Project Portfolio Management: How to Craft a Portfolio in 5 Steps

The video introduces the DDAPM framework for creating strategic portfolios, focusing on five key steps: Destination, Direction, Alignment, Prioritisation, and Management. It explains how to determine an organization's strategic destination, align projects with strategic goals, prioritize based on importance and urgency, and manage the delivery of projects. The framework emphasizes balancing risk and reward, strategic redundancy, and flexibility to adapt to future changes.

What does the DDAPM framework stand for?

• Development, Direction, Analysis, Prioritization, Management

• Destination, Development, Analysis, Planning, Management

• Destination, Direction, Alignment, Prioritization, Management

• Direction, Destination, Alignment, Planning, Management

Which documents help in understanding an organization's strategic destination?

• Financial statements

• Mission and vision statements

• Market analysis reports

• Employee handbooks

What is the primary goal when determining the direction of an organization?

• To increase employee satisfaction

• To reduce operational costs

• To align with competitors

• To reach the strategic destination

What might strategic redundancy in projects lead to?

• Increased risk of failure

• Faster project completion

• Higher costs but reduced risk of failure

• Decreased project complexity

Why might an organization consider strategic misalignment?

• To ensure all resources are used efficiently

• To prepare for unforeseen future changes

• To reduce project costs

• To align with current market trends

What is a key factor in prioritizing projects and programs?

• Importance and urgency

• Project location

• Project manager's experience

• Employee preferences

What should be considered when scheduling projects?

• The length of the project description

• The number of stakeholders involved

• The sequence and timing of projects

• The availability of office space

What is the role of a project or program sponsor?

• To handle financial transactions

• To manage day-to-day operations

• To provide strategic oversight and support

• To recruit project team members

What is the purpose of a strategic chart in project management?

• To display employee performance

• To track daily project activities

• To show the overall picture of the portfolio

• To list all company assets

What kind of support can a PMO provide?

• Legal advice

• Good practice, assurance, and staffing services

• Financial auditing

• Marketing strategies