Portfolio management can be described as a decision making process that focuses on controlling an effective balance of projects and/or programmes and enabling maximum value from these investments.
Though this discipline has been practised for many years, very few standards have been developed to provide a best practice approach to support portfolio management.
Following consultation with a broad group of international stakeholders, in 2011 the MoP® – Management of Portfolios guide was released and quickly adopted by dozens of organisations across the globe. Today MoP is seen as a leading portfolio management standard and certification, applied by portfolio managers and portfolio offices across a diverse range of organisation types.
The MoP guide describes principles, practices, techniques and roles for effective project and programme portfolio management. The MoP practices are defined in two cycles: Portfolio Definition and Portfolio Delivery, as show below.
The Portfolio Definition cycle describes 5 practices for outlining and planning the portfolio, they are: understand, categorise, prioritise, balance and plan.
The Portfolio Delivery cycle describes 7 practices aimed at ensuring successful delivery of the portfolio, they are: management control, benefits management, financial management, risk management, stakeholder engagement, organisational governance and resource management.
Copyright © AXELOS Limited 2011. Reproduced under licence from AXELOS Limited. All rights reserved.
Visit our MoP Management of Portfolios Foundation and MoP Management of Portfolios Practitioner training and certification pages for more information or contact us.
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