Portfolio Manager in Project Management – Definition and Meaning
The portfolio manager is a responsible role or person in charge of managing and overseeing a project portfolio. Core responsibilities include selecting, prioritizing, and authorizing projects and programs within the portfolio, as well as strategically allocating resources to ensure the portfolio is optimally aligned with and supports the organization’s overarching goals.
Example, Best Practice, and Further Information
In a large corporation, for example, the portfolio manager decides which proposed projects should be funded and initiated and which should not. A proven best practice is to apply clearly defined, transparent criteria for evaluating and selecting projects. This aligns with the recommendations for portfolio management in the PMBOK Guide and approaches in agile scaling frameworks, and helps maximize the portfolio’s value contribution and ensure strategic alignment.