions and limitations in terms of the implementation of projects with different characteristics to ensure a balanced investment. It is also important to determine what factors and to what extent influence the attractiveness and manageability of projects.

PPU– a set of basic guidelines for answering the questions:

Where are projects that are difficult to manage but important for business acceptable, and where are projects that are unattractive for business but necessary?

Can a company carry out several parallel urgent projects at the same time?

Is it possible to implement projects that do not provide a quick return on investment, but bring qualitative benefits?

Should we focus on innovation or should we expand and modernize existing technologies?

Factors that determine the attractiveness and manageability of projects.

Portfolio Management Tools- this is a means of improving complex portfolio indicators, to bring financial indicators closer to those fixed in the principles of portfolio management. It can be performed both when creating a new one and when updating an existing portfolio. The need for processes is determined based on a visual representation of the project portfolio and calculation of complex indicators. The visualization is represented by a square “attractiveness/manageability” of the project in the shape of a circle, the size of which corresponds to the project budget. It is also necessary to analyze the share distribution of investments among various groups of projects using a pie chart, which allows one to compare the actual distribution of funds among projects with the previously approved one.

Portfolio optimization

Target portfolio optimization– this is an increase in the manageability and attractiveness of projects and the portfolio as a whole by changing the parameters of the projects included in the portfolio. To achieve the goal, it is necessary to develop management recommendations for project transformation. This is done by combining all “relevant” (with common goals, close interconnection and interdependence, contiguity of projects on the basis of one customer, on the basis of common resources and management) projects into groups and comparing them in groups. For each group, questions are developed: - projects and conditions for their inclusion in the target portfolio - what characteristics and parameters of the group’s projects will influence the parameters of the target portfolio projects? -how will project assessments change and what management actions will the changes be achieved?

Examples of project transformation solutions

Carry out the project without changes(a project that does not need to change is carried out according to expectations and in coordination with other projects)

Focus the project on narrower goals(health improvement, risk reduction, increased controllability)

Refocus the project on new or additional goals(increasing the attractiveness of the project, improving portfolio balancing)

Change the set of results to meet the original goals(transformation of expected results into more productive and economical solutions)

Reorganize the project team and operational management(reduced risks, increased controllability)

Suspension/termination of the project when certain results are achieved(risk reduction, sales growth)

Complete the project ahead of schedule and archive its results(results cannot be transformed and are not needed by the business - savings in financing if completed early)

Based on the decision, some projects are excluded, while for the rest, complex indicators of attractiveness and manageability are increased. Received projects = target portfolio. If the portfolio is being formed for the first time, then the groups are compiled as follows:

Description of “ideal” projects that need to be completed for a more comprehensive solution to the portfolio’s tasks, similar to current projects, “ideal” ones are described by project passports.

A logical group “1 ideal project + relevant real projects” is formed; if there are no relevant ones for the “ideal” project, then it covers certain tasks that are not covered by other projects - therefore, it must be included in the target portfolio.

Comparison in each group and development of solutions for project transformation and re-evaluation of transformed projects.

Project portfolio balancing

Project portfolio balancing– this is bringing the actual distribution of investments closer to those recommended in the PPU (developing such transformation decisions so that the distribution of budgets among groups changes properly). As a rule, it is performed together with optimization.

To determine the need for balancing, a pie chart of the actual distribution of investments is constructed and superimposed on the chart of expected investments in PPU. Deviations are determined and the portfolio balance indicator is calculated.

The task is to change the distribution of budgets where the discrepancies are quite large. It is necessary to identify projects that give the greatest deviations in the distribution of budgets and formulate proposals for their transformation. For example, if a lot of funds are invested in high-risk projects, and the emphasis was placed on low-risk ones, then it is worth deciding how to reduce the risk and reduce the share of high-risk projects in the allocation of budgets.

Balancing a portfolio can change the evaluation parameters for attractiveness and manageability, which may not always have a positive effect on portfolio optimization. To control the process of adjusting projects in the target portfolio, it is worth repeating the visualization in the “attractiveness/manageability” quadrant. In practice, it is usually not possible to achieve a fully optimized and balanced portfolio, because PPUs set restrictions and allow only partial transformation of projects.

