“It defines the process of selecting andmanaging the projects of an organization.
“Project portfolio management includes the overall processof a project management as, management of resource , planning , scheduling , processof activities etc. Project managementgoal is to complete the task or projecton time to get a new project or task and project portfolio management helpsin it, with a proper managed and schedule planObjectives of project portfolio management: Business Growth Market security Consistent return Security of invested amount in businessSkills needed for portfolio Director: Aproject portfolio director should have the business management skills regardingthe businesses.He shouldhave the latest portfolio management practices. The abilityto provide the strategy, plans and processes to the businessGoodcommunication skill makes everything better so it’s important to have a goodcommunication skill so that he or she could easily interact with the widevariety of people Shouldhave the risk management quality, that make the employer to come up with thedifferent solutions and makes project successful.
Lastbut not the least “Leadership quality”.Portfolio management types:- Active and Passive portfolio management Discretionary and non-discretionary portfoliomanagementThere are so many tools that are used in portfoliomanagement. These are some of them that we have mentioning here.
Rationalfocal point: Itis an IBM product. Which focus in information technology / project and resourcemanagement, revenue generation, saas etc. PLM: Thisproduct belongs to the Siemens. It mainly focuses in the area of research anddevelopment, portfolio and program management, product life cycle.
ITService Management: Itis provided by BMC Software. Which focuses in IT/finance, governance and vendormanagement.