LUMIFY WORK MoP Foundation and Practitioner Combined User Guide

: June 15, 2024
: Lumify Work

Table of Contents

FEATURES
PEOPLECERT AT LUMIFY WORK
WHY STUDY THIS COURSE
WHAT YOU’LL LEARN
COURSE SUBJECTS
WHO IS THE COURSE FOR?
PREREQUISITES
CUSTOMER SUPPORT
References
Read User Manual Online (PDF format)
Download This Manual (PDF format)

LUMIFY WORK MoP Foundation and Practitioner Combined

LUMIFY WORK MoP Foundation and Practitioner Combined

FEATURES

INCLUSIONS
Exam vouchers
LENGTH
5 days

PEOPLECERT AT LUMIFY WORK

Lumify Work is an Accredited Training Organization with Gold status for PeopleCert courses and certifications including PRINCE2, ITIL, MSP, Agile SHIFT, MoP, and P3O. PeopleCert is one of the leading players in the global certification industry, partnering with multi-national organizations and government bodies for the development and management of globally recognised certification schemes.

Peoplecert At Lumify Work

WHY STUDY THIS COURSE

This Combined course is also available as two separate courses: MoP Foundation and MoP Practitioner.

Portfolio management is defined as a coordinated collection of strategic processes and decisions that together enable the most effective balance of organisational change and business as usual.

Management of Portfolios (MoP) approaches the management of change projects and programmes from a strategic viewpoint. It provides an overview of all change activities, including what is in the portfolio, what it is costing, what organisational and implementation risks are faced, what progress is being made, and most importantly what the impact on business as usual and organisational strategic objectives is.

MoP builds on and co-ordinates existing processes such as strategic planning, investment appraisal and programme and project management to be effective and add value.

Portfolio management addresses the fundamental questions:

Are we doing the right things?
Are we doing these things right?
Most significantly, are we realising all the benefits in terms of more effective services and efficiency savings from the changes we are implementing?

MoP is based on five flexible principles which provide the foundation for successful Portfolio Management practice, in terms of:

My instructor was great being able to put scenarios into real world instances that related to my specific situation.

I was made to feel welcome from the moment I arrived and the ability to sit as a group outside the classroom to discuss our situations and our goals was extremely valuable.

I learnt a lot and felt it was important that my goals by attending this course were met.

Great job Lumify Work team.

AMANDA NICOL
IT SUPPORT SERVICES MANAGER – HEALTH WORLD LIMIT ED

Senior Management Commitment: Any change initiative struggles without it, so top-level support comes first in MoP’s list. Change initiatives must have public champions to communicate the value and benefits of Portfolio management. They need to use both the stick and carrot – ensuring compliance with PfM standards and personally demonstrating the behaviors essential to the success of the Portfolio. So, no ‘pet projects’ – not even the Chief Executive’s!
Governance Alignment: Without proper governance – including clarity about what decisions are made – PfM will fail. MoP provides examples and diagrams of a successful Portfolio governance structure – from Programme and Project Mangers up through the Portfolio Progress Group to the Director / Investment Committee level. Supporting these are the P3O model and, working alongside them: Business As Usual areas that will be impacted by the change. A full set of role descriptions are provided in the MoP manual as ready-to-use templates.
Strategy Alignment: Change initiatives which do not deliver benefit = waste and confusion. The ultimate objective of PfM is to achieve the strategic objectives of the organisation. MoP suggests a driver based model starting with very high level strategy, down to strategic objective then benefits and finally, change initiatives that will deliver them. It provides useful, practical, examples for the private and public sectors.
Portfolio Office: There has to be a business area which provides up to date and accurate information to allow good decision making by Portfolio Managers. This is the role of the Portfolio Office and this MoP principle is strongly linked to the OGC standard: P3O. MoP shows different P3O models including linked (but temporary) Programme and Project offices as well the permanent Portfolio office and aligned Centre of Excellence.
Energised Change Culture: The success of the Portfolio depends as much on people as process so this principle recognises the need for an engaged team working together to define and deliver the Portfolio. Here, MoP gets into the ‘softer side’ by looking at areas such as communication, the learning organisation and listening and engagement with staff.

Lumify Work
Customized Training

We can also deliver and customize this training course for larger groups saving your organisation time, money and resources.

For more information, please contact us on tel: 02 8286 9429

Examination
This course pricing includes vouchers for the MoP Foundation Exam and MoP Practitioner Exam, which are online proctored exams through PeopleCert. Practice exam papers are provided in the course, and reviewed to assist in preparation.

