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Applying Portfolio Management as a Business Map

This article from the Project Management Institute website discusses the possibility of companies using their portfolio management as a business map.   Portfolio Management can help senior management check how their products and services are performing.   This will, in turn, maximize benefits and opportunities to plan for the following year.   And “portfolio management is the coordinated management of portfolio components to achieve specific organizational objectives.”  When we use a portfolio approach, senior managers coordinate how projects and programs are managed and gain deeper understanding of what they mean to the organization. Where I have worked, a portfolio is organized as a collection of business operations that share the same purpose. Portfolio management serves as our business map, where different business packages are laid out according to risk, profit and time. The author of this piece, Roger Chou, presents the readers with an interesting and useful methodology of reviewing the performance of your product and/or service.   He concludes with some advice, “Be sure to check if your strategic plan is well balanced and Make sure no element of your business is over-exploited or ignore, no mater how little profit it currently generates.”

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About Richard Wood

Richard Wood has been the publisher of CAI's Accelerating IT Success newsletter since its inception in 2011. A Marketing Major at Cal Poly Pomona he has been working with Computer Aid since 2001. He can be reached at richard_wood@compaid.com

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