Unit of competency Outline
Date retreived
22/07/2026 6:01 PM AWST
22/07/2026 6:01 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.
Select and balance the portfolio
Select and balance the portfolio
Unit of competency
National Code
BSBPMG811
BSBPMG811
State Code
OCE58
OCE58
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 select and balance a portfolio. It covers the screening of projects and programs, undertaking investment appraisal, selecting and gaining approval and monitoring 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.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 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 and program according to task requirements to capture interfaces, emergent risks, resource requirements, business benefits and their timings
- 1.2 Identify 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
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
- 2.3 Commission feasibility studies in instances where additional analysis is required to determine investment merit
- 2.4 Identify most appropriate projects and programs to receive organisational investment using a comparative analysis
- 2.5 Determine the budget or financial profile for each project and program
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 and calibrate the project selection model
- 3.3 Select projects and programs for inclusion in the portfolio based on the project selection model used by the organisation
- 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
- 4.2 Make recommendations to executive management for projects to be included in the portfolio
- 4.3 Facilitate the approval of projects or 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
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUI84 | BSBPMG802 | Select and balance the portfolio | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BFR4 | BSB80220 | Graduate Diploma of Portfolio Management | Qualification |