The Foundation exam is:

40 minutes duration
50 multiple choice questions
Pass mark is 25 out of 50 (i.e. 50%)
Closed book

The Practitioner exam is:

3 hours (180 minutes) duration
Objective testing multiple choice questions
Pass mark is 40 out of 80 (i.e. 50%)
Open book (Management of Portfolios official publication only)

After passing the exams, each student’s certificates will be made available to them via PeopleCert.

It is highly recommended that you spend some time each evening of this course reviewing and consolidating what you’ve learned, to be well prepared for the exams.

WHAT YOU’LL LEARN

Learning Objectives

To prepare candidates with sufficient knowledge and understanding to work as an informed member of a portfolio, programme or project management team.

To furthermore prepare candidates to be able to apply and understand how to tailor MoP effectively in terms of business case definition, implementation of portfolio management, selection and adaptation of MoP principles, practices and techniques and the evaluation and analysis of solutions related to a given scenario.

Successful completion of this course will enable participant s to:

Understand: Portfolio Definition must start with the Understand practice – it is essential to get a clear and transparent view of what is in the current portfolio and the project development pipeline as well as performance to date and, looking forward, the forecast costs, benefits and risks to delivery and benefits realization. MoP sets out the keys to success and explains how to go about each one.
Categorize: Once the Understand practice is complete the change initiatives (project and programmes) can be categorized so that senior decision makers can make decisions in areas like priority of resources and strategic alignment. MoP gives several examples drawn from real life experience from different industries.
Prioritize : This orders the projects and programmes – often along financial lines – and MoP gives examples of metrics that can be used such as NPV, IRR and Payback. “Money isn’t everything” however so MoP also describes multi-criteria analysis used by some organizations using factors such as “return on attractiveness” and the “risk or achievability” of each change initiative.
Balance: Prioritization results in a ranked list of change but the purpose of the balance practice is to make sure that the resulting portfolio is balanced in terms of time, coverage of strategic objectives, impact progress is on track against the portfolio strategy and delivery plan (typical contents for both are included in the MoP manual).

COURSE SUBJECTS

Management Control – this practice is about making sure that across the business, risk : return and available resources. MoP provides an example of how Aston Martin, the luxury car manufacturer, balanced its IT Management control includes the creation of consistent business cases which can demonstrate the strategic contribution of change initiatives.
Plan: The final practice of the Definition cycle collates information to create a portfolio strategy and delivery plan which will be approved by the benefits being realized from the portfolio. This includes areas such as benefits categorization (common approaches are suggested), a portfolio level benefits realization plan and the arrangements for benefits tracking.
Financial Management – includes investment criteria and financial metrics, rules to standardize cost forecasting, efficiency savings and limits for reporting variances.
Risk Management – provides a consistent approach across the portfolio including dependencies. MoP sets out some of the key challenges to dependency management and suggests sample solutions which can be used by the portfolio executives.
Stakeholder Engagement – this practice provides a coordinated approach to stakeholder engagement and communication so that the needs of the portfolio’s customers are identified and managed and stakeholder support for the portfolio is gained by effective consultation and involvement in the definition and delivery of the portfolio. Modern approaches are encouraged – even Twitter gets a mention!
Organizational Governance – this must include a vision about what the portfolio is designed to achieve, role profiles (in the MoP manual), stage gates and escalation paths with tolerance limits along with regular reviews of the business case and progress. The portfolio office has a key role to play here.
Resource Management – at some level the amount of resource available to deliver change is restricted. Most organizations have more ambitions than people so the supply and demand has to be balanced and where there are gaps these must be filled by recruitment, external resource or staff development.

WHO IS THE COURSE FOR?

Portfolio Managers
Programme Managers
Project Managers
Senior Executives
Portfolio, Programme and Project Management Support Office Staff

We can also deliver and customize this training course for larger groups – saving your organisation time, money and resources. For more information, please contact us via email on ph.training@lumifywork.com

PREREQUISITES

This course has no prerequisites, however the following would be an advantage:

Previous or current experience of working within project, programme and portfolio environment.
Previous training and development in programme or project management.
Currently practicing as a programme or project manager.
Previous experience working in senior management, leadership or executive role.

The supply of this course by Lumify Work is governed by the booking terms and conditions . Pleas e read the terms and conditions carefully before enrolling in this course, as enrolment in the course is conditional on acceptance of these terms and conditions.