Portfolio management
The Green Book, Central Government Guidance On Appraisal And Evaluation, Published by HM Treasury in 2020, suggests that portfolio management is: ‘…the selection, prioritisation and control of an organisation’s programmes and projects, in line with its strategic objectives and capacity to deliver. The goal of PM is to balance the implementation of change initiatives and the maintenance of Business As Usual, while optimising performance in the private sector this is return on investment and in the public sector this is the social/public welfare return on spending.’
Government Functional Standard, GovS 002: Project delivery; portfolio, programme and project management, Version: 2.0, published on 15 July 2021 by HM Government, states: ‘Portfolio management is a co-ordinated collection of strategic practices and decisions that together enable the most effective balance of organisational change and business as usual.’
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