The optimization and balancing results are displayed on a bubble chart with “attractiveness/controllability” axes

Literature

Kendall, D.I., Rollins, S.K. Modern methods: project portfolio management and the project management office.. - Peter, 2004.
Archibald R. Management of high-tech programs and projects / Russell D. Archibald. Per. from English Mamontova E.V.; Ed. Bazhenova A.D., Arefieva A.O. – 3rd edition, revised. and additional – M.: IT Company; LVR Press, 2004
Matveev A.A., Novikov D.A., Tsvetkov A.V. Models and methods for managing project portfolios. - M.: PMSOFT, 2005. - P. 206.
Journal of Project Management. Chernov. Methods and tools of portfolio management, - No. 1, 2008
Project Management Institute. Standard for Portfolio Management, The. - PMI, 2006. - P. 79. - ISBN 978-19-30-6-999-08

Wikimedia Foundation. 2010.

See what “Project Portfolio Management” is in other dictionaries:

Projects are the application of traditional management for a large class of objects managed using the capabilities of information technology. An example of an IT portfolio would be planned initiatives, projects and ongoing IT services (such as... ... Wikipedia

- (Project Management Office PMO) PMO is a unit that coordinates, summarizes information and centralizes projects attached to it, conducts consolidated monitoring of budgets and schedules of a portfolio of projects, ... ... Wikipedia

To improve this article, it is desirable?: Find and arrange in the form of footnotes links to authoritative sources confirming what has been written. Create interwikis within the framework of the Interwiki project. Add to the article... Wikipedia

This article should be Wikified. Please format it according to the rules for formatting articles... Wikipedia

Program management is the process of managing multiple interrelated projects to improve resource efficiency, reduce risk, and successfully complete each project. In practice and in terms of goals, software ... ... Wikipedia

- (English project management) in accordance with the definition of the international standard ISO 21500, adopted by the governments of the United States, the European Union and the Russian government in September 2012 ... Wikipedia

- (eng. project portfolio) is a set of projects, project programs and other works combined together to achieve more effective management and ensure the achievement of the organization's strategic goals. Contents 1 Portfolio elements ... ... Wikipedia

- is a series of related projects, the management of which is coordinated to achieve benefits and a degree of controllability not available when managing them separately. GOST R 54871 2011 defines 3.11 program: Set of... ... Wikipedia

- (eng. project portfolio manager) is an employee of the project management office with a set of knowledge in the field of portfolio management and project management and is responsible for the analysis, ranking and coordination of existing projects, ... ... Wikipedia

This article should be Wikified. Please format it according to the article formatting rules. Project portfolio balancing (English: Portfolio Balancing) pr... Wikipedia

Books

Project portfolio management as a tool for implementing corporate strategy. Textbook for bachelor's and master's degrees, Kuznetsova E.V. Strategic management is the most important tool when working with an enterprise. This textbook helps economics students understand the features of portfolio management processes...

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The activities of any modern enterprise include the implementation of numerous projects of various scales and different targets. All these projects compete with each other for the limited resources that the enterprise has: equipment, human resources with their knowledge, skills, intellectual potential, technology, finance. With changes in the external environment in which the enterprise operates, the need to implement some projects may become less or completely irrelevant, since as a result of the changes that have occurred, the goals of these projects become irrelevant. At the same time, business needs constantly give rise to new initiatives, which can also become (or not become) projects. Accordingly, an absolutely necessary for an enterprise is a management system that allows you to select the highest priority projects for implementation, effectively distribute limited resources between them and organize implementation control. To understand the approaches to building such a system, let’s first look at the main areas of activity of the enterprise and the place of projects in them.

The activities of a commercial company are usually divided into three main areas - operational (current), investment and financial. Accordingly, the financial flows of an organization are usually analyzed in the context of these three areas of activity, in particular, this is how the “Cash Flow Statement”, which is a mandatory form of financial reporting, is constructed.

Operating (current) activities- the main activity of the enterprise for which it was created, i.e. production and sale of goods, works, services. Operating activities do not include investing in the acquisition of non-current assets. The influx of cash from operating activities is generated from proceeds from the sale of goods, works, and services. And the main cash outflows occur as a result of the acquisition of raw materials, supplies, energy resources, wages, and social insurance payments for employees. Operating activities are cyclical in nature. During one cycle, resources are attracted, the product is produced and sold. By receiving revenue (income), reimbursement of funds spent on production and sales is ensured, and a new production cycle and a new turnover of funds begins, which are used to purchase raw materials, materials, energy resources, and labor to replace those spent.

