– portfolio management is a business management approach that must operate in all parts of the portfolio lifecycle to be successful. this is where the seeds of the portfolio are planted. you reach out into all areas of the business, find the ideas and suggestion that will help you achieve your goals, and identify the best ones to submit for further work. in this step, your best ideas are submitted to more formal analysis, developing high-level estimates of the costs and benefits associated with them. projects being considered for approval are now assessed in terms of their feasibility to deliver. you consider whether you have or whether you can get the people and skills needed to complete them, both individually and collectively. the initial approval of projects for inclusion in the portfolio is fairly simple.
in portfolio management, this is an ongoing process for the rest of the lifecycle. fifth is strategic execution. but from a portfolio management concept, you’re managing those projects to achieve benefits not deliverables. it’s a very different approach. this is another area of the portfolio lifecycle you’re probably familiar with, but there are more, and more complex, drivers of change from a portfolio management standpoint than in traditional project management. this final step of the portfolio lifecycle is where all of the hard work pays off. each of these separate elements is critical to portfolio management success. but most important of all is the need to manage these seven pieces as part of an overall portfolio management approach.
the portfoliostep™ portfolio management process has a life cycle that consists of four major sequential phases or activities. these phases in turn encompass the ten steps described in this portfoliostep process. hence, portfoliostep™ is a repeatable process of preparing for, planning, executing and harvesting the value of work as a business portfolio. you must grasp the nature and extent of the work that you want to manage as a portfolio.
however, you can see from the illustration above that managing a business portfolio ultimately involves the whole organization if the true value of the portfolio management effort itself is to be realized in the value of the benefits derived. portfoliostep (ps) and its life cycle consists of ten “steps” that may be viewed as “steps”, “phases” or “stages” depending on the terminology used in your organization and these steps are best summarized in tabular form. each of the steps listed in the table are consistent with the sequence recommended by the project management institute’s standard and form the basis of separate chapters later in this process description. for consistency with the pmi® terminology, these chapters are titled and numbered as follows: categorization (310); identification (320); evaluation (330); selection (335); prioritization (340); portfolio balancing (345); authorization (350); activation (355); portfolio reporting & review (360); and strategic change (370).
the portfolio management lifecycle is a framework for ppm that is designed to produce profitable, predictable, and successful projects for a life cycle of processes used to collect, identify, categorize, evaluate, select, prioritize, balance, authorize, and review components within the project the portfolio management lifecycle includes four essential elements. 1) define the portfolio— processes to define portfolio parameters and, what are the three phases of project portfolio management process, project portfolio management process, project portfolio management process, when should the second approval for a project happen in portfolio management, benefits of portfolio management.
no matter how you slice and dice it, the project portfolio management life cycle consists of the following five phases: establish; evaluate; prioritize; select – portfolio management is a business management approach that must operate in all parts of the portfolio lifecycle to be successful. there are the goal of the portfolio management process is to manage and leverage the life cycle of investments, initiatives, programs, projects and outcomes to best, portfolio management approach, portfolio lifecycle starts with, project portfolio management tools, five levels of project portfolio management. what is the portfolio management lifecycle? what are the four steps in the portfolio management process? what are the 7 steps of portfolio process? how many steps are there in the portfolio lifecycle?
When you try to get related information on portfolio management lifecycle, you may look for related areas. portfolio management activities,components of portfolio management what are the three phases of project portfolio management process, project portfolio management process, when should the second approval for a project happen in portfolio management, benefits of portfolio management, portfolio management approach, portfolio lifecycle starts with, project portfolio management tools, five levels of project portfolio management.