Functions Of Portfolio Performance Management Essay
An organisation’s vision which includes the various environmental factors that influence the functioning of the organisation, provides definite paths for growth and development, which are critical for achieving the mission of a globalised organisation. Portfolio management is used to determine the ideal sequence of projects to be carried out to achieve the organisation’s mission. Project Management Institute (2013) states that the portfolio performance management is the systematic planning, measurement, and monitoring of the portfolio’s organisational value through achievement of the organisational objectives. It is widely accepted among various organisations, that the portfolio performance management is a critical tool required to fulfil the organisational strategy. Portfolio performance management includes the identification of project with a potential to benefit the organisation and allows the portfolio manager to invest the required resources into a specific project (Project Management Institute, 2013). The alignment an organisation’s regular performance measures to its overall objectives based on the portfolio performance management process, provides an insight into the organisational reactions towards its performance and how an organisation distributes its resources based on the requirements.
Context of Portfolio Performance Management In any organisation, project planning which includes project selection and…