Unit of competency details

BSBPMG802 - Select and balance the portfolio (Release 1)


ReleaseStatusRelease date
1 1 (this release)Current 25/Mar/2015

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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.  30/Jul/2015 
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Unit Of competency

Modification History



Release 1

This version first released with BSB Business Services Training Package Version 1.0.


This unit describes the skills and knowledge required to select and balance a portfolio. It covers the screening of projects and programs, undertaking investment appraisal, selection and gaining approval for a portfolio.

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.

It 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

Management and Leadership Project Management

Elements and Performance Criteria



Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Undertake screening

1.1 Review business case for each project/program to capture interfaces, emergent risks, resource requirements, business benefits and their timings

1.2 Determine business benefits to be achieved by mapping dependencies between projects and programs

1.3 Identify and add mandatory projects and programs to the project portfolio, where appropriate

2. Complete investment appraisal

2.1 Identify desirability of project and programs based on their risk, projected benefits and business impacts assessment

2.2 Examine and adjust projects and programs that deliver similar business benefits and outcomes to remove duplication and take advantage of synergies

2.3 Commission feasibility studies in instances where additional analysis is required to determine investment merit

2.4 Undertake a comparative analysis to determine the most appropriate projects and programs to receive organisational investment

2.5 Determine the budget or financial profile for each project or program

2.6 Group related projects for management as a program to ensure relevant efficiencies are captured

3. Select projects and programs for the portfolio

3.1 Use a project selection model to select projects and programs that comprise the portfolio

3.2 Review the organisations ideal project and program mix regularly to calibrate the project selection model

3.3 Select projects and programs for inclusion in the portfolio based on the organisation's project selection model

3.4 Solicit project selection decision-making and support from executive management by preparing and presenting information

4. Monitor and apply approval status

4.1 Review and update the project and program approval process on a regular basis

4.2 Make recommendations to executive management as to the projects to be included in the portfolio

4.3 Facilitate the approval of projects/programs to be included in the portfolio by executive management

4.4 Allocate projects and programs a selection status

4.5 Provide identified funding and resources to approved projects and programs

4.6 Identify rejected, cancelled or on-hold projects and programs with reasons for rejection

4.7 Cancel or put on hold those projects and programs currently underway that have been rejected from the portfolio

4.8 Communicate a list of approved and rejected projects and programs to stakeholders

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.


Performance Criteria 



1.1, 1.2, 1.3, 2.2, 2.4, 2.5, 2.6, 3.1, 3.2, 4.4, 4.6, 4.7

  • Applies appropriate strategies to construct meaning from complex texts


1.2, 1.3, 2.2, 2.3, 2.4, 2.6, 3.2, 3.4, 4.2, 4.4, 4.6, 4.7, 4.8

  • Documents results of screening and selection processes
  • Develops documents to communicate results of selection process using appropriate formats and vocabulary

Oral Communication

2.3, 3.4, 4.2

  • Presents information using language and features appropriate to the audience
  • Uses active listening and questioning techniques to confirm understanding


1.1, 2.4, 2.5

  • Interprets numerical data to determine resource requirements, budgetary needs and funding possibilities

Navigate the world of work

3.2, 3.3

  • Understands the relationship between immediate tasks and the broader goals of the organisation, and uses this to inform decision-making

Interact with others

2.3, 3.4, 4.2, 4.8

  • Selects and uses appropriate communication practices to provide information or commission feasibility studies
  • Plays a lead role in situations requiring effective collaboration and high-level influencing and negotiation skills

Get the work done

1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 2.6, 3.1, 3.3, 3.4, 4.1, 4.3, 4.4, 4.5, 4.6, 4.7

  • Develops and implements flexible plans for complex, high impact activities with organisational implications
  • Sequences and schedules activities to achieve planned outcomes
  • Uses analytical processes to evaluate information and decide on most appropriate options

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 


Equivalence status 

BSBPMG802 Select and balance the portfolio

Not applicable

New unit

No equivalent unit


Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10


Assessment requirements

Modification History



Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • prepare a dependency map
  • undertake a project selection process
  • prepare a detailed project register for a portfolio explaining selection, appraisal and approval monitoring
  • monitor and control the status of project and program approvals.
  • demonstrate use of analysis methods and techniques, including:
  • cost-benefit analysis
  • quantitative analysis
  • scenario planning
  • probability analysis
  • graphical analysis methods
  • demonstrate representing multi-dimensional and complex information in creative ways including:
  • bubble charts
  • three-dimensional graphs
  • balanced score-card matrix
  • pair-wise comparison.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • explain criterion prioritisation models
  • summarise supply and demand concepts
  • compare methods to determine organisational human resources capacity
  • explain the structure and use of business cases and feasibility studies.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the management and leadership project management field of work and include:

  • access to workplace documentation
  • feedback from stakeholders, which reflects how selection and balance across the portfolio was achieved.

Assessors must satisfy NVR/AQTF assessor requirements.


Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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