 Management of Portfolios
Register The core guidance is aimed at the decision makers who have to prioritise investment across an organisation's programmes and projects. The guide introduces the key concepts of portfolio management, its benefits to an organisation, how it fits in with current business processes and how to get started. Rather than representing a new discipline, portfolio management seeks to build on, and better co-ordinate, existing processes such as strategic planning, investment appraisal and project and programme management. Portfolio management is not concerned with the detailed management of these projects and programmes; rather, it approaches the management of change projects and programmes from a strategic viewpoint, focusing on the key issues outlined above. This is reflected in the following formal definition for portfolio management, which is: A co-ordinated collection of strategic processes and decisions that together enable the most effective balance of organisational change and business as usual. Portfolio management can be used effectively within specific directorates of the organisation - for example, the 'IT portfolio'. However, the greatest success is realised when management boards use portfolio management to deliver the organisation's corporate change portfolio as a whole. Portfolio management addresses the fundamental questions: - Are we doing the right things?
- Are we doing these things right?
- Most significantly, are we realising all the benefits in terms of more effective services and efficiency savings from the changes we are implementing?
The time has come for Management of Portfolios (MoP). MoP helps organizations answer a fundamental question ‘Are we sure this investment is right for us and how will it contribute to our strategic objectives?’ Investment is the key word because portfolio management is about investing in the right change initiatives and implementing them correctly. Yellowhouse is an APMG MoP Accredited Training Organization. Register |
