ABSTRACT
Project portfolio management (PPM) is essentially managing information concerning the implementation of a strategy. At its heart, it provides decision-makers with the insight, foresight and oversight to enable them to assess, select, prioritize, reprioritize, pause and even terminate initiatives. A number of activities are needed to make PPM successful. These activities involve creating the initial plan, maintaining that plan and delivering the portfolio. The portfolio manager needs to be adept and confident in reporting the status of the portfolio to senior management – 'warts and all' – and in providing the appropriate recommendations for action. Programmes are often made up of related projects and other activities. They can have a wide scope and they focus on realizing organizational benefits from the capabilities enabled by projects. A portfolio is a collection of components that are grouped together to enable strategic objectives. Those components are projects, programmes and/or operational activity.
