ABSTRACT
Governance of a portfolio is a key component of an organization's overall governance strategy. It may occur at various levels of the organization to support portfolio strategy, performance, communications and risk management, as well as to align with and support the organization's defined strategy. The key aim of governance in portfolio management is to ensure that processes are in place to define, align, authorize and control elements of a portfolio, as well as provide support for the overall governance decision-making activities. Distinction should be made between governance principles and management principles, because the two are often confused. Management principles address the question of how an organization delivers. For large portfolios, tiered organizational structures, based on a hierarchy of programmes and portfolios, are common. The portfolio progress group or change delivery committee is the governance body responsible for monitoring portfolio progress and resolving issues that may compromise delivery and benefits realization.
