The purpose of portfolio management is to provide a structured approach through which an effective balance of organisational change and business as usual can be maintained while remaining within a specified funding envelope and constraints as set out in the portfolio plan.
This part of The Teal Book builds on Chapter 4: Governance and management, and focuses on governance and management as applied to portfolios by providing guidance on:
- how a portfolio is governed and managed, including roles and responsibilities, determining scope and other portfolio parameters and ensuring organisational alignment (Chapter 11: The governance and management of portfolios)
- how a portfolio should be overseen, directed and managed through the portfolio management practices (Chapter 12: Managing a portfolio)
While this part describes an approach for governing and managing a portfolio, it cannot be used in isolation. The planning and control practices in Part E and the solution delivery practices in Part F need to be referred to throughout and are an essential aspect of the governance or portfolios.
The practices in Parts C: Managing portfolios, Part D: Managing programmes and projects, Part E: Planning and control and Part F: Solution delivery all need to be defined to work together (see Figure C. 1).
