Organisations and Projects: Portfolio Shaping

What is a portfolio?

'a collection of projects and/or programmes used to structure and manage investments at an organisational and functional level to optimise strategic benefits or operational efficiency.'

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What is portfolio management?

'the selection, prioritisation and control of an organisation's projects and programmes in line with its strategic objectives and capacity to deliver'

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Portfolio management benefits: prioritisation

Helps prioritise and align projects and programmes with organisational goals

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Portfolio management benefits: balancing of benefits

Appropriate balance of quantitative and qualitative benefits

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Portfolio management benefits: organisational goals

Suitable focus on both short term and long term organisational goals

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Portfolio management benefits: external change

Adapting project and programme delivery to external change (economic fluctuation, introduction of new legislation or technology)

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Portfolio management benefits: resources

More efficient and effective utilisation of scarce resources

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Portfolio management benefits: risk

Making sure that risk exposure at a project and programme level is consistent with the organisation's risk appetite

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Similarities and Differences between Projects, Programmes and Portfolios: Time

Project - Temporary, Programme - Temporary, Portfolio - Ongoing

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Similarities and Differences between Projects, Programmes and Portfolios: Cost

Project - Fixed budget, Programme - Fixed budget subject to change, Portfolio - Varying budget

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Similarities and Differences between Projects, Programmes and Portfolios: Risk

Project - Focus on project risk, Programme - Focus on aggregated project risks, Portfolio - Focus on risk across the organisation

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Similarities and Differences between Projects, Programmes and Portfolios: BAU

Project - delivers outputs into BAU, Programme - Works with BAU to turn outputs into outcomes, Portfolio - Supports BAU to try and minimise impact

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Similarities and Differences between Projects, Programmes and Portfolios: Quality

Project - Focus on quality of outputs and project processes, Programme - Focus on programme processes only, Portfolio - Very little focus on quality

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Similarities and Differences between Projects, Programmes and Portfolios: Scope

Project - fixed and subject to change control, Programme - flexible within recognised limits and subject to change control, Portfolio - defined by boundary 'areas' rather than a fixed list

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Similarities and Differences between Projects, Programmes and Portfolios: Benefits

Project - delivers outputs for the business to realise benefits, Programme - works with the organisation to realise benefits, Portfolio - Looks at long term benefits of combined work

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Organisations and Projects: Portfolio Shaping

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