ABSTRACT
For a majority of practitioners, the portfolio that they work on is existing with expected goals and objectives to demonstrate portfolio value. Creating a new portfolio requires some additional steps and direction to ensure future success. There are four general areas of focus within the portfolio management space: strategic alignment, governance, execution/delivery, and methods/tools. Before any of this can happen, there has to be consensus regarding the need for change. One of the most significant components of this portfolio’s creation is in the area of change management embedded into the design and delivery of the portfolio. Additionally, the culture and maturity of an organization dictate the design. There is no “perfect”’ governance model, methodology, or toolset as the right approach for each portfolio depends on its organization and culture along with the maturity of the team and the culture of project delivery. However designed, communicating value to stakeholders should be done using metrics for both tangible and intangible value to the organization. As management guru Peter Drucker famously put it, “If you can’t measure it, you can’t manage it.”
