From the course: Project Portfolio Management Foundations

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Managing the lifecycle

Managing the lifecycle

From the course: Project Portfolio Management Foundations

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Managing the lifecycle

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- Portfolio management isn't a series of individual processes aligning different areas of business-planning and project delivery. It's a single, integrated approach to connecting strategy with execution to achieve business goals. Only when all of the different elements, from idea capture to benefits achievement are managed together, can the chances of success be optimized, kind of like a jigsaw puzzle. This overarching strategic approach supports the achievement of organizational goals by connecting every step with the overall journey of delivering business benefits. When businesses fall short of their goals, it's often because they're unaware that some of their actions are hurting their chances of success. Commonly, teams or individuals do what they think is best. But if they're operating without the full understanding of how their work contributes to business success, they'll inevitably make mistakes. Consider a situation where a project is late and over budget. Project management…

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