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Discussion in 'Other Project Management Courses' started by Vijay_97, Feb 22, 2016.
Can anyone explain me a bit more about portfolio management please ?
A great way to start to think about Portfolio, Program and Project is to think in terms of a pyramid hierarchy. At the top of the pyramid is portfolio management, which contains all of the projects and programmes that are prioritised by business objectives. Below that is programme management, which contains numerous projects that are interrelated, since they support a particular business objective. Programmes consist of multiple projects, but projects can be independent and simply part of the portfolio. Projects differ from programmes in that they are strictly tactical in nature.
Following are the definition of Portfolio an Portfolio Management from PMI.
More details http://www.pmi.org/Certification/~/media/PDF/Certifications/PfMP_FAQs_v3.ashx
A portfolio is a collection of programs, projects and/or operations managed as a group. The components of a portfolio may not necessarily be interdependent or even related—but they are managed together as a group to achieve strategic objectives.
Portfolio Management is the coordinated management of one or more portfolios to achieve organizational strategies and objectives. It includes interrelated organizational processes by which an organization evaluates, selects, prioritizes, and allocates its limited internal resources to best accomplish organizational strategies consistent with its vision, mission, and values.
Portfolio managers align projects, programs and operations with strategic objectives, investing resources in the right work to deliver the expected value.
Portfolio holds business enabler epics required to create a portfolio solution set, a set that provide the competitive differentiation and operational efficiencies necessary to address the strategic themes and facilitate business success.
Portfolio and Program Management
Portfolio refers to a group of related or non-related projects or programs. A portfolio can consist of multiple programs or multiple projects without having a single program. A portfolio can have multiple non-similar projects without having a program, because two or more non-related projects will be managed under portfolio management. Conversely, in program management only related projects are managed.