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1、ProjectPortfolioManagement AnIntroduction李俊伟项目管理者联盟,MYPM.NET更多培训资料，尽在....！ContentEmergenceofProjectPortfolioManagement(PPM)PortfolioManagementinFinancialMarketOverviewofPPMPPM,ProcessandTechniques2TheEmergenceofProjectPortfolioManagement1952,ModernP
2、ortfolioTheory(MPT),HarryMarkowitz,JournalofFinance,PortfolioSelection1990,HarryMarkowitzsharedNobelPrize,dominantapproachusedtomanageriskandreturnwithinfinancialmarkets1981,F.WarrenMcFarian,PortfolioApproachtoInformationSystems,HBR,toemployarisk-bas
3、edapproachtotheselectionandmanagementofITprojects.1990s,abroaderuseofideasofportfoliomanagement1998,JohnThorp,TheInformationParadox.Portfoliomanagementwasusedtomanageriskandmaximizereturnalonganumberofdimensions.Present,portfoliomanagementascentralel
4、ementsofgoodinvestmentmanagement3PortfolioManagement,theoverallpictureFocus(StrategicPlanning)Source:PMSolutions,PortfolioManagement,DianneBridgesSelect(PortfolioManagement)Manage(ProjectManagement)4ContentEmergenceofProjectPortfolioManagement(PPM)Po
5、rtfolioManagementinFinancialMarketOverviewofPPMPPM,ProcessandTechniques更多培训资料，尽在....！5TheOldPhilosophyaboutPortfolioDon’tputallyoureggsinonebasket.Riskaversionseemstobeaninstinctivetraitinhumanbeings.6ReturnandRiskinFinancialMarketexpectedreturnstand
6、arddeviation(%)capitalappreciationgrowthofincome06121824303620181614121086420incomeinflationT-billsintermediate-termgovernmentbondslong-termgovernmentbondslong-termcorporatebondslargecompanystockssmallcompanystocksstabilityofprincipal7TheRoleofCombin
7、ingSecuritiesTheexpectedreturnofaportfolioisaweightedaverageofthecomponentexpectedreturns.更多培训资料，尽在....！8TheRoleofCombiningSecurities10two-securityportfoliorisk=riskA+riskB+interactiveriskThetotalriskofaportfoliocomesfromthevarianceofthecomponentsand
8、fromtherelationshipsamongthecomponents.TheRoleofCombiningSecuritiesexpectedreturnriskbetterperformanceAportfoliodominatesallothersifnootherequallyriskyportfoliohasahigherexpectedreturn,orifnoportfoliowiththesameexpectedreturnhaslessrisk.Thepointofdiv
