Portfolios encapsulate an assemblage of interconnected programs and projects aimed at delivering overarching business outcomes.
Portfolios represent collections of projects or programs managed together to achieve strategic objectives. Effective portfolio management involves prioritising, selecting, and overseeing initiatives to maximise value and alignment with organisational goals.
The Portfolio Management Framework, encompasses principles, processes, and methodologies for managing portfolios effectively. It includes strategic alignment, governance, prioritisation, monitoring, and optimization to maximise value and achieve organisational goals.
Strategic Alignment ensures that projects and programs within a portfolio are consistent with the organisation's strategic objectives and goals. It involves assessing and prioritising initiatives based on their alignment with strategic priorities to maximise value.
Portfolio Governance involves establishing structures and processes to oversee the portfolio's performance, manage risks, and ensure compliance with organisational policies and regulations. It includes defining roles, responsibilities, and decision-making authority to ensure effective portfolio management.
Portfolio Prioritization and Selection entail methods and criteria for selecting and prioritising projects and programs within a portfolio. It involves assessing alignment with strategic objectives, available resources, and potential value to optimise portfolio composition and achieve organisational goals efficiently.
Portfolio Monitoring and Control involves processes for tracking the performance of projects and programs within a portfolio. It includes monitoring progress, identifying issues, and taking corrective actions to ensure portfolio objectives are met effectively and efficiently.
Portfolio Reporting and Communication encompasses strategies and mechanisms for stakeholders to receive updates on portfolio performance. It includes regular reporting on progress, risks, and outcomes to ensure transparency and alignment with organisational goals.
Portfolio Optimization involves continuous improvement efforts to enhance the portfolio's composition and resource allocation. It aims to maximise value, strategic alignment, and organisational effectiveness through iterative refinements and adjustments to portfolio management practices.
Signup with your email and get started with your project management journey.
Get Started
