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Project & Portfolio Lifecycle Management System
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What is a Portfolio Management?
Portfolio Management is how an organization governs its entire set of projects and programs. Through this process, the senior officers within an organization keep track of the status of the development and production efforts within thier company. Most organizations have one single portfolio, however large companies may have regional portfolios (North America, Asian, Europe, etc.), or they may have industry vertical portfolios (Housewares, Commercial, Sports, etc.).
How is Portfolio Management conducted within an Organization?
Portfolio Managment is an advanced governmance concept. Less that have of business have a portfolio management process.
Typically a organziation holds a Portfolio Management meeting every other week. During this meeting status updates are presented from Marketing, Operations, and Project Management. During this meeting, the health of existing product and service lines are discussed and brand new ideas are presented from the senior management within the company. Business Cases are presented and the comittee decides which new ideas to fund, while they learning about the currents status of past products, services, and projects under construction at the time. Decisions made and projects funded represent corporate strategy and values.