Redefining Portfolio Management: It’s All a Matter of Perspective

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Redefining Portfolio Management: It’s All a Matter of Perspective

Mark Mullaly, PMP

May 11, 2009






Portfolio management is the theoretical bridge between organizational strategy and project delivery. There are many arguments that projects are the means of organizationally delivering strategy and--by extension--that portfolio management reflects those projects that are strategically aligned.
 
PMI’s standard for portfolio management, for example, says that PPM “provides the means to translate the organizational strategy into a portfolio of strategic and operational initiatives. The management activity ensures actualization of those initiatives through the use of organizational initiatives.” In other words, from organizational strategy should flow portfolios of projects that are aligned with the strategy and produce the strategic results that were being sought.
 
As far as theory goes, it’s a nice one. The challenge is that in actual practice, it often doesn’t seem to work out that way.



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