The Core P3M Data Club was formed to create a data standard for portfolio, programme and project management. This enables us to more effectively deliver business integrated governance for Business as Usual and Change. This means our journey from Main Board objectives, targets and challenges can be delivered through portfolios, programmes and projects in the context of finance, management teams, support and assurance more easily and effectively. This will deliver more strategy outcomes, greater business agility, lower management overhead and efficiency benefits. On from Main Board, this document outlines the assumptions we make around how Portfolios operate in translating Objectives for change into programmes and projects. We offer a business agenda for Portfolio Direction and Progress Groups that has a Change focus, and present management information definitions that we believe will support the business agenda. From this, we have derived a data model that would support the MI for the business agenda and have integrated this with the Core P3M Data Model. Link to higher resolution copy here: https://1drv.ms/w/s!AscRj7Bfp6vQgokByksCd_dKL1j7TQ?e=ua4rfD Find out more and collaborate here: https://www.linkedin.com/groups/13651399/

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This work is licensed under a Creative CommonsAttribution-ShareAlike 4.0InternationalLicense.

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Portfolio
Thisdocumentintroduces the PortfolioManagementtopicsinthe Model andexplainsthe
categoriesof Portfoliowe have consideredinourexample scenario, andhow theyrelate to
managementteamsandMainBoard.
Portfolios are writtenaboutextensively bythe APMand the PMI, are the subjectof an Axelos
Publication“Managementof Portfolios®”andfeature centrally inthe PraxisFramework. This
guidance buildsonthose foundations,offeringassumptions andgivingspecificsuggestionsfor
Portfoliogovernance, supportingMIneedsandhence dataimplications basedonanexample
scenario.
Assumptions
A Portfolioisacollection of assetsinteracting(ruleset) inactivitiesthatare boundinsome way
for governance (suchas- theyare delivered bythe same groupof assetsand or delivertothe same consumers andorare conductedinthe same
governance spansuchas a financial year/biennium/trienniumetc.)
A Portfoliorequiresanaccountable leaderwhomaybe an individual oracommittee exercisingauthoritythroughitschair. Accountability coverssetting
goalsand allocatingresources. Todothat the Portfoliolikely followsvaluesandprinciples thatitinterpretsanddelegatesaspolicy.Goalsandvaluesare
primarily achieved/followed bydecisionmakingthatcombinesaview of the future, the presentandthe pastwithopinion, preference, values, meaningand
pressures.
A Portfoliomaybe a subsetof a higherentity. Governanceatthe Portfoliolevel consistsof balancingresponse topressures inordertoreturnthe maximum
benefittostakeholders. PortfolioFunctionsare thusdeterminingwhostakeholders are andtheirinfluence andinterests, establishingagreedupon
objectives, agreeduponpathstoobjectives, andthe statusof actionson those pathswithprojectionof where continuedactionwill potentially deliverthe
Portfolioto.
These principlesof participation, procedures, datagathering, analysis, anddecisionmakingrepeatwithinthe Portfolioforoperational (calendardriven)
activitiesandchange/eventdrivenatthe scale of programme (change fromidea, throughselectiontostabilisingimpactsonoperations) andproject
(developmentof solutiontoneed). The Core P3MData Clubhassought toplace the rightdata intothe right analysisprocessestosupporttimely (and
hopefully excellentandimproving)decisionmaking.
From APMDirecting
Change

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Portfoliopolicy isinterpretedbyprogrammestocreate processes andprocedures. Proceduresare enactedatprojectandprogramme level. Procedures
define the activitiesthatare undertaken toachieve the hierarchy of outputs, outcomes, goals, objectives, visionandmission.
In the example scenario, we have classifiedsome distinctPortfoliotypes- asoutlinedbelow. Organisationsmayhave one ormore of these Portfoliotypes.
However, all include:
 Business casesandstrategicobjectives impliedinBusiness/OperatingPlans(strategicorfinancial)
 DesiredoutcomesarisingfromTargetsgiventoBusinessasUsual (BAU) and ObjectivesgiventoChange Portfolios
 Remitanddefinition of relatedgovernance responsibility
 Prioritywithinthe business,Finance andresources
Examplesof Portfoliosanorganisationmayhave:
Change
 Strategy Advancement/TransformationPortfolio- corporate level. SuchPortfoliosare characterisedby
o significantstrategicbusiness case
o corporate risk/highpriority
o top downbudgetsandhigh-levelsponsorship
o delivery primarily throughclearprojectsandprogrammes
o benefitrealisationandstrategyattainmentgoals
 Innovation – insteadof leading‘topdown’ some organisations open‘Challenges’ thatmaysolicitresponse ‘Bottomup’ andmaybe a greatsource
of advancementopportunities thathave notbeendevelopedfromstrategy
o Corporate Innovation– These maystart witha top downChallenge fromMainBoard, go cross company andhave dedicatedfundingtobe
creative with
o Local Innovation - These maybe local to a ManagementTeamdomainandbe fundedoutof local operational budgetsusinglocal resources.
An organisationmaywantvisibility againstlocal initiativesconsumingfinanceandresources thatare non-strategicitemsforopportunistic
overall improvement.Visibilityalsoavoidsduplicationacrossthe organisationandcanstop initiatives (whichmayotherwisebe leftas
obsolete byanew corporate initiativeordirectionchange) oralternatively acceleratethose thatare beneficial.

