Personal GrowthProject Portfolio Management

How to Ace the Role of a Project Portfolio Manager

To take up a project portfolio management role, you need to stand out in the crowd by dint of your skills and eagerness. There are several different project management roles out there and they follow different management approaches. However, all these roles demand some common qualities from an aspirant. In this article at Wrike Blog, Brianna Hansen points out the skills of a portfolio project manager.

Understanding the Role and Its Responsibilities

All project managers must be skilled in administrative tasks and be very diligent about deadlines. They should also have expertise in handling and scheduling available resources while keeping a sharp eye on the project budget. These skills come with experience. So, if you are planning to take up a project portfolio manager role, get basics of the role and its responsibilities right.

Defining Project Portfolio Management

Project portfolio management is the grouping and executing of existing or future projects or programs as per standard processes, methodologies, and tools so that it is easier to monitor, implement, and manage them. You must analyze the feasibility of initiating or continuing a project based on its alignment with the company’s goals. These projects or programs also need to fulfill the expectations of end users, stakeholders, resources, and related influencers. As per Bob Buttrick, a project manager, a project manager must implement a project in the best way possible and a portfolio manager must enable these best projects to perform well.

Role of a PPM Manager

As a project portfolio manager, you should be handling multiple projects and ensure that they are aligned with the company objective to derive business benefits optimally. The main difference between your role and that of a project manager is, a project management role demands to oversee one or two projects within a specific deadline settled by you in coordination with the customer, project sponsor, or stakeholder.

As a PPM manager, you can earn anywhere between $62,638 and $145,972 per annum. It means the average wage of a project portfolio manager is $89,690. You should be responsible for supervising scheduling, progress, and execution by making use of IT solutions, standards, and best practices. You must create, formalize, and monitor the ethics and processes so the projects or programs meet client requirements in terms of time, cost, and scope.

Additional Links

Hansen has also shared additional links to help you get the foundation in project portfolio management right before taking up this role.

To view the original article in full, visit the following link: https://www.wrike.com/blog/takes-project-portfolio-manager/

Indrani Roy

Indrani Roy is currently working as a Content Specialist for CAI Info India. She has knowledge in writing blogs, product descriptions, brand information, and coming up with new marketing concepts. Indrani has also transcribed, subtitled, edited, and proofread various Hollywood movies, TV series, documentaries, etc., and performed audio fidelity checks. She started her career by articulating a knowledge base for an IT client, and, eventually, went on to create user manuals and generate content for a software dashboard. Writing being one of her passions, reading books is naturally her favorite pastime. When not lost in the world of letters, she is a foodie, movie buff, and a theater critic.

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