The standard organizes portfolio management into several critical areas: Strategic Alignment
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: Creating a framework for effective decision-making and oversight. Capacity & Capability Management : Developing the portfolio management plan
: Optimizing the use of finite resources like talent, budget, and infrastructure. Portfolio Risk Management
The Standard for Portfolio Management – Fourth Edition - PMI Monitor & Control : Tracking performance against strategic
The Fourth Edition outlines an ongoing cycle that organizations use to manage their investments: ANSI Webstore Initiation : Defining the portfolio's strategic intent. : Developing the portfolio management plan. : Implementing the chosen components. Optimization : Adjusting the mix of work to maximize value. Monitor & Control : Tracking performance against strategic objectives. How to Access the Standard Legally PMI Official Site PMI Members
. While project management is about "doing the work right," portfolio management is about "doing the right work" Amazon.com The Portfolio Life Cycle
: Actively identifying and managing the expectations of those impacted by the portfolio. Amazon.com The Portfolio Life Cycle