A Symphony of Choices

IMPLEMENTATION GUIDE

Project portfolio management is an effective decision‐making, disciplined, and structured approach designed to achieve strategic goals by selecting, prioritizing, assessing, and managing projects, programs, and other related work based on their alignment and contribution to your organization's strategies and objectives. Taking a project portfolio approach will enable you to categorize, evaluate, and prioritize initiatives and manage your resources to enhance the value of existing investments. This approach will also enable you to align your organization's spending with its business priorities and achieve an optimal balance of risk and reward.

In the portfolio management circle, we have items such as leading a business, business goal alignment, the value of the business alignment, program selection, and portfolio optimization. It's really all about creating business value. We can ask the question: Are all the things that we're doing as an organization delivering the value that the organization needs while delighting its customers and creating raving fans? At the portfolio management level, it is about business processes, which are usually conducted at the highest level of the organization. At this level are the decisions about which products, programs, or other initiatives are undertaken at a given period. Criteria are created to select those initiatives, activities, the active management of those initiatives, and whatever benefits those activities promise. ...