PORTFOLIO

MANAGEMENT
WHAT IS PROJECT PORTFOLIO
MANAGEMENT?

Project portfolio management (PPM), also known simply as portfolio management, involves managing a
company’s proposals, projects and programs to accomplish broader business initiatives.
Similar to how program management provides a higher level overview of project management, portfolio
management offers an even higher level overview of both projects and programs. Also like program
management, project portfolio management provides insights into big picture budget and resource
allocation. However, there are differences when you directly compare portfolio vs program management.
For one, PPM involves more strategy and is more goal-driven than program management.
Project portfolio management helps plan for future projects by giving managers better insights into where
the smartest investments can be made. Additionally, PPM processes help you find gaps in the current
project portfolio or identify the current projects that may become a barrier to completing a future one.
What is Portfolio Management?
PMI says portfolio management “is a way to bridge the gap between strategy and implementation.”
Instead of focusing on a particular project, portfolio management considers every project or
potential project and its potential to achieve business goals. The objective of portfolio management
is to effectively balance the implementation of change initiatives with the potential return on
investment. It highlights questions such as:
Do I have the necessary resources and budgets to initiate a new project?
Are there other projects that can be modeled?
Are there any current projects that may interfere with this new project?
Do we need to adjust stakeholder expectations?
Does this project align with our enterprise objectives?
Effective portfolio management results in organizations being able to predict outcomes and plan for
projects that will offer the best results. Portfolio management results in a singular strategic plan that
drives transformation programs and facilitates the prioritization of decisions across technology,
work, and resources.
PORTFOLIO

According to PMBOK® Guide, a portfolio refers to a collection of projects, programs, sub-portfolios, and

operations managed as a group to achieve strategic objectives. A portfolio contains both projects and
programs and is managed by a portfolio manager. The portfolio is directly drawn from the strategic
business plan of the organization. Big decisions like investment are made at the portfolio level.

For example, take the case of an automobile company. The unique designs of different cars will represent
programs, and the design of cars, in general, will represent portfolio. To understand the concept better,
take help of diagram given below. In this, a portfolio is divided into one project and two programs and a
sub-portfolio outside of the scope of both the projects:
RELATIONSHIP BETWEEN
PORTFOLIO, PROGRAM, AND
PROJECT.
WHAT IS PROJECT PORTFOLIO MANAGEMENT SOFTWARE?

What Is Project Portfolio Management Software?

Most PMO teams employ some form of software designed to automate many of the functions required to
successfully manage projects and project portfolios. Greater automation leads to greater visibility, deeper
insights, and improved efficiency with the use of actionable data. But, one size does not fit all
requirements.
Just as there is a difference between the scopes of project management, program management, and
portfolio management, there is also a difference between project management software and project
portfolio management software. Keep in mind that a project manager is concerned with tasks, deadlines,
and output, while a program manager is focused on broader initiatives, roadmaps, prioritization, and
resource capacity. Clearly, each requires specialized software geared towards their interests and
responsibilities.
Project management software facilitates common project management functions such as the creation of a
Work Breakdown Structure (WBS) and Gantt charts. Project portfolio management software delivers the
functionality found in project management software combined with additional capabilities required to
manage project portfolios. The most recognized project portfolio management solutions deliver
capabilities required to manage work and resources across the portfolio such as:
.
• Centralization of projects

• Project alignment and prioritization

• Real-time analytics to measure and manage projects and resources

• Resource management and capacity planning

• Time tracking

• Project financial management

• Intake and demand management

• Integrated Gantt charts

• Visibility into all types of work – agile, collaborative, iterative, project

• Investment planning and portfolio/program level financial management

• Roadmapping

• Program management

• Dependency management

• What-if scenario planning

• It’s important to choose software that performs well for each use case and can scale to meet the changing
needs of the enterprise. Home-built or retrofitted legacy applications typically do not provide the level of
integration, transparency and ease that a purposely built software solution can offer.
GANTT CHARTS

