About Portfolio Management
Organizational portfolio management treats organizational projects, assets, and resources as investments managed in a portfolio to achieve goals and minimize risk, just as a financial portfolio is managed. The PMO functions as the investment manager, monitoring performance and advising decision makers about optimal balance of long-term and short-term gains, risk and reward, and strategies to maximize objectives.
Organizational portfolio management includes selecting and prioritizing projects and aligning resources to meet strategic objectives. Priorities are continually evaluated and the portfolio fine-tuned by augmenting, reducing, or redirecting resources or eliminating projects altogether.
The Enterprise IT Governance structure and university leadership set the long-term objectives and strategies by which the portfolio is managed. The Enterprise Chief Information Officer informs and advises the governance structure on current and emerging technologies, opportunities to enable innovation or automate processes to gain efficiencies, risks and rewards of present and future IT architectures. The PMO supports and facilitates the governance process, executes the directives, and provides transparency into the process and outcomes for constituents.