Unit of competency Outline
Date retreived
22/07/2026 8:14 PM AWST
22/07/2026 8:14 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Govern the portfolio
Govern the portfolio
Unit of competency
National Code
BSBPMG813
BSBPMG813
State Code
OCE55
OCE55
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
16/03/2021
Field of Education
080399 - Business And Management, N.e.c.
Original Release Date
16/03/2021
Nominal Hours
90
Description
This unit describes the skills and knowledge required to provide governance over a portfolio. It covers applying standards, governance models and the portfolio charter.A portfolio is the centralised management of one or more portfolios of projects, which includes identifying, prioritising, authorising, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives.The unit applies to individuals who operate at the strategic level within the organisation. Unlike projects or programs, a portfolio does not have a finite life, instead it is a continuous process and requires regular tending to ensure the portfolio remains in balance and is consistent with the strategic objectives of the organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Prepare to govern
- 1.1 Develop disciplined governance arrangements for projects and programs within the portfolio
- 1.2 Develop business strategy according to project portfolio
- 1.3 Verify that all projects and programs within the portfolio have an approved plan prepared to organisational and legislative requirements
- 1.4 Verify decision-making competence of members of delegated authorisation bodies
- 1.5 Define criteria for reporting project status and for the escalation of risks and issues to the levels required by the organisation
2. Undertake governance activities
- 2.1 Prepare a portfolio charter, which clearly establishes portfolio governance and management roles, authorities, approval limits, responsibilities and the scope of portfolio control
- 2.2 Apply disciplined governance arrangements, supported by appropriate methods and controls, to projects and programs within the portfolio
- 2.3 Implement business strategy
- 2.4 Record and communicate decisions made at authorisation points
- 2.5 Support executive management to ensure appropriate independent assurance of projects/programs occurs
3. Monitor governance processes
- 3.1 Communicate required portfolio updates with portfolio stakeholders according to task and organisational requirements
- 3.2 Review the portfolio charter
- 3.3 Evaluate project performance against criteria for reporting project status
- 3.4 Identify areas for improvement
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUJ77 | BSBPMG804 | Govern the portfolio | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BFR4 | BSB80220 | Graduate Diploma of Portfolio Management | Qualification |