Investment activities- is an investment and implementation of practical actions aimed at achieving the company’s strategic goals or making a profit. In economics, industrial investments and financial investments are distinguished. In the course of industrial investment, enterprises invest in non-current assets (fixed assets, intangible assets). Financial investments involve the placement of funds in an environment external to the enterprise. The three main goals of financial investments are capital growth due to an increase in the market value of securities and receipt of dividends, expansion of spheres of influence and speculative play on the difference in securities prices. Financial investments can be made by companies specializing in this field of activity, for example, professional participants in the securities market, or by any others pursuing the goals listed above. Investments for the purpose of increasing capital due to an increase in the market value of securities and speculative play on the difference in rates are usually carried out as part of the implementation of enterprise tactics in the field of financial asset management. Expanding spheres of influence by acquiring shares of other companies is carried out as part of the implementation of the corporate strategy. Such investments are usually long-term. The overwhelming majority of investments are made in the form of investment projects. According to the Law of the Russian Federation “On investment activities carried out in the form of capital investments”, an investment project is a justification for the economic feasibility, volume and timing of capital investments, including the necessary project documentation developed in accordance with the legislation of the Russian Federation, as well as a description of practical actions on investment (business plan). The implementation of investment projects involves the abandonment of funds today in favor of making a profit in the future.

Financial activities- this is an activity to attract resources from the external environment by an enterprise. Cash inflows arise when receiving loans, credits, and paying for shares. Outflows - when repaying loans and credits, paying interest, paying dividends.

The vast majority of enterprises carry out projects within the framework of investment activities, since almost every significant industrial investment has its own goal, is unique in nature or scale and is limited in time, i.e. is a project.

There is a specific category of enterprises that carries out projects as part of operational activities, no matter how paradoxical it may seem. These are enterprises that carry out projects for external customers. Such enterprises are usually called project-oriented. The operations of these enterprises are cyclical, but the production cycle consists of completing individual projects, transferring the results to the customer and receiving payment from them. The category under consideration includes research, construction, auditing, consulting, and IT companies, the basis of whose activities is the implementation of a contract portfolio of projects.

Within the framework of financial activities, projects are carried out quite rarely, since attracting financing as such is not an end in itself. In practice, external financing is attracted by enterprises to carry out an investment project or to support operating activities. Although individual large-scale events to attract financing, such as an IPO, for example, involve the implementation of not one, but many projects united by this common goal.

It is obvious that the principles for selecting projects carried out within the framework of industrial investments, financial investments and operating activities are fundamentally different.

Industrial investments, like long-term financial ones, must first of all ensure the achievement of the goals defined by the company's strategy, therefore one of the main criteria for selecting such a number of projects is their contribution to achieving these goals. It is the implementation of portfolios of this kind of projects that is of greatest interest within the framework of this course.

For projects carried out for external customers, the most important indicator for selection is marginal profit, i.e. the difference between revenue and direct project costs. Although in some cases projects may be carried out with low profitability in terms of marginal profit or even unprofitable, the decision to initiate low-margin projects depends on the current business situation.

As noted above, short-term financial investments are more often associated not with strategic, but with tactical management goals. When forming portfolios of short-term financial investments, the criteria of profitability and risk are most often used, between which an optimal balance must be ensured.

Studying the principles and processes of creating external project portfolios and financial investment portfolios is beyond the scope of this course. Therefore, in the future this tutorial will consider industrial investment portfolios, unless otherwise specifically stated in the text.

For further consideration of the project portfolio management processes (PPM), it is necessary to determine the management object itself.

Project portfolio- a set of projects or programs and other works combined together for the purpose of effectively managing these works to achieve the strategic goals of the company. Russian GOST gives a slightly different definition. Project portfolio- a set of components that are grouped together for the purpose of effective management and to achieve the strategic goals of the organization. The components of the portfolio in accordance with GOST are projects and programs. Thus, the Russian standard does not include “other types of work” in the portfolio. These “other types of work” may include work on the formation and maintenance of a portfolio, development of a PPM methodology, training, etc., as well as pre-project and post-project activities. Understanding the importance and significance of such activities and events, we, however, will not consider them in further presentation as components of the portfolio, following GOST, since the main processes of SCP are of little applicability to them. If we strictly follow the above definitions, then the corporate portfolio of projects can only include programs and individual projects. However, practice shows that at large enterprises, additional portfolios of lower levels are formed within the corporate portfolio, to which portfolio management methods are also applied, such as, for example, determining the priorities of the projects included in them.

