ABSTRACT
A skilled portfolio analysis function to develop and manage the portfolio processes and undertake independent, competent and credible investment appraisals and portfolio prioritisation exercises. There are four key Project Portfolio Management processes establishing the change portfolio; investment management and portfolio prioritisation; managing the portfolio in flight'; and benefits management. Additional benefits are linked with increasing portfolio process maturity and active management of the portfolio, but such benefits are often more difficult to measure in financial terms since they concern improved strategic contribution and a more balanced and achievable portfolio. Benefits realisation starts with the business case research shows that failing programmes rarely have strong business cases. Establishing organisationally appropriate portfolio management processes and governance regimes come first, and progress is built on the foundations of four crucial prerequisites: a clearly articulated corporate strategy, top management support, a skilled portfolio analysis function, and modular or incremental project development and deployment.
