What is MoP®
The methodology compatible with the PRINCE2 project methodology contains key techniques for those who plan and implement a portfolio of changes.
What is MoP?
MoP (Management of Portfolios) is a framework designed for middle and top management, or e.g. project office managers. The MoP will be used by all those responsible for planning and implementing changes / projects. The methodology contains the Principles, Techniques and Key Principles that are necessary to strengthen portfolio management.
The MoU helps organizations answer the key question "Are we sure this investment is right for us and how will it contribute to our strategic goals?" before we make a managerial decision to implement the project / change.
The term investment is perfectly justified because portfolio management is about investing in the right changes, at the right time and in the right way.
Project vs. Portfolio
Many believe that Management of Portfolio is nothing more than a higher level of project management.
Portfolio Management is primarily about how to implement changes and at the same time maximize benefits, give projects the right priorities, and effectively distribute limited resources.
Project management is all about doing things right, while the portfolio focuses on doing the right things.
MoP vs BAU
Management of Portfolio vs. BAU (Business as Usual)
BaU represents what we can do, we do. Business asu Usuall has its own structure. These are activities that are verified, but also set processes. BaU is not always there, because the internal and external environment of the organization is constantly changing. And some changes need to be addressed.
Portfolio Management is a parallel BAU. It works as a change-to-business accelerator
Portfolio Management also has its own structure. Creating and delivering a portfolio. In the case of MoP, the point is to get an idea of what projects and programs you want to run in a given period.
Defining a portfolio is about getting an overview of the topic policy, activities, changes, programs and projects.
Benefits
With MoP, you get a powerful management and decision-making tool
Ideas, creditworthiness and strategies are assessed here. You will stop some projects, approve new ones, or even re-evaluate the strategy - in time.
Part of the MoP is, of course, parallel activity to the BaU. Companies are thus trying to devise and coordinate change activities in such a way that they contribute in terms of strategic goals.
Benefits of MoP
- It is a guarantee of successful project implementation / change;
- Provides techniques and methodological tools for identifying and prioritizing investments;
- Maximizes the return on investment from the activities of embedded projects, programs and changes;
- It significantly contributes to the fulfillment of strategic goals, thanks to the fulfillment of the required benefits.