More accurately project portfolio can be defined as an ordered/ranked set of components, combined based on sources of financing and management, which ensures optimal efficiency in achieving strategic goals in conditions of limited resources, primarily financial, as well as the lowest possible level of risks.

A possible hierarchical structure of the project portfolio is shown in Fig. 5.

Rice. 5.

In this figure, the components of the portfolio are sub-portfolios (otherwise - portfolios of a lower hierarchical level, sub-portfolios), programs and individual projects that are not included in any sub-portfolio or program.

In accordance with the definition of the PMI Institute, which has already become classic, project- this is a temporary enterprise,

designed to create unique products, services or results. The temporary nature of a project means that any project has a definite beginning and end. Completion occurs when the project's objectives are achieved; or it is recognized that the project's objectives will not or cannot be achieved; or the need for the project has disappeared. "Temporary" is not necessary

assumes a short duration of the project. “Temporary” generally does not refer to the product, service, or result created during the project. Most projects are undertaken to achieve a sustainable, lasting result. Each project results in a unique product, service or result.

Programs represent a number of interconnected projects, united by a common goal and conditions of implementation. The result of program execution is a qualitative change in state caused by the implementation of planned tasks. The implementation of a separate project as part of the program may not produce a tangible result, while the implementation of the entire program ensures the achievement of a result that is significant for the enterprise. Combining individual projects into programs is not unique to corporate governance. Thus, examples of programs are the federal target programs: “Development of the military-industrial complex of Russia until 2020”, “Accessible environment”, “Development of physical culture and sports in the Russian Federation for 2006 - 2015”, “Improving road safety in 2013 - 2020."

Shown in Fig. 5, the portfolio structure is typical for a circular, diversified, geographically distributed company, the portfolio of which can consist of several hundred projects. Smaller businesses may use a simplified structure, such as grouping projects only into sub-portfolios or only into programs.

Sub-portfolios are groups of projects united on this or that basis. With a large number of ongoing projects, each of these subportfolios can be further divided into subportfolios of lower hierarchical levels, which in turn combine projects and programs. It should be noted that, unlike projects that make up one program, projects that make up a sub-portfolio are not united by a common goal and are not always interconnected, however, the oggs have common limitations and compete for available resources. Each individual sub-portfolio is subject to the same management principles as the corporate portfolio as a whole.

For the adequate application of approaches and methods of project management, it is necessary that at each specific enterprise, criteria for classifying this or that activity as a project are developed, it is determined when projects should be considered as interrelated, and when we should talk about combining projects into a program.

It should be noted that in real life the boundaries of this or that activity are often arbitrary. So, for one enterprise, opening a new retail outlet is a project, but for another it does not go beyond the scope of operational activities. Refinement of a previously implemented information system that has been functioning for several years can be carried out both as part of a project and as part of routine technical support processes. It must be borne in mind that the emergence of a new management object, for example, programs or sub-portfolios, requires the enterprise to incur additional costs associated with the emergence of new management processes and organizational structures. Therefore, when identifying new management objects, it is necessary to identify the relevant costs for organizing their management. These costs should not significantly reduce the economic benefits received.

In order to classify an activity as a project, it is necessary to take into account the distinctive features of projects defined in the PM standards. Such distinctive features are listed below.

1. Having a fixed goal.
2. Temporary nature of the project. Temporary does not mean short term. This means that projects are not continuous activities.
3. Projects have a clear start and end date. The beginning and end of a project is associated with the implementation of certain procedures, usually regulated by internal documents of the enterprise.
4. Projects use limited resources and have an appropriate budget.
5. The project is closed when its results are achieved or when it turns out that the project's goals are unattainable.
6. A project is considered successful if the result meets the expectations of the customer and key project participants.

However, in each specific case, understanding these features may not be enough to qualify the activity as a project activity. As in the examples above. Therefore, it is advisable for the enterprise to develop additional corporate criteria. These additional criteria can be divided into two groups: scale criteria and management complexity criteria.

Scale criteria include:

total labor intensity in man-days;
cost of work and financial result from implementation. Management costs should not exceed the benefits from implementation;
duration of the process.

Control complexity criteria include:

involvement of employees from several departments;
performance by employees of work beyond the scope of job descriptions;
presence of a customer accepting the work (internal or external);
the presence of several external suppliers and co-executors whose activities need to be coordinated;
lack of experience in performing such work;
territorial distribution of the project team.

