# Portfolio Management

Selecting, prioritizing, and balancing a set of programs and projects so the mix best advances strategic goals within available resources.

Portfolio management is the practice of choosing the right work to do and continuously rebalancing it. It weighs each initiative against strategic objectives, expected value, risk, and capacity, then governs the portfolio through its lifecycle with stage gates and prioritization scoring.

Where program and project management focus on delivering work well, portfolio management focuses on doing the right work — ensuring investment flows to the initiatives most aligned with strategy.

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