PMI Portfolio Management Professional® (PfMP®)

This accelerated Project Management Institute (PMI)®Portfolio Management Professional (PfMP)® course, offers a professional credential for portfolio management professionals, known as the Portfolio Management Professional (PfMP)®.

PMI’s professional credentialing examination development processes stand apart from other project management certification examination development practices. PMI aligns its process with certification industry best practices.

The Portfolio Management Professional (PfMP) signifies your advanced competency in the coordinated management of one or more portfolios to achieve strategic objectives.

At the end of this course, you‚Äôll sit the PMI exam, and achieve your PMI - Portfolio Management Professional (PfMP)® certification. Through Firebrand‚Äôs Lecture | Lab | Review methodology, you‚Äôll get certified at twice the speed of the traditional training and get access to courseware, learn from certified instructors, and train in a distraction-free environment.

Audience

This course is ideal for:

• Executive or senior-level practitioners managing a portfolio of projects and programs

Module 1: Strategic Alignment

The Strategic Alignment domain includes the continuous activities necessary for aligning portfolio components (programs, projects, and operations) with organizational strategic objectives, goals, and priorities. Portfolio strategic alignment also involves recommending portfolio scenarios and related components to create an initial high level portfolio roadmap.

• Evaluate organizational strategic goals and objectives using document reviews, interviewing, and other information gathering techniques in order to understand the strategic priorities.
• Identify prioritization criteria (e.g., legislative, dependencies, ROI, stakeholder expectations, strategic fit) using information gathering and analysis techniques in order to create a basis for decision making.
• Rank strategic priorities working with key stakeholders and using qualitative and quantitative analyses in order to provide a guiding framework to operationalize the organizational strategic goals and objectives.
• Identify existing and potential portfolio components by reviewing documentation such as business plans/proposals in order to create portfolio scenarios.
• Create portfolio scenarios (what-if analysis) by reviewing components against prioritization criteria and using analysis techniques (e.g., options analysis, risk analysis, SWOT analysis, financial analysis) in order to evaluate and select viable options.
• Recommend portfolio scenario(s) and related components, based on prioritization analysis/criteria, in order to provide governance with a rationale for decision making.
• Determine the impact to portfolio and portfolio components due to changes in strategic goals and objectives, in order to sustain strategic alignment.
• Create high level portfolio roadmap working with key stakeholders using prioritization, interdependency analysis, and organizational constraints in order to confirm and communicate the portfolio components sequencing, dependencies, and strategic alignment.

Module 2: Governance

The Governance domain includes activities related to establishing the governance model, developing the portfolio management plan, and approving the portfolio. Tasks in the Governance domain ensure that portfolio components are authorized and processes and procedures are developed and continuously improved.

• Define and establish a governance model including the structure (including but not limited to steering committees, governance boards), policies, and decision-making roles, responsibilities, rights and authorities in order to support effective decision-making and achieve strategic goals.
• Determine portfolio management standards, protocols, rules, and best practices, using organizational assets (such as information systems, subjectmatter experts) and industry standards in order to establish consistent portfolio management practices.
• Define and/or modify portfolio processes and procedures including but not limited to benefits realization planning, information management, performance, communication, risk management, stakeholder engagement, resource management, and change management in order to manage the portfolio efficiently and effectively.
• Create the portfolio management plan including, but not limited to, roles and responsibilities, governance model, escalation procedures, risk tolerances, and governance thresholds, change control and management, key performance indicators, prioritization model, and communication procedures using standards, models, and other organizational assets in order to ensure effective and efficient portfolio management.
• Make recommendations and obtain approval regarding portfolio decisions (e.g, components, plans, budget, roadmap) through communication with key decision makers as defined by the governance model, in order to authorize the execution of the portfolio.

Module 3: Portfolio Performance

The Portfolio Performance domain includes the activities required for managing the portfolio using the portfolio processes as defined by the governance model; continuously monitoring and evaluating the performance of the consolidated portfolio components in order to balance the portfolio; and reporting on progress towards the achievement of strategic objectives.

