Unit of competency Outline

Date retreived
22/07/2026 4:58 PM AWST

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Select and balance the portfolio

Select and balance the portfolio

Unit of competency
National Code
BSBPMG802
State Code
AUI84
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080399 - Business And Management, N.e.c.
Original Release Date
15/09/2015
Nominal Hours
90
Description
This unit describes the skills and knowledge required to select and balance a portfolio. It covers the screening of projects and programs, undertaking investment appraisal, selection and gaining approval for a portfolio.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.It 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 organisation’s strategic objectives.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Undertake screening
  • 1.1 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 appraisal
  • 2.1 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 status
  • 4.1 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
No information
No information
Replaced By
State Code National Code Title Type
OCE58 BSBPMG811 Select and balance the portfolio Unit of competency
State Code National Code Title Type
AVW4 BSB80415 Graduate Diploma of Portfolio Management Qualification