Program Title: From Project Management to Portfolio
Management – Bridging the Competency and Organizational
Activity Sponsor: PMINJ Chapter (C020)
meeting slides can be downloaded.
Richard M. Bayney
To many of us, Portfolio Management is a logical extension of Project Management.
Yet, we cannot apply exactly the same principles to Portfolio Management
as we do to Project Management. So, how do we maximize the value of a portfolio
consisting of many projects (and programs) subject to constrained budgetary
and human resources on an ongoing basis? Join us at the May Monthly Program
Meeting and learn about a new framework for maximizing portfolio value from
Richard M. Bayney, Ph.D.
A classic technique used to manage a portfolio of projects (and programs)
is to prioritize such assets on one or more quantitative (e.g., NPV) and
qualitative (e.g., strategic value) criteria and to ‘draw the line’ when one
or the other resource runs out. But, how do we know that the sum of all projects
‘above the line’ represents the highest value that can be created i.e., the
best utilization of those resources? To better understand how constrained
budgetary and human resources can be best utilized in a portfolio of non-discretionary
and discretionary assets, a new Portfolio Management framework - CREOPMTM
- is described. This framework has been utilized successfully across multiple
industries that include Pharmaceuticals & Biotechnology, Consumer Goods,
and Healthcare Risk Insurance.
Richard M. Bayney is President and Founder of Project & Portfolio
Value Corporation (PPVC) a consulting company that provides Training Services
in Project, Portfolio, Resource and Risk Management and delivers customized
services in a focused spectrum of areas including Enterprise Resource and
Portfolio Management and Strategic and Business Planning. From 2002 until
2008 Richard was Vice President, Decision Analysis and Portfolio Management
at Johnson & Johnson's Pharmaceutical Research and Development (PRD) where
he was responsible for: decision analysis support of compound development
teams for stage-gate decision-making in early and late clinical development;
risk assessment and portfolio impact analyses of licensing opportunities;
analytical and strategic project and portfolio support to therapeutic area
centers of excellence; and portfolio management support for PRD, from drug
discovery to late clinical development. Prior to Johnson & Johnson, he
held positions at Bristol-Myers Squibb, Bayer Corporation, Merck & Company,
and Bayer Corporation/A.G.
Dr. Bayney is a frequent speaker in the area of "Risk Analysis, Asset
Evaluation, and Portfolio Management in Drug Development" He is also an
Advisory Board member to Cambridge Healthtech Institute. He holds M.Sc.
and Ph.D. degrees from London University and an M.B.A. from Columbia University.
Topic: The Cycle of Renewal
How well do you
deal with change? Learn to recognize, evaluate and take action
around choices that support success during periods of stability, as well
as times of transition. The Cycle of Renewal* provides a process and
some tools to help you understand the natural, predictable cyclical patterns
Join Mary Anne Walk, Executive Director of the Gestalt International Study
Center, www.gist.org, of Wellfleet, MA, whose Cycle of Renewal provides the
means to guide you in a customized approach to your specific challenges,
while building problem-solving capabilities for the future.
Topic: Meet and Greet Networking Event
The NJ PMO LCI Core Team will have a
"Meet & Greet" Networking Event prior to the monthly meeting. The meeting
will be held outside the main meeting room. This will be a great opportunity
to meet other PMO Professionals in the area, who share similar interests
in Project, Program and Portfolio Management.