Managing Engineering Projects, Programs, and Portfolios

In Managing Engineering Projects, Programs, and Portfolios, you'll learn ...

• The distinctions and relationships between project, program, and portfolio management in an engineering context.
• The application of industry standards, principles, and performance domains to engineering portfolios, programs, and projects.
• The governance structures, roles, and organizational models used to manage groups of engineering projects.
• How coordinated portfolio and program management supports strategic alignment, risk reduction, and organizational goals.

Overview

Preview a portion of this course before purchasing it.

Credit: 2 CPD

Length: 39 pages

Groups of related engineering projects can be managed as a program. And a collection of active projects and programs is referred to as a portfolio. Applying special management methods to such groups of projects results in gains in efficiency, quality improvements, and risk reduction. This is especially true for complex multidiscipline engineering projects, where lessons learned in one project can be immediately applied to other related projects.

Hence, engineering projects may be subject to program management and portfolio management procedures, in addition to typical project management procedures. Standard procedures include governance structure, change approval requirements, protocols, standard forms and templates, and budget reporting requirements. Applying these procedures at the program and portfolio level can make a big difference in the success of each project.

This course introduces and compares project, program and portfolio management practices. For each, the following are reviewed: standards, principles, performance domains, phases, management plans, and key performance indicators. The reader will gain an understanding of how portfolios, programs, and projects fit together to bring about the success of engineering projects.

Specific Knowledge or Skill Obtained

This course teaches the following specific knowledge and skills:

• The defining characteristics and management purposes of portfolios, programs, and projects within engineering organizations.
• The roles, responsibilities, and authority of portfolio directors, program managers, and project managers.
• The function and value of PMOs and PPMOs in establishing standards, oversight, and performance consistency.
• The portfolio management principles that guide strategic decision-making and resource optimization.
• The portfolio performance domains used to translate principles into actionable management practices.
• The development and use of portfolio roadmaps to visualize priorities, timelines, and strategic alignment.
• The methods used for project selection, prioritization, and approval within an engineering portfolio.
• The program management principles, phases, and performance domains that support coordinated delivery of benefits.
• The comparison of management plans, KPIs, and performance criteria across portfolio, program, and project levels.
• How engineering organizations measure success through benefit realization, performance outcomes, and continuous improvement.

Certificate of Completion

You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 12 questions. CPD credits are not awarded until the course is completed and quiz is passed.