Abstract: Since project portfolio management emerged gradually since the 1980s, practitioners have experienced significant variations in practice. Research in this arena is comparably sparse and with a widening gap between research and practice. To address this growing concern, PMO Advisory initiated an exploratory empirical study that examines the landscape of project portfolio management practice. This research currently has responses from over 160 project portfolio management professionals from a variety of industries, geographies, organization sizes, and level of portfolios.
The findings, which we will share in this presentation, reveal a complicated and widely diverse practice of project portfolio management (PPM), showing a complex and varied landscape. Based on a ton of responses and data, we will share the selective findings, addressing questions such as 1) Where do portfolios exist in organizations; 2) Are professionals working full-time on portfolio management or do they have other responsibilities; 3) How accountable are portfolio managers to their portfolios; 4) Is there a portfolio life cycle; 5) How many components are there in a portfolio; 6) How are portfolio components funded? 7) What are the top objectives of portfolio managers; 8) Do portfolios have structured management processes? What is
the prevailing maturity level of portfolio management?
To conclude the presentation, the speaker, who is the current chair of PMI’s standard committee developing the next edition of the Standard for Portfolio Management will provide a broad overview of the progress.
PMI Talent Triangle: Ways of Working
Biography: Prof. Dr. Te Wu is the CEO and CPO of PMO Advisory, a consultancy and a PMI Authorized Training Partner. PMO Advisory is dedicated to project management, offering rare classes such as Portfolio Management Professional (PfMP) and Program Management Professional (PgMP) bootcamps. He is also an Associate Professor at Montclair State University, and he previously taught at Stevens Institute of Technology and China Europe International Business School (CEIBS). With over 30 years of professional experience specializing in strategy execution, Te is certified in portfolio (PfMP), program (PgMP), project (PMP), and risk (PMI-RMP) management. Te holds multiple degrees including a doctoral, two masters, and two bachelor’s degrees in engineering, business, and philosophy.
Te is an avid volunteer with professional organizations, where he is currently serving as a chairperson for Project Management Institute’s (PMI) standard committee developing the next Standard for Portfolio Management (5th edition). He previously served on the Standard for Portfolio Management 4th Edition and The Standard for Risk Management in Portfolios, Programs, and Projects. In addition, he was a team lead on the US team working with the ISO Technical Advisory Group 258. He has published multiple books, research articles and case studies, and business articles. He is frequently mentioned in the press, appeared in podcasts, and spoke at professional forums. As a practitioner, executive, teacher, writer, and speaker, Dr. Wu enjoys sharing his knowledge and experiences and networking with other professionals.