A portfolio is a collection of projects and/or programs used to structure and manage investments at an organizational or functional level to optimize strategic benefits or operational efficiency.
Where projects and programs are focused on the deployment of outputs, and outcomes and benefits, respectively, portfolios exist as coordinating structures to support a deployment by ensuring the optimal prioritization of resources to align with strategic intent and achieve the best value
To shape the portfolio, the sponsor and portfolio manager seek out the visibility of plans of the constituent projects and programs agree on how to reshape those constituent parts depending on:
In a strategic portfolio, governance may be aligned entirely with corporate governance. Where this is not the case, it is vital to establish a clear understanding and buy-in to the portfolio prioritization process from the executive team. In a portfolio, it is normal for sponsors of projects, to be required to sacrifice their project priorities for the benefit of the wider portfolio.
Whitepaper_20220211_EN_Foundations, Goals _ current Trends in the field of Portfolio Management.pdf
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