• Initiate the portfolio using the portfolio roadmap and supporting artifacts in order to authorize the portfolio structure and activate the components.
• Collect and consolidate key performance metric data, as defined by portfolio governance and using various techniques, in order to measure the health of the portfolio.
• Monitor the portfolio performance on an ongoing basis, using reports, conversations, dashboards, and auditing techniques in order to ensure portfolio effectiveness and efficiency and maintain strategic alignment.
• Manage and escalate issues by communicating recommended actions to appropriate decision makers for timely approval and implementation of proposed solution(s).
• Manage portfolio changes using change management techniques, in order to improve portfolio performance and maintain strategic alignment.
• Balance portfolio and prioritize portfolio components, using established criteria and methods in order to optimize resource utilization and achieve strategic portfolio objectives.
• Analyze and optimize the consolidated allocation/reallocation of capacity (e.g., people, tools, materials, technology, facilities, financial) using supply/demand management and scenario analysis techniques to ensure portfolio efficiency and effectiveness.
• Update and refine existing portfolio road maps, using change analysis in order to facilitate re-allocation of organizational resources to the portfolio.
• Measure the aggregated portfolio performance results against the defined business or strategic goals and objectives in order to demonstrate progress toward the achievement of business or strategic goals.
• Maintain records by capturing portfolio artifacts, such as approvals, prioritizations, and other decisions, in order to ensure compliance with organizational policies, regulatory requirements, and portfolio management standards.

Module 4: Portfolio Risk Management

Portfolio Risk Management includes activities related to the balancing and management of portfolio risk consistent with the risk appetite of the organization and facilitates decision making.

• Determine acceptable level of risk for the portfolio, based on organizational and stakeholder risk tolerances, in order to provide input to governance.
• Develop the portfolio risk management plan, using governance risk guidelines, processes, and procedures and other organizational assets in order to capitalize on opportunities, and respond to risks.
• Perform dependency analysis to identify and monitor risks related to the interdependencies and intradependencies within or across portfolios in order to support decision-making.
• Develop, monitor, and maintain portfolio-level risk register, including risks to strategic goals and objectives, to business value, and escalated from portfolio components, using risk management processes in order to support decision making.
• Promote common understanding and stakeholder ownership of portfolio risks, through communications with stakeholders, in order to facilitate risk response. Task 6 Provide recommendation and obtain approval for a portfolio management reserve, based on aggregate portfolio risk exposure, in order to optimize portfolio strategic goals and objectives.

Module 5: Communications Management

The Communications Management domain includes activities related to continuously communicating with stakeholders; understanding their needs and expectations; addressing issues as they occur; managing conflicting interests; and fostering appropriate stakeholder engagement in portfolio decisions and activities.

• Analyze internal and external stakeholders using techniques such as meetings, interviews, surveys/questionnaires, in order to identify stakeholder expectations, interests, and influence on the success of the portfolio.
• Create the aggregate communication strategy and plan, including methods, recipients, vehicles, timelines and frequencies in order to enable effective communication to stakeholders.
• Engage stakeholders, through oral and written communication, to ensure awareness, manage expectations, foster support, and build relationships and collaboration for the success of the portfolio roadmap.
• Maintain the communication strategy and plan by evaluating current communications capabilities, identifying gaps, and documenting communications plan to meet stakeholder requirements.
• Prepare and/or facilitate stakeholder understanding of portfolio managementrelated processes, procedures, and protocols using organizational assets (e.g., information systems, training delivery methods) in order to promote common understanding and application of the portfolio management process.
• Verify accuracy, consistency, and completeness of portfolio communication, utilizing governance guidelines, to maintain credibility and satisfaction with all stakeholders.

Before attending this accelerated course, you should have:

• A minimum of 96 months of professional business experience within the last 15 years
• Secondary degree
• 84 months of portfolio management experience

OR

• A minimum of 96 months of professional business experience within the last 15 years
• Four-year degree (bachelor‚Äôs degree or the global equivalent)
• 48 months of portfolio management experience

At the end of this accelerated course, you’ll sit the following exam at the Firebrand Training centre, covered Certification Guarantee:

PMI - Portfolio Management Professional (PfMP)® exam

• Duration: 4 hours
• Format: 170 multiple-choice questions
• Number of questions: 170 questions
• Domains:
• Strategic Alignment 25%
• Governance 20%
• Portfolio Performance 25%
• Portfolio Risk Management 15%
• Communications Management 15%