Unit of competency details

BSBPMG803 - Manage and review portfolio performance (Release 1)

Summary

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

Usage recommendation:
Current

Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
FNS - Financial Services Training PackageFinancial Services Training Package 2.0-3.1 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-1.2,2.0-3.0 

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.  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

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

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 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.

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

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/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 to ensure that projects/programs are meeting their identified 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/programs included in the portfolio

2. Portfolio continuous improvement

2.1 Continuously review and improve project identification and approval

2.2 Assess portfolio value and contribution to strategic priorities regularly through the monitoring and review of key performance indicator measures

2.3 Feed 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 Actively manage the portfolio to maximise achievement of organisational benefits

Foundation Skills

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

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 1.3, 1.4, 2.1, 2.2

  • Applies appropriate strategies to construct meaning from complex texts

Writing

1.2, 1.3, 1.4, 1.5, 2.1, 2.2, 2.3, 3.1

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

Oral Communication

1.5

  • Provides information using language and features appropriate to audience

Numeracy

1.2, 2.2

  • Interprets quantifiable data to effectively manage and review portfolios

Navigate the world of work

2.2

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

Interact with others

1.5

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

Get the work done

1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 3.1, 3.2

  • 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

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBPMG803 Manage and review portfolio performance

Not applicable

New unit

No equivalent unit

Links

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 

Comments 

Release 1

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

Performance Evidence

Evidence of the ability to:

  • 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 effectively to signs and symptoms of project/program failure and underperformance.

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 the portfolio review matrix
  • explain the cross project/program dependency map
  • describe the use of the portfolio review document
  • explain the project/program performance report or audit
  • explain use of the portfolio delivery map.

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 on how portfolio performance was reviewed.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

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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