ABSTRACT
The International Project Management Association Individual Competence Baseline (IPMA ICB) summarizes the possibilities for developing necessary competences for people engaged in portfolios and the prerequisites that should be in place before implementing the development measures. Typically, the human resource department is responsible for defining a strategy and the objectives for developing competences based on the organization's overall vision, mission and strategy. Based on the findings, a programme for competence development can be set up in order to support people engaged in portfolios. All competences are relevant for portfolios but the importance of single competences needed for managing a portfolio may differ between various types of portfolios or sectors. In 2011, the Australian Institute of Project Management (AIPM) published the second version of its AIPM Professional Competency Standards for Project Management – Part F, which addresses the competences necessary for people engaged in portfolios.
