ABSTRACT
This chapter focuses on the importance of communication by those responsible for the portfolio. The governance team and the stakeholders are responsible for communicating with those involved in portfolio management. Decision-making requires various forms of communication and in-depth conversations. The portfolio manager must synthesize the information from the governance, leadership, portfolio, and project managers. Then the data is analyzed as to how it affects the portfolio. Listening will help each member grasp if they are communicating effectively. Trust in a relationship goes both ways. Trust is easier to maintain than recover once broken. Project portfolio management is a relationship on many levels. The portfolio team needs to trust one another and the portfolio manager. The portfolio manager who supports the team will establish trust. Communication is essential with strategy. The portfolio manager communicates findings to achieve the strategic goals upon a final decision. Technology, seldom, if ever, is the answer to communication problems. It is up to each portfolio manager to stay current with changes, whether technology, agile, more accurately selecting projects to meet strategy, or many other developments. No matter what area is updated, communication will be central to all areas of portfolio management.
