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Project Management - How to: Scoring matrix & Prioritization
Rating: 4.4 out of 5(43 ratings)
214 students

Project Management - How to: Scoring matrix & Prioritization

The art and science of selecting the best projects for the organization.
Last updated 8/2023
English
English [Auto],

What you'll learn

  • Explanation of Project Portfolio Management
  • Understanding of the scoring models and their value
  • Project prioritization with and without strategic alignment
  • What to do about the “Gut Feel” projects?
  • What is a “Kill” category
  • What is a “Halo Effect”

Course content

1 section7 lectures1h 4m total length
  • Introduction7:24

    Dive into project portfolio management and the three BPM pillars, then build a measurable scoring matrix to prioritize projects with and without strategic alignment, while avoiding the halo effect.

  • Project Portfolio Management Overview11:36

    Explore project portfolio management overview, from idea funnel to pipeline and scoring models, balancing high and low risk projects to maximize strategic value.

  • Scoring Models13:02

    Explore how scoring models prioritize projects by evaluating strategic fit, competitive advantage, market share, time to break even, resources, and technical complexity, illustrated with a deregulation case.

  • Halo Effect8:56

    Learn how halo effects bias project scoring in portfolio management, and how to design independent criteria with clear scales and kill criteria for fair prioritization.

  • Prioritization4:36

    Apply a scoring matrix to prioritize project proposals, balancing high scores with cumulative resource limits and strategic alignment to decide which projects to kill, postpone, or reserve.

  • Prioritization with Strategic Alignment5:13

    Prioritize projects by strategic alignment using a scoring model, allocating budgets to breakthrough, enhancement, and maintenance buckets, and killing or postponing lower-priority proposals when buckets fill.

  • The "Gut Feel"13:55

    Examine how gut feel conflicts with a scoring model in project prioritization, especially for regulatory or do-or-die initiatives. Explore the joker concept with examples like ERP upgrades and the iPhone.

Requirements

  • Knowledge of Project Management

Description

Welcome to an online course led by Jamal, an internationally acclaimed expert in project and portfolio management with over 25 years of experience. This course is a result of Jamal's extensive background in project portfolio methodology implementation across various companies worldwide.

Throughout this training, you will delve into the core concepts of project portfolio management, with a particular focus on the significance of scoring models in project prioritization and selection. You will gain insight into the process of identifying appropriate scoring variables, the potential challenges posed by the "halo effect," and the crucial role of measurability in project evaluation.

The course explores different strategies for project prioritization, encompassing both aligned and non-aligned approaches with organizational strategies. By aligning projects effectively, you will optimize resource allocation and enhance the achievement of strategic objectives. Furthermore, you will examine the intriguing concept of the "joker," where projects deemed lower in score may still warrant implementation based on management considerations.

Jamal's expertise extends to a range of industries including banking, finance, retail, e-commerce, oil and gas, and software development. Leveraging his vast experience in managing and recovering troubled projects, Jamal imparts practical insights and actionable techniques.

Through interactive lessons, real-world case studies, and practical examples, this course equips you with the skills necessary to implement scoring matrix methodologies and make informed decisions when it comes to project prioritization. Whether you are a project manager, aspiring professional, or involved in corporate training, this course provides valuable knowledge to excel in the field of project management.

Join us now to gain a deep understanding of effective scoring matrix and prioritization techniques, enabling you to drive successful project outcomes.

Who this course is for:

  • You are a senior executive who needs to prioritize your portfolio of projects and align them with available resources
  • You are a senior project manager who wants to learn more about project portfolio management
  • You are a junior project manager who wants to understand how the project should be prioritized and chosen
  • Any other stakeholders