Portfolio Management is the most effective way to implement strategic initiatives, it bridges the gap between strategy and implementation. It is the application of management activities to a collection of programs, projects, and/or operations to achieve strategic business objectives.
Portfolio Management is mainly focused on addressing this major gap in organizational project management and it is commonly viewed as the apex of the project management professional ladder. Portfolio managers align projects, programs, and operations with strategic objectives, investing resources in the right work to deliver the expected value. Organizations with mature project portfolio management practices complete 35 percent more of their programs successfully. Portfolio Management is not just about ensuring profits but cohesively binding projects within the portfolio so that they work in tandem to achieve the global goals of the organization.
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