Portfolio manager

Portfolio manager - the role of the participant of project management. The main task of a specialist to perform this role is to manage a portfolio of projects. The portfolio manager is the role that small companies takes over the head of the company. In large companies, this role is performed by a separate one or more employees.

Main Tasks of a Project Portfolio Manager

Ensuring Strategic Alignment of the Portfolio
- Managing the project portfolio so that all initiatives align with the company’s strategic objectives.
- Defining the criteria for evaluating and prioritizing projects, and establishing the boundaries of the portfolio.
Managing Portfolio Management Processes
- Developing and implementing methodologies, processes, and practices for portfolio management.
- Building a governance system, including standards, decision‑making procedures, and escalation rules.
Monitoring the Execution of Portfolio Projects
- Controlling project execution in terms of timelines, budgets, resources, and performance metrics.
- Analyzing portfolio data and providing leadership with up‑to‑date information for decision‑making.
Managing Portfolio Resources
- Optimizing the allocation of resources among projects and programs.
- Balancing team workloads, managing competency gaps, and resolving resource conflicts.
Managing Portfolio Risks and Dependencies
- Identifying risks at the portfolio level, assessing them, and developing response measures.
- Managing inter‑project dependencies, resolving conflicts, and eliminating bottlenecks.
Evaluating Performance and Creating Value
- Assessing the value of projects, their contribution to the business, and return on investment.
- Optimizing the composition of the portfolio to maximize total benefits.
Managing the Portfolio Budget
- Forming and maintaining the portfolio budget, and allocating financial resources across projects.
- Monitoring actual spending, identifying deviations, and adjusting plans.
Coordinating with Stakeholders
- Maintaining regular communication with leadership, project teams, and functional departments.
- Providing reports on portfolio status, initiatives, and risks.
Developing Portfolio Management Maturity and Competencies
- Increasing the maturity level of portfolio management processes within the company.
- Mentoring portfolio analysts and administrators, and developing roles within the PMO.

Functions roles

Function	Stages of projects and additional processes
Consideration of a request for a project	Initiation project
Decisions on the project or on completion of the project	Project portfolio management
Setting priorities for projects in the pipeline	Project portfolio management
Adoption of the basic project plans	Project portfolio management