by Nick Clemens
Good governance requires working toward common ground. It isn't easy.
This chapter discusses portfolio governance. As defined within the PfM Standard, “Portfolio governance is a set of practices, functions, and processes within a framework based on a set of principles that are the fundamental norms, rules, or values that guide portfolio management activities to optimize investments and meet organizational strategic and operational goals.”29 The key phrase is “guide,” as noted by the added emphasis in the above quote.
Governance is the guide that shapes or bounds management practices. With ...