8. Portfolio Management (Contd) High Level Strategic Level Processes Corporate Planning Definition This process establishes the Corporate Plan, which sets out the organisations priorities and details how they will be achieved. Corporate objectives and priorities will embody the vision and values of the organisation. Definition bridges potential gaps between strategy planning and project delivery. This is achieved by articulating the strategic requirements for change into logical groups of project that clearly map project and programme outputs to the strategic and performance outcomes desired by the organisation. Selection Monitor Track & Corrective Actions During the Project selection process key information relating to each project is collected and analysed before a process of prioritisation based on predetermined selection criteria begins. Project approvals will confirm decisions based on sound judgement and a rationalised approach to selecting each project portfolio. This process provides a helicopter view of the organisation’s delivery and investment commitment and is designed to maintain the optimum portfolio of projects. This process will monitor and review all programmes and projects upto the point they produce the outcomes or capability they were designed to deliver. Portfolio management continues to track the realisation of benefits beyond the life of the project or programme. Portfolio management identifies and recommends any necessary intervention strategies or measures in response to an unexpected shortfall in the desired level of programme or project benefit. Core Capabilities Benefits Management Risk Management Strategic Management Capacity & Capability Management Project & Programme Management Organisation Infrastructure Building Blocks Methodology Tools Governance Processes Investment & Performance Management Competency