Presentation:  From Project Management to Portfolio Management - Building Individual Capabilities and Bridging Organizational Gaps

by Dr. Rick Bayney, University of Pennsylvania

Dr. Bayney also maintains a blog which you can visit by clicking here.

an excerpt from the whitepaper is below

"In most industries, including Pharmaceuticals & Biotechnology, Project Management is an entrenched discipline with a lengthy and successful track record that resides within R&D.  Much like Financial and Accounting  disciplines, Project Management has evolved steadily but marginally over the past several decades with the result that its constituent competencies are well defined.  To this extent, the Project Management Institute (PMI) has created and defined 9 Knowledge Areas and 5 Process Groups that appear to encompass the required competencies of Project Management (Figure 1).  Organizationally, Project Management is generally housed within a Project Management Office (PMO) where other disciplines including Project Coordination and Resource Management are located.  Further, it is quite rare to find a PMO aligned structurally outside of R&D.  Functionally, these disciplines are responsible for Project data gathering and consolidation that relates mainly to (a) scope, timeline and budgetary cost, (b) functional resource demand estimation, and (c) stage gate reviews."