Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with BSB Business Services Training Package Version 7.0. |
Application
This unit describes the skills and knowledge required to effectively manage and review a portfolio. It covers project and program oversight, continuous improvement across the portfolio and benefits management realisation.
A portfolio is the centralised management of one or more portfolios of projects, which includes identifying, prioritising, authorising, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives.
The unit applies to individuals who operate at the strategic level within the organisation. Unlike projects or programs, a portfolio does not have a finite life, instead it is a continuous process and requires regular tending to ensure the portfolio remains in balance and is consistent with the organisation’s strategic objectives.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Business Competence – Project Management
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Program and project delivery oversight |
1.1 Align the portfolio review cycle with appropriate project or program review points 1.2 Review project and program performance against respective plans and measure performance against continuously captured qualitative and quantitative data 1.3 Monitor the portfolio against projects or programs key objectives and benefits 1.4 Flag projects and programs not achieving planned performance for review and further investigation 1.5 Make recommendations to change projects or programs included in the portfolio |
2. Portfolio continuous improvement |
2.1 Review and improve project identification and approval 2.2 Assess portfolio value and contribution to strategic priorities through the monitoring and review of key performance indicator measures 2.3 Apply lessons learned into the project selection, prioritisation and portfolio balancing processes |
3. Benefits management and realisation |
3.1 Prepare and update portfolio delivery map showing the key timings and inter-dependencies between projects and programs and the associated benefits to be produced 3.2 Manage the portfolio according to organisational objectives |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
SKILL |
DESCRIPTION |
Reading |
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Writing |
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Oral Communication |
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Numeracy |
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Initiative and enterprise |
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Teamwork |
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Planning and organising |
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Unit Mapping Information
Supersedes and is equivalent to BSBPMG803 Manage and review portfolio performance.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10