Portfolio management involves centralized management of one or more portfolios, including selecting, prioritizing, and managing work. It helps organizations gain clarity on how to best allocate scarce resources to the most valuable work. The document outlines steps for effective portfolio management implementation, including making a senior executive commitment, determining project scoping and throughput capacity, installing a project scoring model, establishing balance, allowing projects to support strategy, scoring projects based on resources, and following these steps for successful implementation. Effective portfolio management can significantly improve a company's performance.

3. Portfolio management is the centralized management of one or
more portfolios which includes selecting, prioritizing, and
managing work in the organization.
Identifying prioritizing
authorizing managing

4. Portfolio Management helps gain clarity on how and where should the budget be
spent, and how to best validate scarce resources, for the most valuable work.

6. Make a serious commitment:
The senior executives of the company,
should first get together, to commit to
install, a systematic portfolio
management process, believing that it
will change the face of the
organization’s performance.

7. Get a good grasp on project scope and
estimation:
A company needs to grasp project scoping,
estimation, project management, and
control before portfolio management is
introduced into the organization,

8. Determine the Throughput capacity:
The throughput capacity of the projects in
the pipeline is decided by allocating
budgets in a calendar for a year.

9. Install a project scoring Model:
A brainstorming session is held during a
project portfolio meet, to elucidate, the
scoring approach and come up with
different variables.

10. Establish a balance:
Establishing a proper balance is
important because sometimes it is
easy to lose sight of larger
initiatives while being stuck with a
relatively smaller one.

11. Allow projects to assist the
implementation of company Strategy:
Ensure that all the projects, contribute
to the implementation of the
organization’s strategy, in some way.

12. Now score your projects:
All project proposals should ranked,
and project points should be
determined, based on availability of
resources. The scoring model,
prepared by the executives, should be
used, to determine where each project
should stand.

14. Following the above steps, will ensure an organization’s successful
Portfolio Process implementation. Effective portfolio management
can do wonders to a company’s performance levels.