For the first time in the Greek project management community a major PMI International Event took place in Athens under a bright glorious sky.
The new edition of the Standard for Portfolio Management an American National Standards Institute (ANSI) – Project Management Institute (PMI), Global Standard made its initial presentation to an audience of highly qualified professionals of project, program and portfolio management from Greece and Cyprus.
The event took place on the 7th of December 2017 where Mr Panos Chatzipanos, President, PMI-Greece Chapter welcomed the Core Committee that developed the Standard, Mr Garry Sikma – Co-chair of the portfolio management committee, Professor Te Wu – member of the committee and Mr Marvin Nelson for a special presentation of a MIT, PMI, INCOSE joint publication of “Integrating Program Management and Systems Engineering, as well as Mr Antonis Papagiannidis, CEO of ECONOMIA Group as the panel moderator.
Mr Gary Sikma elaborated on the process, teams and the mechanisms of developing the New Standard where he made special reference to the Greek members Mr Chatzipanos and Mr Giotis.
Professor Te Wu took over with a comprehensive summary of the 4th Edition of Portfolio Management Standard including Life Cycle Management, Strategic Management and Governance Management and their importance to the portfolio management.
After the break Mr Chatzipanos and Mr Gary Sikma analysed the importance of Value, risk, Capacity and Capability Management as well as the Stakeholder Engagement
Additional, the MIT University, PMI and INCOSE joint publication of “Integrating Program Management and Systems Engineering” was presented by Mr Marvin Nelson who co-edited the book. The important highlight of this presentation is the advantages that can be gained by combining the two up-to-now-considered- to-be competitive powers of Program managers and system engineers.
Prof. Te Wu took over again to present the “Companion Guide to the Portfolio Management Standard” to be published by PMI in 2018 as he is a co-editor.
The event summed up with a Q&A session of the panel with Mr Papagiannidis excellent remarks focusing to the Greek Economic Crisis and to the benefits our society can have from the knowledge shared from PMI and the Portfolio Standard. Following a relevant question Mr Te Wu referred to the Greek – Persian war and the decision of the Athenians to fight in the Salamis naval battle as a strategic decision that they made over multiple projects (such as fight on open land or over the city walls) that they could have selected. This was an example of the right strategic decision over projects which is the main focus of the portfolio managers and highlights importance of the Standard of the Portfolio Management as the right timing and the right selection of the right projects could lead to victory or otherwise extinction.