ABSTRACT
Project portfolio governance is a critical capability in the best of times. With a firm foundation, ongoing governance and oversight enable projects and programs to proceed down the path to arrive at the strategic destination. The intention of portfolio governance is to facilitate strategic decision-making that will enable delivery of strategic goals and objectives. There are two sides to portfolio governance – a component side and an internal side. The governance framework should consist of definitions which guide strategic alignment, financial adherence, risk appetite, and resource requirements. Additionally, governance should be “right-sized” or tiered which means to have varying requirements based on the expenditure as well as the level of risk, impact, and complexity. These are among the many concepts governance concepts that are the embodiment of the famous quote “Work smarter, not harder”.
