What is Portfolio Management, and what are best practices, tools and templates for teams and organizations?
Definition of Portfolio Management
Portfolio Management centralizes the management of all projects across an organization and their associated components, such as goals, resources, staffing, timeline, and budgets. Portfolio Management provides a high-level overview of the business’ projects and requirements, which allows managers to more effectively prioritize and implement upcoming projects based on ROI, risk factors, and strategic fit. In its broadest sense, Portfolio Management can be applied to any set of projects, but it is most often applied to business strategy and new product innovation management.
Description of Portfolio Management
Portfolio Management is an indispensable management tool and process that provides a high-level perspective of how aligned the organization’s projects are with its strategic objectives. It enables managers to not only track implementation of current projects, but also anticipate the necessary resources and likelihood of success of proposed projects, identifying potential barriers and risks prior to new project selection. This then allows for a more effective prioritization, implementation, and evaluation process. Portfolio Management also creates an inventory of all past projects, which assists in leveraging existing organizational capabilities.
Tools & Templates
Specific tools used in Portfolio Management often include software or spreadsheets that enable enterprise-wide insight into portfolios. More and more, Portfolio Management includes creating dashboards that outline KPI’s and metrics to ensure investments are made using a balanced view of low, medium, and higher risk projects.
upBOARD's Online Portfolio Management Tools & Templates
Unlike most traditional Portfolio Management techniques, upBOARD’s online Portfolio Management collaboration tools allow any team or organization to instantly begin working with our web templates, input forms and metrics dashboards. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s portfolio of other business strategy best practice tools and templates, including:
2 X 2 Matrix, ADL Matrix, Affinity Diagrams, Baker’s 4 Strategies of Influence, Balanced Scorecard, Benchmarking, Blue Ocean Strategy, Bowman Strategy Clock, Build-Measure-Learn Feedback Loop, Business Model Canvas, CAGE Distance Framework, Competitive Analysis, Competitive Landscape Analysis, Contingency Planning, Core Competence Analysis, Critical Success Factors, Discovery Driven Planning, Economic Value Added, First Mover Advantage, Five Forces Model, Force Field Analysis, Gap Analysis, GE McKinsey 9-Box Matrix, Go To Market Strategy, Hambrick & Frederickson’s Strategy Diamond, Hedgehog Model, Hook Model of Behavioral Design, Hoshin Planning System, Kay’s Distinctive Capabilities Framework, Key Outcome Indicators, Kotler’s Five Product Levels Model, Kotler’s Pricing Strategies, Lafley & Martin’s Five Step Strategy Model, McKinsey 7S Model, McKinsey’s Seven Degrees of Freedom for Growth, Mergers & Acquisitions, Mission Statements, Mullin’s Seven Domains Model, OGSM Framework, Ohmae’s 3-C’s Model, Partner Relationship Management, PEST Analysis, PESTLE Analysis, Porter’s Diamond, Portfolio Management, Purpose Statements, Pyramid of Purpose, Scenario Planning, Simonson & Rosen’s Influence Mix, SMART Performance Metrics, SMARTER Goals, SOAR, Strategic Goals, Strategy Map, Strategy Roadmap, Strategy Uncertainty Map, SWOT Analysis, TOWS Matrix, Triple Bottom Line, USP Analysis, Value Chain Analysis, Value Disciplines Model, Value Net Model, Values Statement, Vision Statements, VRIO Analysis, and Weisbord’s Six-Box Model.