Tuesday, September 13, 2016

Standards and Portfollo

I have always been one that takes the best aspects and novel ideas (that I later test) to develop portfolios for clients or ones that I have created and led. I was quite interested when I read a blog from MrPortfolio. He aptly pointed out that there are two standards that drive portfolios today. There is PMI's Standard for portfolios and then there is the Management of Portfolios (MOP). He aptly points out the differences and similarities between the two tomes.

He also touches on the certifications for portfolio. There is the PMI certification and one for the MOP. He suggests both or if you can only afford one then the MOP. He also states he is biased toward MOP. As an individual that has the PMI portfolio certification (PfMP) and intimately familiar with MOP but does not have the certification, I respectfully disagree.

I would contend it depends where you practice. If you do business in both the US and Europe, then I would suggest that you find the funds to have both certifications. If you practice mainly in the US, then stick with PMI's certification. PMI is quite well known in the US. However, if you practice mainly in Europe then the MOP should be the certification. You must cater to your clients and audience.

I wholeheartedly agree with MrPortfolio, that as a practitioner in the portfolio arena you NEED to know both documents. Each has its strengths and weaknesses. I will not bore you with those because MrPortfolio did a fine job of outlining them. Again, do what is right for your client or your company. Understand both, and you will in all likelihood develop a project portfolio that will help the organization meet its strategic objectives.

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