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 lead the portfolio. It covers the providing of effective leadership and management within the portfolio, and ensuring a vision is developed and communicated.
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. Lead the portfolio team |
1.1 Champion portfolio management within the organisation 1.2 Justify portfolio management resourcing regularly, and quantify and communicate the associated value provided to the business 1.3 Brief and support project/program sponsors throughout the project/program lifecycles 1.4 Assess performance of portfolio management office staff regularly and provide feedback 1.5 Influence internal and external stakeholders |
2. Make strategic decisions |
2.1 Establish a portfolio vision including a strategic plan, vision statement, charter and business plan 2.2 Communicate the portfolio vision to stakeholders according to organisational requirements |
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 |
1.2, 1.4, 2.1 |
|
Writing |
1.2, 1.3, 1.4, 2.1, 2.2 |
|
Oral Communication |
1.2, 1.3, 1.4, 1.5, 2.1, 2.2 |
|
Numeracy |
1.2 |
|
Navigate the world of work |
2.1, 2.2 |
|
Interact with others |
1.1, 1.2, 1.3, 1.4, 1.5, 2.1, 2.2 |
|
Get the work done |
1.1, 1.2, 1.3, 2.1 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
BSBPMG805 Lead the portfolio |
Not applicable |
New unit |
No equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10