The Standard for Portfolio Management – Fourth Edition identifies project portfolio management principles and performance management domains that are generally recognized as good practices for organizations that have business needs to effectively manage the complex and intense program and project investments. “Generally recognized” means that the principles and performance management domains described are applicable to most portfolios most of the time and that there is widespread consensus about their value and usefulness. “Good practice” means there is general agreement that the application of these principles and performance management activities can enhance the chances of success and are proven to work over a wide range of portfolios. Good practice does not mean the management activities described should be applied uniformly to portfolios; the organization’s governance and the portfolio manager are responsible for determining what is appropriate for any portfolio given its environment and in the context of the organization’s project and program management framework.
As PMI Member, download your copy of the Standard for Portfolio Management for free by the link – StandardForPortfolioMangementFourthEd.pdf. If the link is broken, you can find the Standard on the PMI website in the Foundational Standards section – PMI.org/pmbok-guide-standards/foundational.
To complete this task you should:
- Read the ‘Introduction’ chapter in the Standard for Portfolio Management, 4th Edition (Chapter 1).
- Watch the videos:
3. Additional video for the portfolio nerds:
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