Page 144 - Organizational Project Management

Appendix I—Program and Portfolio Management Process Models

folios, the process groups may be a reasonable approximation, but some of
the constituent processes may not apply in a portfolio context. Neverthe-
less, all things considered, the idea of applying the process groups and their
constituent processes to this construct is a good first iteration that can be
refined by other Standards project teams. The next edition of OPM3 should
benefit from improvements in this concept, to be developed over the next
few years.
Much of the concept of maturity is based on process standardization,
measurement, control and continuous improvement. The theory is that one
cannot standardize a process without being able to describe and define it
first. For example, an explanation of the process of Portfolio Management
should:
■ Specify inputs, outputs, and tools and techniques appropriate for the
processes that comprise Portfolio Management
■ Identify the interactions with processes from the other domains of Pro-
gram and Project Management. (OPM3 defines three domains: Project
Management, Program Management, and Portfolio Management.)
■ Show how the Portfolio Management process goes beyond the metaphor
of managing investments
■ Describe much of the organizational general management processes,
with the exception of business processes.
Although it was not within the scope of OPM3 to obtain consensus from
the profession on these processes, the Portfolio and Program Management
processes outlined here do:
■ Describe many organizational general management processes
■ Utilize the same framework as the Project Management process
described within the process groups in the PMBOK Guide—2000 Edi-
®
tion, making it easier to understand interactions between process
domains
■ Provide a framework for the creation of policies, governance, tools and
techniques, and other supporting mechanisms
®
■ Maintain consistency with the PMBOK Guide—2000 Edition.

CONSTRUCTION OF THE PROCESS MODELS
A team was formed to develop a process model that would address Port-
folio and Program Management processes, and would be consistent with
®
the PMBOK Guide. After much discussion, several iterations, and feedback
from a Standards Open Working session, the team agreed to use the process
framework as documented by the process groups in the PMBOK Guide,
®
and to extend it to the domains of Program Management and Portfolio Man-
agement. Each domain consists of five process groups, which collectively
consist of a number of core and facilitating processes.
Each process within the respective process groups in each domain trans-
forms a set of inputs into the specified outputs. Tools and techniques are
resources or other mechanisms that support the execution of the process.
In addition, the method used to develop the process model included a new
attribute, called controls. Controls are activities, policies or procedures that
govern the execution of the process, so that the process operates in a con-
sistent, predictable manner.

128 ©2003 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA