Portfolio management POMG

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Developing and applying a management framework to define and deliver a portfolio of programmes, projects and/or ongoing services.

SFIA 9 is in development

SFIA 9 beta due in early July 2024
SFIA 9 planned for publication October 2024

Guidance notes

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Activities include, but are not limited to:

alignment of investment with specific business strategies and objectives
a strategic investment appraisal and decision-making process
assessment of cost, risk, inter-dependencies, and impact on existing business activities
identifying issues with portfolio structure, cost, risk, inter-dependencies, impact on current business activities and the strategic benefits to be realised
implementing portfolio management practices that support iterative/agile working
measurement and objective evaluation of potential changes and the benefits to be realised
prioritisation of resource utilisation and changes to be implemented
regular review of portfolios
management of the service pipeline (proposed or in development), service catalogue (live or available for deployment) and retired services.

Understanding the responsibility levels of this skill

Where lower levels are not defined...

Specific tasks and responsibilities are not defined because the skill requires a higher level of autonomy, influence, and complexity in decision-making than is typically expected at these levels. You can use the essence statements to understand the generic responsibilities associated with these levels.

Where higher levels are not defined...

Responsibilities and accountabilities are not defined because these higher levels involve strategic leadership and broader organisational influence that goes beyond the scope of this specific skill. See the essence statements.

Developing skills and demonstrating responsibilities related to this skill

The defined levels show the incremental progression in skills and reponsibilities.

Where lower levels are not defined...

You can develop your knowledge and support others who do have responsibility in this area by:

Learning key concepts and principles related to this skill and its impact on your role
Performing related skills (see the related SFIA skills)
Supporting others with tasks (generic examples are provided by the essence statements for each level)

Where higher levels are not defined...

You can progress by developing related skills which are better suited to higher levels of organisational leadership.

Levels

Defined at these levels:

Click to learn why SFIA skills are not defined at all 7 levels.

Show/hide extra descriptions and levels.

Level 1

Level 1 - Follow: Essence of the level: Performs routine tasks under close supervision, follows instructions, and requires guidance to complete their work. Learns and applies basic skills and knowledge.

Level 2

Level 2 - Assist: Essence of the level: Provides assistance to others, works under routine supervision, and uses their discretion to address routine problems. Actively learns through training and on-the-job experiences.

Level 3

Level 3 - Apply: Essence of the level: Performs varied tasks, sometimes complex and non-routine, using standard methods and procedures. Works under general direction, exercises discretion, and manages own work within deadlines. Proactively enhances skills and impact in the workplace.

Level 4

Level 4 - Enable: Essence of the level: Performs diverse complex activities, supports and supervises others, works autonomously under general direction, and contributes expertise to deliver team objectives.

Portfolio management: Level 5

Level 5 - Ensure, advise: Essence of the level: Provides authoritative guidance in their field and works under broad direction. Accountable for achieving workgroup objectives and managing work from analysis to execution and evaluation.

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Ensures that programme/project leads and/or service owners adhere to the agreed portfolio management approach and timetable.

Explains what information is needed and ensures they provide this information to agreed targets of timelines and accuracy.

Produces reports as appropriate for portfolio governance, including making recommendations for changes to the portfolio.

Portfolio management: Level 6

Level 6 - Initiate, influence: Essence of the level: Has significant organisational influence, makes high-level decisions, shapes policies, demonstrates leadership, fosters organizational collaboration, and accepts accountability in key areas.

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Engages and influences senior managers to ensure the portfolio will deliver the agreed business objectives.

Leads the definition of a portfolio of programmes, projects, and/or on-going service provision. Plans, schedules, monitors and reports on portfolio-related activities. Ensures that each part of the portfolio contributes to the overall achievement of the portfolio.

Identifies portfolio-related issues. Notifies projects/programmes/change initiatives of issues and recommends and monitors corrective action.

Collects, summarises and reports on portfolio measures. Reports on portfolio status as appropriate.

Portfolio management: Level 7

Level 7 - Set strategy, inspire, mobilise: Essence of the level: Operates at the highest organisational level, determines overall organisational vision and strategy, and assumes accountability for overall success.

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Authorises the structure of portfolios and aligns the portfolio with strategies, objectives and emerging opportunities.

Leads the definition, implementation and review of the organisation’s portfolio management framework. Sets parameters for the prioritisation of resources and the changes to be implemented.

Recommends and implements corrective action by engaging and influencing senior management.

Leads the on-going monitoring and review of portfolios for impact on current business activities and the strategic benefits to be realised. Implements portfolio governance arrangements and effective reporting.