AS ISO 21504:2016 pdf free

AS ISO 21504:2016 pdf free.Project, programme and portfolio management – Guidance on portfolio management
Portfolio management should include a set of interrelated organizational processes and methods by which an organization allocates resources to implement its strategic objectives.
Portfolio management aligns the portfolio components with an organization’s strategic objectives,stakeholder priorities, and values such as sustainable practices and ethical principles. As shown in Figure 2, portfolio management may also be described as a continuous decision-making process,whereby an organization’s list of portfolio components is subject to periodic review for alignment with the organization’s strategy. In this approach, new opportunities or threats are evaluated, selected,prioritized and authorized. Portfolio components may be modified, accelerated, postponed or terminated.
A portfolio may be structured as a hierarchy in which higher-level portfolio components are made up of several lower-level portfolio components, as illustrated in Figure 3. There are other relationships not illustrated in Figure 3, such as regarding resources, technology and communication. The portfolio structure represents a ‘snapshot’ of portfolio components and is reflective of the strategic objectives of the organization to which it is aligned.
Decision makers should determine if the work within the portfolio can be accomplished. An organization should provide and maintain the capabilities it needs to run the organization in its current state and to implement the necessary changes to move it towards its strategic objectives.
A portfolio constraint may keep the portfolio from achieving the envisioned strategic objectives or cause the strategic objective to be modified or reprioritized. Constraints can originate from internal or external sources. The organization should have direct control over internal constraints, however the organization may only be able to influence, comply with or react to external constraints. Constraints may include factors such as governance, resources, social responsibility, culture, risk tolerance,sustainability and legal or regulatory requirements.
Decision makers should be assigned their authority, accountability and responsibility to take actions by the owners or legal entity controlling the organization. Such authority should be assigned for specific actions and decisions and is limited to the portfolio and its components. Other roles and responsibilities should be defined together with the limits of any assigned authorities. Portfolio management requires competent individuals applying their knowledge and experience. Executives and senior management should demonstrate leadership and commitment with respect to portfolio management.AS ISO 21504 pdf free download.