Summary of An introduction to portfolio management - the theory and in practice v2

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00:00:00 - 01:00:00

This video discusses the theory and practice of portfolio management. It covers topics such as the definition of portfolio management, the project delivery capability framework, the role of portfolio manager in an organization, and the four-box model for portfolio management. The video also discusses the importance of having a clear understanding of one's strategy, the need to keep track of the impact of changes on that strategy, and the need to adapt as necessary.

00:00:00 This video introduces portfolio management, discussing theory and practice. Sarah, the presenter, then hands over to Petula, who kicks off the live portion of the webinar. Alison, the co-chair of the portfolio management SIG, talks about her background and experience in portfolio management. The webinar moves on to introductions, where it is revealed that the majority of attendees are from the United Kingdom. Alison then goes into detail about the case study she will be presenting, Noah and Sons, and how the tier system will be used to measure performance. After the introductions, Alison asks the audience questions about their experience in portfolio management and how they plan to participate in the webinar. The survey results are then shared, and the webinar wraps up with Alison thanking the participants for their participation.
00:05:00 This video introduces the theory and practice of portfolio management. It covers topics such as the definition of portfolio management, the project delivery capability framework, and the role of portfolio manager in an organization. The video then asks respondents about their typical role in an organization, their experience with change initiatives, and the size of their organization.
00:10:00 Portfolio management is a process that helps an organization make sure that it is doing the right things in accordance with its strategic objectives and ability to deliver. The theory behind portfolio management is that different components of an organization, such as growth, cost reduction, and customer satisfaction, can work in harmony to achieve organizational goals. The process of portfolio management involves selecting and prioritizing the projects and programs that will deliver these objectives, keeping alignment with the vision, goals, and strategy of the organization, and monitoring and managing risks. Reviews of the progress and effectiveness of the portfolio are important to ensure that the right things are being done and that the strategic objectives are being met.
00:15:00 The video introduces the four-box model for portfolio management, which is a simple model used by consultants. The model shows the investment value, investment cost, and risk associated with individual projects. The portfolio manager would use this model to decide if an initiative is worth investing in.
00:20:00 The purpose of portfolio management is to reduce the risk of public projects while achieving the desired outcome. This is done by focusing on the goals and objectives, designing and planning the project, and developing the business case. The stage gate model helps to ensure that projects and programs are managed consistently across a portfolio.
00:25:00 The video discusses the theory and practice of portfolio management, and discusses how an organization can be either formally or informally aligned with portfolio management. It also discusses how portfolio management can be implemented in different ways, and how managing many projects at the same time can be difficult. Finally, the video provides a case study of the YBS, a long-established mutual organization.
00:30:00 The Building Society of Scotland (BSS) has been in business for over 150 years, and has undergone a transformation journey in the past five years to become a more digital-focused organization. While the BSS still has a mix of agile and waterfall projects, it has also developed a federated change model approach to manage business change. In terms of portfolio size, the BSS has reduced its overall portfolio investment size as demand for its products has outstripped what it was able to generate annually.
00:35:00 The video discusses the theory and practice of portfolio management. It discusses the importance of having a risk appetite, understanding strategic priorities, estimating program costs, engaging with stakeholders, and revisiting benefits management. It also discusses the need to be flexible in order to meet changing business needs.
00:40:00 In this video, a portfolio manager explains how he prioritizes investments for his company. He uses a simplified model, and discusses the consequences of changing priorities. He also discusses how portfolio management affects the wider business.
00:45:00 The presenter introduces the concept of portfolio management, outlining the need to have a clear understanding of one's strategy, the need to keep track of the impact of changes on that strategy, and the need to adapt as necessary. He goes on to discuss some of the challenges faced while trying to achieve a transformation portfolio.
00:50:00 The video discusses portfolio management theory and practice, focusing on the case study of YBS. The majority of participants in the video have a formal portfolio governance system in place, with a focus on strategy, project prioritization, and stage gate process. The video also discusses the importance of good governance, the use of a portfolio hierarchy, and the use of dashboards and reporting to monitor portfolio performance.
00:55:00 The video discusses the importance of portfolio management, and points out that it is a challenging task due to the constantly changing business environment. It also discusses the importance of senior management stakeholder buy-in, and how having a portfolio sponsor can help to ensure that the portfolio is successfully managed.

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This video provides an introduction to portfolio management, explaining both the theory and practical applications. It also promotes the free download of a portfolio management guide.