In the practice of PM and SPP, so-called Project Passports are often used. Project passport- a document that serves to identify the project and contains a description of its main parameters. The project passport is maintained throughout the entire life cycle of the project. Before the project is initiated, the project initiative is formalized in the form preliminary project passport. Preliminary Project Passports are used to evaluate project initiatives to prioritize potential components of the project portfolio. After a decision is made to open a project, the project passport is approved and receives the status of a valid document - Actual Project Passport. During the implementation of the project, changes are made, if necessary, to the actual Project Passport to ensure its current content. Changes must be made in accordance with the requirements of the enterprise’s internal regulations. After the completion of the project, which is recorded by the appropriate order, making changes to the actual Project Passport is prohibited; the passport, together with all project documentation, is transferred to the archive.

The content and presentation format of the Project Passport are unified within the enterprise in accordance with the specifics of the projects being carried out. Different project passport formats can be used for different types of projects. Additional documents containing, for example, a feasibility study of the project may be attached to the Project Passports. In general, the Project Passport may contain the following sections:

1. Project name.
2. Goals and objectives of the project.
3. Organizational scope.
4. Results of the project implementation.
5. Stages and timing of implementation.
6. Project budget.
7. Justification of the project:
7.1. Business need justification.
7.2. Received business benefits.
7.3. Feasibility study.
8. Project performance indicators.
9. Project risks.

Once a project has been selected for the portfolio and its implementation has begun, current project status and project progress reporting can be added to the items listed above.

The project passport can be presented in the form of a presentation, text file, Excel table, or a combination thereof. Regardless of the format used, this document should contain all the necessary information to evaluate a potential component of the project portfolio against the criteria established by the enterprise. It is necessary to distinguish the Project Passport from the Project Charter. The project charter is a document that formally authorizes the project and serves to document the initial requirements that meet the needs and expectations of the project's stakeholders. Approval of the Project Charter typically concludes the project initiation phase.

Interconnected are projects, which should be included in the portfolio together, since it is impossible or impractical to complete them without excluding at least one project from the group. To determine the degree of interconnection between projects when forming a portfolio, it is used indicator of project connectivity. In the simplest model, it is a numerical indicator that can take the following values: 0 - when projects are not related; I - when projects are related and should not be selected separately into the portfolio (the inclusion of one project in the portfolio necessitates the inclusion of another project); 2 - if the projects are related, but can be selected for the portfolio separately (the inclusion of one project in the portfolio does not necessarily necessitate the inclusion of another project). In more complex models, the connectivity indicator can take on different values within a certain range, for example, from 0 to 10; the higher the indicator value, the higher the degree of interconnection between projects.

The project connectivity indicator is recorded in the connectivity matrix. Connectivity Matrix is a square matrix, the dimension of which is determined by the number of project initiatives and projects included in the list for selection into the portfolio. The number at the intersection of the i-th and j-th rows of the matrix represents the value of the connectivity indicator of these projects.

For management practice, as in the case of project identification, in addition to these general features, it is important to highlight additional criteria to determine what is a “program” and what is simply an ipyiiim of interrelated projects. Having and understanding such criteria is essential to deciding whether to implement program management processes and creating appropriate organizational structures.

Distinctive features of programs that can be deduced from their definition are the presence of a common strategic goal, shared resources, interdependencies of projects, and the need for coordinated management. Additional criteria for classifying ipyinibi interrelated projects as “programs” may be:

duration of the implementation period, for example, over three years;
wide organizational coverage, for example, a group of companies as a whole, including subsidiaries and affiliates;
number of projects, for example, more than three;
obtaining a qualitative change in state as a result of achieving the set goals. For example, a program for launching the production of a new product may include the construction of production facilities, the purchase and commissioning of equipment, the hiring and training of personnel, and advertising events to promote the product.

An example of a corporate IT program is a program for automating budgeting processes that covers a management company and its subsidiaries and affiliates. The program includes the following projects: development of a template solution for automating budgeting processes, implementation of a template solution in a certain pilot zone (a management company and three subsidiaries and affiliates of various profiles), further replication of the template solution to other subsidiaries and affiliates included in the group, expansion of the functional coverage of the template solution. The program is designed for four years and leads to qualitative changes in the field of budgeting.

