What is the purpose of Portfolio Management Practice?

The purpose of Portfolio Management Practice centers around ensuring that the organization has the right mix of programs and services to meet its strategic objectives and deliver maximum value to stakeholders. This practice involves evaluating the organization’s investments in projects, programs, and services to determine their alignment with business goals. By assessing the overall portfolio, organizations can prioritize initiatives, make informed decisions about resource allocation, and identify areas for improvement or innovation.

This holistic view allows organizations to strike a balance between risk and return, enabling them to capitalize on opportunities while managing potential downsides. By focusing on maintaining an appropriate mix of offerings, Portfolio Management supports sustainable growth and enhances the ability to respond to changing market conditions or stakeholder needs.