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Unit of competency details

BSBPMG812 - Manage and review portfolio performance (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBPMG803 - Manage and review portfolio performance 18/Oct/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 19/Oct/2020

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

Qualifications that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080399 Business And Management, N.e.c.  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080399 Business And Management, N.e.c.  19/Oct/2020 
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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
  • Applies appropriate strategies to construct meaning from complex texts

Writing
  • Documents results of reviews using appropriate organisational formats
  • Prepares documents to support portfolio management using format and vocabulary suitable to audience

Oral Communication
  • Provides information using language and features appropriate to audience

Numeracy
  • Interprets quantifiable data to effectively manage and review portfolios

Initiative and enterprise

  • Identifies the relationship between immediate tasks and organisational strategic objectives, and uses this to inform assessments

Teamwork

  • Selects and uses appropriate communication methods and practices to provide recommendations

Planning and organising

  • Develops flexible plans for complex, high impact activities with strategic implications, making changes when required
  • Monitors and analyses performance against plans to identify and implement improvements
  • Evaluates outcomes to identify process improvements

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

 

Assessment requirements

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • manage and review portfolio performance on at least one occasion.

In the course of the above, the candidate must:

  • identify how the portfolio can be continuously improved
  • apply types of qualitative and quantitative data and other metrics that can be used to determine project performance
  • determine and map cross project/program dependencies
  • respond to signs and symptoms of project/program failure and underperformance.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • portfolio review matrix, including the collection of qualitative and quantitative data and other metrics
  • cross project or program dependency map
  • use of the portfolio review document
  • project or program performance report or audit
  • use of the portfolio delivery map.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • workplace documentation and resources relevant to performance evidence
  • feedback from stakeholders, which reflects on how portfolio performance was reviewed.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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