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MoP Principles

MoP is based on 5 flexible principles which provide the foundation for successful portfolio management practice:

  1. Senior Management Commitment: Any change initiative struggles without it, so top-level support is identified as MoP’s first principle. Change initiatives must have  champions to communicate the value and benefits of portfolio management. They need to use both the stick and carrot – ensuring compliance with portfolio management  standards and personally demonstrating the behaviours essential to the success of the Portfolio. So, no ‘pet projects’ – not even the Chief Executive's!
  2. Governance Alignment:  Without proper governance – including clarity about what decisions are made – portfolio management will fail. MoP provides examples of successful portfolio governance structures – from Programme and Project managers up through the Portfolio Progress Group to the Portfolio Direction Group/ Investment Committee level. Supporting these is the P3O® model and, working alongside them:  Business As Usual areas that will be impacted by the change.  A set of role descriptions are provided in the MoP manual as ready-to-use templates.
  3. Strategy Alignment:  Change initiatives which do not deliver benefit equate to waste and confusion.  The ultimate objective of portfolio management is to achieve the strategic objectives of the organisation.  MoP suggests a driver based model starting with very high level strategy, down to strategic objective then benefits and finally, change initiatives that will deliver them.  It provides useful, practical, examples from both the private and public sectors on how this can be achieved.
  4. Portfolio Office:  There has to be a portfolio support function which provides up to date and accurate information to allow good decision making by portfolio managers.  This is the role of the Portfolio Office and this MoP principle is strongly linked to the Best Practice standard of P3O.  MoP shows different P3O models including linked (but temporary) Programme and Project offices as well as the permanent Portfolio office and aligned Centre of Excellence.
  5. Energised Change Culture:  The success of the Portfolio depends as much on people as process so this principle recognizes the need for an engaged team working together to define and deliver the Portfolio.  Here, MoP gets into the ‘softer side’ by looking at areas such as communication, the learning organization and listening and engagement with staff.