Typically, the need to organize program-targeted management at an enterprise directly depends on the scale of the business.

Currently, there is no single generally accepted classification of project portfolios. In the economic literature, many approaches to classifying projects for portfolio management purposes are proposed and applied in practice.

Thus, it is possible to group projects into sub-portfolios by functional areas, such as production, economics and finance, sales, etc.; but on a territorial basis (for example: by regions in which subsidiaries and affiliates, branches and territorially separate divisions of the company operate); on specific features of project implementation (for example: capital construction, information technology, development of new products and technologies), etc.

Ten typological characteristics are identified according to which individual components can be combined into portfolios:

by target orientation;
by the degree of connection with the strategy;
by type of asset expansion;
by type of developmental integration;
by the nature of innovation;
by type of built-in options;
but the nature of the interdependence of projects;
by phases of the company's life cycle;
by type of activity;
on the impact on the company's business structure.

A fairly common approach to structuring a project portfolio based on the functional structure of the enterprise. In this case, the corporate portfolio includes sub-portfolios of finance, marketing, sales, supply, production, and personnel management. This approach cannot be considered effective, since, firstly, such a typology is not aimed at ensuring a connection between the portfolios being formed and the strategic goals of the organization, and, secondly, it creates difficulties when classifying complex projects covering several divisions or an enterprise into any category generally.

The following types of portfolios are considered that can be classified as industrial investments:

portfolio of strategic transformations;
process improvement portfolio;
capital investment portfolio;
technological innovation portfolio;
portfolio of supply projects (sales development portfolios, improvement of customer service processes).

It should be noted that this classification has significant advantages over classification based on the organizational structure of the enterprise. However, according to the author, it has the following disadvantage. Typing of portfolios is carried out both on the basis of the degree of connection with the strategy of the enterprise (portfolios of strategic transformations, process improvement, technological innovations), and by type of activity and specific features of implementation

(capital investment portfolios, supply projects). At the same time, capital investments made at the enterprise and sales development projects can, in turn, be aimed at achieving strategic goals and improving existing processes. Therefore, the division of projects into strategic, innovative and process improvement projects is an alternative to the division based on the type of activity, the specifics of project implementation or functional coverage.

Grouping projects according to several different characteristics can be used simultaneously within one multi-level model.

With all the variety of approaches to identifying sub-portfolios within a corporate portfolio, it is necessary that the projects included in them have a significant commonality of characteristics, allowing:

assess and prioritize components for selection into a specific sub-portfolio;
ensure unity of sub-portfolio management;
ensure unity of funding sources;
set and monitor target values of sub-portfolio performance indicators based on the indicators of individual components.

Such characteristics may include implementation and management features, target orientation, implementation of projects within the framework of functional strategies that are subordinate to the corporate strategy (IT strategy, marketing strategy, etc.), organizational and territorial coverage. So, for example, using the division of projects according to the features of management and implementation, and target orientation as the basis for the classification, we can distinguish the following sub-portfolios within the industrial investment portfolio:

portfolio of new construction and technical re-equipment projects;
portfolio of projects to improve operational efficiency;
portfolio of research and development works (R&D);
norgfell infrastructure development projects;
Norgfel of organizational projects;
Norgfel 1T-projects.

In addition to classifying projects into one of the types for inclusion in the appropriate subportfolio, best portfolio management practices recommend further dividing portfolio components into categories in order to further use specific sets of criteria to evaluate projects belonging to each of the identified categories. Thus, the purpose of categorization is to separate portfolio components into homogeneous groups so that they can be measured against a single basis. Such categorization may be based on the degree of connection with the strategic goals of the enterprise. Based on the principle of assessing the contribution of projects of each category to the achievement of strategic goals, we can distinguish:

strategic projects - ensure the achievement of strategic goals and are of high importance for maintaining current activities;
innovative projects - provide significant strategic advantages in the future, but are not of great importance for current activities;
projects to support current activities - are important for current activities, as their name suggests, but contribute little to achieving strategic goals.

Each of the listed categories has its own range of risk values, which allows you to find the optimal balance in the distribution of risks and financing. The practical application of this approach using the example of a portfolio of IT projects is described in section 1.4.

