Portfolio in Project Management – Definition and Meaning
In the context of project management, a portfolio is a collection of projects, programs, and other work initiatives that are managed as a group to efficiently achieve overarching strategic business goals. Management typically involves processes for prioritizing initiatives and optimally allocating available resources across all portfolio elements, based on a centralized, high-level perspective.
Example, Best Practice, and Further Information
An example would be a company’s IT portfolio, which includes all ongoing and planned technology projects. A proven best practice is to regularly review and adjust the portfolio to ensure continued alignment with strategic objectives and to maximize organizational value. This aligns with portfolio management practices as outlined in the PMBOK Guide and the principles of agile scaling frameworks, which emphasize continuous adaptation and value maximization.