Lesson 1: What is Product Portfolio Management?

Welcome to Lesson 1. Before you start, please take a minute and check what your virtual assistant wants to tell you:

A product portfolio is defined as “A set of projects or products that an organization is investing in and making strategic trade-off against” (1)

“A portfolio is a collection of programs, projects, and/or operations managed as a group. The components of a portfolio may not necessarily be interdependent or even related – but they are managed together as a group to achieve strategic objectives” (2)

“There are two ways for a business to succeed at new products: doing projects right and doing the right projects. Portfolio management is about doing the right projects!” (3)

Goals of product portfolio, according Cooper (4):

Key characteristics of Portfolio Management are:

Commonly used project or product types are (5):

Watch the following video to see what the 5 steps of Project Portfolio Management are:

References

1) Kahn, K 2013. PDMA Handbook 3rd Edition, Wiley

2) Project Management Institute, PMBoK 2013

3) Belliveau et al, 2002, The PDMA Toolbook for New Product Development

4) Cooper et al, 2015, Portfolio Management: Fundamental for new product success

5) Anderson, M. Allan, Product Development and Management Body of Knowledge, PDMA, 2017

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