A Gantt chart is a type of bar chart that illustrates a

project schedule, named after its inventor, Henry Gantt
(1861–1919), who designed such a chart around the
years 1910–1915.
 FLAGSHIP PROJECTS
•1. Oil & Gas Refining
•Utilities, Offsites and Infrastructures for the Amursky Gas Processing Plant
•Where: Russia
•Client: JSC NIPIgaspererabotka (NIPIGas)
•Company in charge: Tecnimont
•The contract includes the implementation of package n.3 of the Amursky gas treatment plant (AGPP), consisting of utilities, offsites and infrastructures
of the plant, which will be built 13 km north of the city of Svobodny, Amur district, in the eastern region of the Russian Federation.
•The project involves all engineering, procurement, construction, commissioning, and performance testing activities. The contract is strategic for the
entire AGPP complex as the utilities and offsites are necessary to guarantee the connection between the process plants and for the management of
all the process interfaces.
•More than 900 engineers with various specializations will be part of the project, through 17 operating centers distributed in 10 different time zones:
from Milan to Mumbai, from Moscow to China, as well as 12 Russian design institutes. The impact of the project on the local economy will be
considerable, as it will create infrastructures and job opportunities in this remote area.
•In addition to representing a strategic step for gas treatment, one of the drivers of Maire Tecnimont’s core business, the contract is the largest ever
awarded by the Group, which thus consolidates its historic presence in Russia. The client, JSC NIPIgaspererabotka (NIPIGas) is general contractor of
the Gazprom Neft Group for the development of the entire Amur GPP project which, once completed, will be one of the largest gas treatment plants in
the world, with an estimated production of 49 billion cubic meters of natural gas / year. Maire Tecnimont thus participates in the realization of the great
Russian-Chinese energy axis, one of the new strategic world references.
2. Oil & Gas Refining
Tempa Rossa Oil & Gas Treatment Plant

Where: Italy

Client: Total E&P Italia S.p.A. (Gruppo Total)

Company in charge: Tecnimont - KT Kinetics Technology

The contract, awarded to Tecnimont, foresees the main part of the development plan of the Tempa Rossa oil field in Basilicata.

The contract includes the process units and utilities of the oil center, where 50,000 barrels per day (BOPD) of crude oil is
processed and stabilized, in addition to the associated water and gas treatment, the LPG storage center, the surface installations on
the wellheads, the connections of the flowlines and pipelines with the Snam Rete Gas network, and the pipeline of the Taranto Refinery.

The project location, in the Gorgoglione mining area, is located in the heart of a region of rich natural landscapes, that holds an
archaeological heritage of singular value. Therefore, designing and building an Oil & Gas plant in this environment is a challenge, both
in terms of operations safety and environmental protection. Since the beginning of the Tempa Rossa project, Maire Tecnimont has
established several initiatives to transfer value to local communities:

Vocational training courses for Quantity Surveyors, in collaboration with the Assoil School

collaboration project with the comprehensive "16 August 1860" technical school of Corleto Perticara

professional development path for local workers

Recent international energy surveys have cited Tempa Rossa as one of the 280 projects that will change the global energy scenario.
OUR ONGOING PROJECTS
Examples of ongoing projects include the OMSK Delayed Coker, in which the improvement of output efficiency and the
mitigation of environmental impacts are combined with partnerships with strategic suppliers and local subcontractors; the
upgrading of important major refineries, like the Combined Oil Refinery Unit (CORU) Project by JSC Gazprom Neft, and
the Socar Baku Modernization Project, which represents a milestone in downstream refining.
 
NEWLY AWARDED PROJECTS
We won an EPC contract by INA for the Rijeka Delayed Coker as well as two EPC contracts by LUKOIL
NizhegorodNefteorgSintez, a subsidiary of JSC LUKOIL. The contract covers five refinery process units as part of the
oilresidue upgrading project for the Kstovo Refinery, in Central Russia. The project will streamline the technological
complexity of the Kstovo Refinery, enabling the plant to produce higher value products and refine lower quality crude oil,
meeting the growing market demand for cleaner fuels and ensuring higher yields of products.