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Portfolio Management Professional (PfMP)® Training

  • Training Duration:
  • 3 Days
  • Training Environment:
  • On-site at the Institution
  • In DVA Classrooms
  • Online
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About the Training

The Portfolio Management Professional (PfMP)® Training is a certification program offered by the Project Management Institute (PMI). PfMP is a professional certification in portfolio management. It requires expertise in effectively evaluating and managing the portfolio management process, portfolio management capabilities, and portfolio performance.

The PfMP certification aims to recognize professionals who demonstrate the necessary skills to understand corporate portfolio management arrangements, develop and implement portfolio management strategies, manage risks, optimize portfolio management processes, and monitor portfolio performance.

This training is designed for professionals working in portfolio management and those in leadership roles within the portfolio management function. It is also suitable for other professionals who are directly or indirectly involved in the portfolio management process. The certification is intended to help certified professionals work effectively in portfolio management processes.

The PfMP certification is for professionals who want to demonstrate their expertise in portfolio management. The training involves a rigorous exam and certification process. The certification process consists of five main steps:

  1. Application: To begin the certification process, you must first meet the requirements set by PMI. These include at least 8 years of project management experience and at least 4 years of portfolio management experience.
  2. Exam: The exam tests your skills in topics such as the portfolio management process, portfolio management strategies, risk management, and monitoring and evaluating portfolio performance. The exam consists of 170 multiple-choice questions and lasts 4 hours.
  3. Approval: After passing the exam, you need to receive PMI approval for PfMP certification.
  4. Certification: Certification confirms that you meet all the requirements for PfMP certification.
  5. Maintenance: To maintain PfMP certification, you must earn a certain number of professional development units (PDUs) as determined by PMI at regular intervals.

The Portfolio Management Professional (PfMP)® Training certification helps professionals in portfolio management advance their careers. It also enhances job opportunities and increases earning potential. Additionally, it provides the ability to manage the portfolio management process more effectively and improves your skills in portfolio management.

What Will You Learn?

The PfMP certification helps professionals working in portfolio management specialize in managing portfolio management processes. While preparing for the PfMP exam, you will gain knowledge in the following areas:
  • Developing a portfolio management strategy: You will learn all the steps required to create a portfolio management strategy. These steps include guidelines for creating, implementing, monitoring, and updating the strategy.
  • Portfolio management processes: You will learn the skills needed to understand and efficiently implement portfolio management processes. These processes include setting portfolio management goals, prioritizing projects, resource management, risk management, and monitoring and evaluating portfolio management performance.
  • Portfolio management skills: You will acquire the skills necessary to develop portfolio management capabilities. These skills include leadership, communication, teamwork, negotiation, and conflict resolution, which are essential for interacting with other professionals involved in the portfolio management process.
  • Portfolio management performance: You will learn the skills required to monitor and evaluate portfolio management performance. These skills include tracking the performance of the portfolio management process, assessing whether portfolio management goals are being met, and reporting performance.
The PfMP certification is an effective way to gain the knowledge and skills necessary for managing portfolio management processes. This certification can help professionals working in portfolio management advance their careers and be more effective in their roles.

Prerequisites

There are several prerequisites for obtaining the PfMP certification. These prerequisites include:
  • Education: Candidates must have completed at least 35 hours of portfolio management education.
  • Experience: Candidates must have at least 8 years of project or program management experience and at least 5 years of portfolio management experience within the last 15 years.
  • Advanced Experience: Candidates must have at least 4 years of senior-level portfolio management experience within the last 15 years.
  • Leadership: Candidates must have led or managed all portfolio management processes for at least one year within the last 15 years.
  • Degree: Candidates must hold a bachelor’s degree or an equivalent degree.
  • References: Candidates must provide two professional references with their application.
All of these prerequisites are required to apply for the PfMP certification, and candidates must demonstrate that they meet these criteria. Candidates should ensure they meet these prerequisites before applying for the PfMP exam.

Who Should Attend?

The PfMP certification is designed for professionals working in portfolio management. Therefore, anyone managing portfolio management processes or working on portfolio management projects can participate in PfMP training. This certification is also beneficial for project managers, program managers, portfolio managers, project office managers, and strategic planning managers who want to learn portfolio management processes and advance their careers. The PfMP certification is important for those who want to lead portfolio management processes, deepen their knowledge in portfolio management, and earn a specialized certification in the field. In conclusion, anyone managing or working within portfolio management processes, as well as those looking to build a career in portfolio management, may be suitable for the PfMP certification.

Outline

Strategic Alignment Task 1: Understand the Strategic Priorities Task 2: Create a Basis for Decision Making Task 3: Provide a Guiding Framework Task 4: Create Portfolio Scenarios Task 5: Evaluate and Select Viable Options Task 6: Provide Governance with a Rationale for Decision Making Task 7: Sustain Strategic Alignment Task 8: Confirm and Communicate the Portfolio Components Governance Task 1: Support Effective Decision Making Task 2: Establish Consistent Portfolio Management Practices Task 3: Manage the Portfolio Efficiently and Effectively Task 4: Create the Portfolio Management Plan Task 5: Authorise the Execution of the Portfolio Portfolio Performance Task 1: Authorise Portfolio Structure and Activate Components Task 2: Collect and Consolidate Key Performance Metrics Data Task 3: Monitor the Portfolio Performance Task 4: Manage and Escalate Issues Task 5: Manage Portfolio Changes Task 6: Balanced Portfolio and Prioritise Portfolio Components Task 7: Analyse and Optimise the Consolidated Allocation/Reallocation Task 8: Facilitate Reallocation of Organisational Resources to Portfolio Task 9: Measure Aggregated Portfolio Performance Results Task 10: Maintain Records by Capturing Portfolio Artifacts
Portfolio Risk Management
Task 1: Provide Input to Governance Task 2: Develop the Portfolio Risk Management Plan Task 3: Perform Dependency Analysis Task 4: Develop, Monitor, and Maintain Portfolio-Level Risk Register Task 5: Promote Stakeholder Ownership of Portfolio Risks Task 6: Optimise Portfolio Strategic Goals and Objectives
Communications Management
Task 1: Analyse Internal and External Stakeholders Task 2: Create the Aggregate Communication Strategy and Plan Task 3: Engage Stakeholders Task 4: Maintain the Communication Strategy and Plan Task 5: Facilitate Stakeholder Understanding of Portfolio Management Task 6: Maintain Credibility and Satisfaction with All Stakeholders

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