Portfolio Planning

Explanation

In portfolio planning, organizations decide which projectsProjectA project is a temporary initiative with clearly defined objectives, resources, and a specific outcome. should be implemented and how they should be prioritized.

Various criteria are considered, such as strategic relevance, expected benefits, costs, risks, and resource requirements.

The goal is to select projects that contribute most effectively to the company’s strategy.
Portfolio planning is a core component of project portfolio managementProject Portfolio ManagementProject portfolio management refers to the centralized management of all projects within a company..

Synonyms and Abbreviations

• Project Portfolio Planning: planning of all projects within a project portfolio
• Portfolio Planning: strategic planningStrategic PlanningStrategic planning defines a company’s long-term goals and the initiatives required to achieve them. of projects within a portfolio
• Project Prioritization: evaluation and ranking of projects based on strategic importance