BSB80415 - Graduate Diploma of Portfolio Management

This qualification is suitable for individuals who hold a senior role in the organisation who need to apply advanced knowledge and skills in a range of strategic portfolio management. For example, the Portfolio Managers.

Portfolio Managers at this level need to make high-level autonomous decisions and use initiative and judgement to plan and implement a range of project, program and portfolio management functions in varied contexts.

Portfolio Managers usually have full responsibility and accountability for personal outputs and for the work or function of others.

Listed on this page are the 4 core units and suggested 4  elective units of this qualification. There are total of 8 units in this course.

Core Units
Performance Criteria
BSBPMG801 Prioritise projects and programs

1. Identify projects and programs
1.1 Undertake a regular census to identify and capture all ideas, proposed, planned, active or inactive projects and programs in the organisation, the project sponsor and their project approval status

1.2 Capture macro-level project and program information for every project and program within the project portfolio

1.3 Implement ongoing identification and capture of project and program information using formalised tools and processes that are agreed to with executive management

2. Undertake strategic alignment2.1 Align and objectively score projects and programs against organisational strategic objectives

2.2 Identify and assess key drivers, internal and external sources of impact for projects and programs within the portfolio

2.3 Assess projects and programs to determine the degree of alignment with, and contribution to, one or more strategic objective

2.4 Highlight and flag projects and programs that do not align to one or more strategic objective for further analysis

2.5 Categorise projects and programs according to each strategic objective

3. Apply prioritisation
3.1 Identify, document and review organisational prioritisation methods to reflect changing organisational priorities

3.2 Agree on prioritisation criteria for project portfolio assessment with executive stakeholders

3.3 Prioritise projects and programs based on their alignment

BSBPMG802 Select and balance the portfolio

1. Undertake screening1.1 Review business case for each project/program to capture interfaces, emergent risks, resource requirements, business benefits and their timings

1.2 Determine business benefits to be achieved by mapping dependencies between projects and programs

1.3 Identify and add mandatory projects and programs to the project portfolio, where appropriate

2. Complete investment appraisal2.1 Identify desirability of project and programs based on their risk, projected benefits and business impacts assessment

2.2 Examine and adjust projects and programs that deliver similar business benefits and outcomes to remove duplication and take advantage of synergies

2.3 Commission feasibility studies in instances where additional analysis is required to determine investment merit

2.4 Undertake a comparative analysis to determine the most appropriate projects and programs to receive organisational investment

2.5 Determine the budget or financial profile for each project or program

2.6 Group related projects for management as a program to ensure relevant efficiencies are captured

3. Select projects and programs for the portfolio
3.1 Use a project selection model to select projects and programs that comprise the portfolio

3.2 Review the organisations ideal project and program mix regularly to calibrate the project selection model

3.3 Select projects and programs for inclusion in the portfolio based on the organisation's project selection model

3.4 Solicit project selection decision-making and support from executive management by preparing and presenting information

4. Monitor and apply approval status4.1 Review and update the project and program approval process on a regular basis

4.2 Make recommendations to executive management as to the projects to be included in the portfolio

4.3 Facilitate the approval of projects/programs to be included in the portfolio by executive management

4.4 Allocate projects and programs a selection status

4.5 Provide identified funding and resources to approved projects and programs

4.6 Identify rejected, cancelled or on-hold projects and programs with reasons for rejection

4.7 Cancel or put on hold those projects and programs currently underway that have been rejected from the portfolio

4.8 Communicate a list of approved and rejected projects and programs to stakeholders

BSBPMG803 Manage and review portfolio performance

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 improvement2.1 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

BSBPMG804 Govern the portfolio

1. Apply standards, models and approach1.1 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
Core Units
Performance Criteria
BSBPMG805 Lead the portfolio

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

BSBPMG806 Manage portfolio communications and change

1. Apply portfolio metrics, measurement and report
1.1 Develop and regularly review a portfolio communications strategy, for use by portfolio staff

1.2 Use a portfolio management information system to dynamically capture and manage information on projects and programs that comprise the portfolio and their status

1.3 Ensure progress reports to executive management show achievement or non-achievement toward strategic objectives

1.4 Communicate project selection criteria and project selection model throughout the organisation

1.5 Integrate portfolio data collection processes and systems into organisational processes and systems

2. Undertake stakeholder engagement and management
2.1 Ensure the organisational strategic management planning team interacts with executive management

2.2 Ensure the ideal portfolio mix considers internal and external stakeholders needs

2.3 Ensure the organisation fosters a culture of continuous improvement and of open internal disclosure of appropriate portfolio information

3. Communicate portfolio review outcomes3.1 Identify and communicate criteria to evaluate portfolio management success

3.2 Forward regular portfolio management reports containing strategic information of portfolio status and progress to key project stakeholders

3.3 Communicate projects selected for inclusion in and rejection from the portfolio along with the rationale for the decision

BSBPMG807 Manage portfolio resources

1. Assess portfolio resources capacity
1.1 Identify project and program resources based on resource forecasts

1.2 Capture a baseline of existing and proposed resources

1.3 Review, identify and assess the resource capacity of the organisation is regularly

1.4 Develop, review and update a portfolio resource strategy based on the status of projects and programs in the portfolio, taking into account the organisations resource constraints

2. Assess skills and experience2.1 Capture and maintain details of human resource skill sets and experience

2.2 Capture and maintain human resource availability and utilisation information

2.3 Highlight human resource deficiencies and strengths are and factor these into the organisational workforce and development plans

2.4 Implement strategies to resolve human resource deficiencies and imbalances

2.5 Assess readiness for change and determine impacts of change

3. Assign project and program resources
3.1 Allocate resources optimally based on organisational strategic priority of projects and programs within the portfolio

3.2 Forecast the impact on the organisation of project/program resource allocation and utilisation against plans

3.3 Identify and investigate resource gaps and conflicts, and take appropriate action to resolve the identified resource constraints, in alignment with organisational strategic priorities

4. Coordinate and prioritise resources
4.1 Coordinate cross-organisational resource assignment to support prioritised projects and programs, based on risk, quality and other requirements

4.2 Reallocate resources from projects/programs cancelled or put on hold