Release 

Comments 

Release 1

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

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

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

1. Apply standards, models and approach

1.1 Incorporate legislative, regulatory or business requirements and changes into portfolio management decisions and controls

1.2 Apply disciplined governance arrangements, supported by appropriate methods and controls, to projects and programs within the portfolio

1.3 Implement a supportive and coherent relationship between business strategy and project portfolio

1.4 Ensure that all projects/programs within the portfolio have an approved plan containing authorisation points at which the business case is reviewed and approved on an ongoing basis to determine the continued validity of investment, organisational exposure and return

1.5 Record and communicate decisions made at authorisation points

1.6 Ensure members of delegated authorisation bodies have sufficient representation, competence, authority and resources to enable them to make appropriate decisions

1.7 Support executive management to ensure appropriate independent assurance of projects/programs occurs

1.8 Clearly define criteria for reporting project status and for the escalation of risks and issues to the levels required by the organisation

1.9 Foster trust by engaging portfolio stakeholders at a level that is commensurate with their importance to the organisation

2. Develop the portfolio charter

2.1 Prepare and regularly review a portfolio charter, which clearly establishes portfolio governance and management roles, authorities, approval limits, responsibilities and the scope of portfolio control

Skill 

Performance Criteria 

Description 

Reading

1.3, 1.4, 2.1

• Applies appropriate strategies to construct meaning from complex texts

Writing

1.5, 1.8, 2.1

• Develops governance documentation using organisational formats and vocabulary suitable for the audience
• Records results of decisions using format and vocabulary suitable for the audience

Oral Communication

1.5

• Shares information using language and features appropriate to the audience

Navigate the world of work

1.1, 1.2, 1.3, 1.8

• Understands and adheres to organisational, legal and regulatory requirements

Interact with others

1.5, 1.7, 1.9

• Selects and uses appropriate communication methods and practices to provide recommendations
• Invests time in building and maintaining effective and trusting relationships within immediate work context

Get the work done

1.1, 1.2, 1.3, 1.4, 1.6, 1.8, 2.1

• Develops flexible plans to manage complex, high impact activities with strategic implications
• Regularly reviews outcomes against requirements to determine the need for change

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBPMG804 Govern the portfolio

Not applicable

New unit

No equivalent unit

Release 

Comments 

Release 1

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