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The Standard for Portfolio Management — Fourth Edition by Project Management Institute

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PORTFOLIO STRATEGIC MANAGEMENT

Portfolio Strategic Management is the management of intended and emergent initiatives that are often identified at an executive level and provide the very fabric under which portfolio management is executed. It supports strategic thinking and is the basis for an effective organization or business unit. Strategic thinking simply means asking, “Are we doing the right thing?” More precisely, it means assessing whether the right thing is being done using three key requirements:

  • A profound understanding of the associated environment(s),
  • Full alignment of all portfolio components with the vision and values of the organization, and
  • Creativity in developing effective responses to forces and changes that affect the fulfillment ...

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