ABSTRACT
Portfolio management does not happen in isolation and will never be more mature than the organization as a whole. As a means of strategy execution, it presents itself as a core strategic business process, closely interlinked with other key business processes. Portfolio definition depends on a well-articulated mission, vision, goals, strategy and targets. Portfolio delivery relies on the organization's structure, culture, people and execution skills. A full understanding of the organizational context is vital for the success of portfolio management. Management systems comprise coherent combinations of managerial processes, practices and procedures used by an organization to achieve a particular purpose, function or objective. A chosen portfolio of projects is not much more than intent, unless executive management approves the budget for its execution. Any project portfolio that entails initiatives targeting the creation of new or improving existing products or services has a close connection to the organization's 'idea-to-market' processes.