Practical example for section 1.2

1. Description of business information. A group of companies, including several affiliated legal entities, produces and sells optical discs in the Russian Federation (see Fig. 6). Based on the scale of its activities, it can be classified as a medium-sized business. The strategic goal of this group of companies is to become third in the Russian Federation in terms of optical disc production volume and enter the CIS market (at least two countries) within six years.
2. Description of the corporate portfolio of projects. For achievement

Based on the described strategic goal, three portfolios of projects were formed: a general portfolio, a sales development portfolio and a portfolio of IT projects. Due to the fact that the group of companies in question does not carry out its own research and development using existing technologies, and does not make financial investments on a significant scale,

There was no need to form corresponding project portfolios.

The General Portfolio includes the following projects:

organizing your own mastering;
launch of production of CDR, DVDR discs;
development of the security system.

The project of organizing your own mastering is aimed at attracting clients by expanding the range of services provided. Small and medium-sized customers do not have the opportunity to independently produce a master matrix, so they

are interested in finding a manufacturer who will not only print the circulation, but also produce master matrices from the customer’s source materials.

Rice. 6.

The project to launch the production of CDR and DVDR discs is aimed at expanding the range of products and eliminating the import of these goods from abroad. Economic calculations have shown that the cost of domestically produced disks will be lower than imported ones.

The security development project is aimed at complying with copyright laws and combating piracy. Its purpose is to ensure control over the safety of source materials, master matrices, and finished editions of audiovisual works on optical media. The presence of a security system is a serious competitive advantage that attracts clients-right holders.

The Sales Development Portfolio includes related projects aimed at the group of companies entering the CIS market:

conducting marketing research in Belarus, Kazakhstan, Ukraine;
physical organization of offices and warehouses in two countries selected based on marketing results;
registration of legal entities and recruitment of personnel to work in newly created legal entities.

The IT Project Portfolio includes related projects:

organization of barcoding of products;
automation of management accounting in production in real time.

These projects are interconnected and are aimed at providing on-line information about the progress of customer orders at various stages of production (replication, painting and packaging of discs). The presence of this information should ensure a reduction in the time it takes to complete customer orders, which increases the competitiveness and attractiveness of the enterprise in the market.

All selected projects, to one degree or another, contribute to achieving the strategic goal facing the group of companies.

Test questions for section 1.2

1. Give several definitions of the concept “project portfolio” and compare them.
2. What components are included in the project portfolio?
3. Give a definition and brief description of the concept “program”. What do you see as the main difference between programs and project portfolios?
4. Define the project. What criteria can an enterprise use to classify an individual activity as a project?
5. What is the Project Passport document? Describe the purpose and content of this document.
6. What is the difference between the preliminary Project Passport and the actual one?
7. What is the difference between the Project Passport and the Project Charter?
8. What are interconnected projects? What indicator characterizes the degree of interconnection between projects?
9. What is the difference between programs and groups of interrelated projects? What criteria can be used at an enterprise to classify a control object as a program?
10. For what purpose and on what principles are separate sub-portfolios identified within the corporate portfolio of projects?
11. What are the features of the formation and implementation of project portfolios carried out by project-oriented enterprises for external customers?
12. What is the purpose of categorizing projects? Give an example of a possible approach to identifying separate categories of projects included in one sub-portfolio.

Literature for section 1.2

1. Zabrodin Yu.N., Mikhailichenko A.M., Sarukhanov A.M., Shapiro V.D., Olderogge N.G. Management of investment programs and project portfolios: a reference guide. - M.: Publishing House "Delo" ANKh, 2010. - P. 331-336.
2. Illarionov A.V., Klimenko E.Yu., Project portfolio: A tool for strategic enterprise management / A.V. Illarionov, E.Yu. Klimenko - M.: Alpina Publisher, 2013.-P. 13-38.
3. Bogdanov V.V. Project management. Corporate system - step by step // M.: Mann, Ivanov and Ferber, 2012. - pp. 19-23.
4. Anshin V.M., Demkin I.V., Nikonov I.M., Tsarkov I.N., Organization’s project portfolio: strategies, typology, analysis. // Project and program management - 2008.-No. 1(13),-P. 14-27.

Initial Public Offering (IPO) - initial public offering (PPP). The first public sale of company shares, including in the form of the sale of depositary receipts for shares. In Russian practice, the first public offering sometimes also means secondary placements on the market of blocks of shares (for example, the public sale by shareholders of shares of an existing issue). In the modern economic press and literature, the English abbreviation IPO is more often used.
Mastering is the process of creating a reference medium (master matrix) based on source materials, from which further replication will be carried out.