The Portfolio Node recognises that Portfolios are the conduits between objectives from Main Board (or the Operations, Product or Change Sub-Group of it) and the activity to realise them. References to respected publications are made, and assumptions around portfolio management are offered to provide context for the Portfolio Node. An aspect to the assumptions is the definition of the key portfolio roles of Direction and Progress groups. Governance Agendas are provided for the Portfolio Direction (PDG) and Progress (PPG) Groups respectively, assuming they are separate bodies, but recognising there are scenarios for Portfolio Governance in which they are combined.   

The PDG is responsible for achieving the strategic objectives: 

Progress and Status - overall Portfolio progress/performance/accomplishment, escalations and exceptions, review of cost/resource performance. 

Enablers - a re-statement or review of the overall strategic goals and imperatives stated as objectives/challenges and their status, highlighting new ideas, input from the market in terms of satisfaction threats, opportunities, trends and the trend in risk appetite, customer feedback, and health/safety metrics. 

Prediction - a look forward, focusing heavily on outcomes and confidence trend in the achievement of those outcomes and includes review of forecast overall costs, resource issues, review of risks and confirm priorities/balance of finance/resources commitment 

The PPG is responsible for achieving the objectives delivery: 

Progress and Status - looks backwards and focuses on historical trend and last period delivery performance/issues, overall accomplishment, escalations and exceptions, review of cost/resource performance, review of additional/front door proposals for potential inclusion in the Portfolio, review of assurance escalations. 

Enablers - review of objectives (e.g. changes in underlying drivers), key people performance review (e.g. Sponsors, Delivery Manager effectiveness), efficiency and effectiveness trend review, lessons learned realisation, culture and ethics implications review, satisfaction reviews (staff, customers) and review of current Portfolio balance. 

Prediction - looking forwards and consider changes to strategic direction, market place changes, risk changes, etc. Review risk and confidence – in delivery/outputs/outcomes, cost/resources estimates to confirm priorities/balance of finance/resources commitment and enable Portfolio items to commence, take escalations. To react to confidence of achieving the strategic goals. To then wrap up decisions/actions and communications. 

Each agenda is broken down into sections, wherein topics are listed, described and include frequency, inputs, outputs and MI element definitions. 

Further information is available within the Core P3M Data Club including the detailed materials underpinning the node definition, example management information examples to support the PDG and PPG agendas, an example data collection spreadsheet, a data definition, an example data model and dashboard prototypes. This material is shared in the public domain for use ‘as is’ and for public, collaborative development which the voluntary Core P3M Data Club will manage. It is on a roadmap for release into Praxis. 

Further work is expected to share implementation stories, capture further MI examples, and develop agenda for specific Operational and Product Portfolio management application, which depend on the contribution from volunteers (practitioners, consultants and tool vendors). 

Link to content here.

Portfolio ‘Governance Agenda’