Unit of competency Outline
Date retreived
23/07/2026 5:48 AM AWST
23/07/2026 5:48 AM 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
BSBPMG804
BSBPMG804
State Code
AUJ77
AUJ77
TGA Status
Replaced
Replaced
DTWD Status
Transition (Replaced)
Transition (Replaced)
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 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.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. Apply standards, models and approach
- 1.1 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
No information
No information
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OCE55 | BSBPMG813 | Govern the portfolio | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| AVW4 | BSB80415 | Graduate Diploma of Portfolio Management | Qualification |