Portfolio Management

The creation of a portfolio provides the project management team and or the project management team leader with an invaluable resource when it comes to the essential and vital availability of quick and handy references that may provide valuable insight and information throughout the project management process. The actual technique of portfolio management is one in which the project management team and or the project management team leader takes the control of the management of all of the related portfolios into one centralized process and for the purposes of streamlining the process and making the information readily available. The portfolio management process includes the concept of identifying, prioritizing, authorizing, controlling, and fully and totally managing the entirety of the programs, projects, and any other predetermined project related work for the purposes of coming to a point where the previously defined strategic business objectives can be met.

This term is defined in the 3rd and the 4th edition of the PMBOK.

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