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Businessas Usual
 Operational Work - is certainly notclassified as‘Change’, butdistinctAccountability Nodescan/shouldbe identifiedinaPortfolioandmanaged
alongside initiativesthatare classified as‘Change’ whenbothBAUand change initiatives have dependencies betweenthem, draw onthe same
resource poolsand/ortime boxedfinance pots.
In additiontoservice workstreamsorproduct/assetdevelopment, whilenotdirectly deliveringchangestoattainstrategy, local change/operational
improvementiskey tostrategy attainmentif itsupportsBAUTarget attainment. Forexample - we can’tachieve strategy if salesdon’tmaterialise to
fundit.
Furthermore, the BAUManagementTeammay use “projectsandprogrammes”tactically todelivertime boxed/definedoperational work, using
workplanningtechniques andsystemsforPortfolioitemsthatare not classifiedasmajorprojects.
 CustomerPortfolio- is a special case of BAU because of the needto capture costs accurately, togenerate revenuedirectly (e.g.revenue projects-
not call centre type services) andtoaffectcorporate metricslike customersatisfaction. CustomerPortfolios typically have a‘Business Manager’
accountable forsales, revenueandprofitability - anddependingonwhethertheyhave responsibility foradelivery team–qualityandcustomer
satisfaction. BusinessManagerswillhave abusiness planandtargetsandmanage delivery via‘service management’ortactical use of
projects/programmes, and‘contractmanagement.
 Asset/Product Portfolio.Asset/ProductManagersmaybe accountable forproduct performance, whichmaybe supported byadedicatedteam, or
a flexible teamdrawnfromwithinthe businessmatrix. The Asset/Productwillhave abusiness planandtargetstojustify itsuse of
finance/resourcesandmaybe deliveredviaprojectsorcontinuous releases.
While inthe past,separate processes/governance/systemsforcustomerdelivery, engineeringmanagement, andtransformationplanningmayhave
providedusefuladvancesincapability, these maynow be seenas‘islandsof automation’ whichpreventthe “bigpicture”beingachieved. Hence more
organisations understandthata BAU workstreamisjustan Accountability Node the same asa projectexceptthatithas a differentplanshape, leadership
and accountability. Tomanage bothworktypeseffectively, bothmustbe broughttogethertoenable overallprioritisation/dependency/resource/financial
managementsothat(forexample) the ‘change lead’ cansee workcommitmentsanddependencies forpeopleintheirprojectandthe ‘line manager’ can
see whenexternal commitmentsare requiredintheirteams.
WhichPortfoliosanorganisationwantstomanage togetherisachoice. Some maywant to focusonlyon ‘Change’, otherson‘Customer’and
‘Asset/Product’,perhapssome willwanttooversee all.Withorganisations doingmore workin‘projectlike’ butnotprojectways, the term“Project

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PortfolioManagement”isbecomingalessthanall-encompassingterm,andmore are lookingto‘ModernWork Management’ and‘Agile’ approaches asthe
definitions of projectsandprogrammesblurorbecome un-necessary .Whatremainsisthe needtomanage priorities, dependencies, resources, risks,
benefitsandfinancesirrespective of anentitybeinga‘project’, and‘product’oran ‘initiative’.If organisations define thesePortfolios incommonways,
thenthe itemscan be visualised together, and:
- Value maximised–asspendingisfocusedonbestoptionsandduplication isreduced
- Problems solvedwithoutcausingchaos– implications canbe managed
- “Business Agility”enabled–asit becomes clearwhatchoicesthere are if rebalance isneeded.
Key PortfolioRoles
Bestpractice (inthiscase derivedfromManagementof Portfolios®), suggests
that we shouldsplitthe governance of Portfoliosinto2distinctroles–
PortfolioDirectionandPortfolioProgressGroups(PDGandPPG).These two
roles, however, maybe carriedoutby one combinedPortfolioGroupinsome
organisations. Itdepends onthe situation.
Notonly may PDG and PPG overlap, buttheymaywell alsooverlapwithMain
Board functionstoo.Clearly, rolesandresponsibilities needtobe crystal clear
so that accountability canbe properly allocated.
SubPortfolios maybe ledbya (Business Unit) ManagementTeamleaderwho
takeson a PDG role for initiatives containedwithintheirdomain–the
ManagementTeamLeaderiseffectively the Sub-PortfolioSponsor.
ManagementTeamsleadthe Operation, butalsomake ultimate decisions
aboutresourcingandbenefitrealisationwithintheirdomains. The
ManagementTeamcan alsotake onthe PPGrole for theirsub-Portfolio, but
thismay be delegatedtoasub-committee/directreportof the Management
Team.
Where a business unitisnotthe ‘Lead’business unitforasub-Portfolio, a
ManagementTeamLeadermightstill supportaPPG ledina sibling

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ManagementTeamand be responsibleforsome resourcingandbenefitdelivery.
ManagementTeamsmayof course use differentlanguage, andrecoil atP3Mbasedterminology. Forexample, the SalesDirectormayineffectrunthe
PortfolioDirectionGroupfortheirCustomerPortfolio–but insteadof “Programmes”there maybe “Business Streams”witha“Business Manager”and
insteadof “projects”, “Accounts”witha “Relationship Manager”etc. Ensuringclearaccountabilities androleswhateverthe title iscrucial.
A keyaspectto PDG, PPG, ManagementTeamsand Finance isthe needtoshare data. For controlsdayto day, we needlive data, butforstrategyand
performance review/decisionmaking–we needreliable, integrateddata– butto have thislive isperhapsun-necessary andexpensive. Itistherefore vital
to orchestrate governance operationanduse cadence toharmonise. A discussion of thiscanbe foundinthe FrameworkOverview
Linksto a model explainingPDG, PPGrelationtoManagementTeamscan be provideduponrequest.

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Portfolio Direction Group
Assumptions
The followingmaterial is derivedfromManagementof Portfolios®,andoffersasetof assumptionsunderlyingthe businessof the PortfolioDirectionGroup
(PDG) for thismodel andprovidesguidance:
 PDG Consistsof the Main Board members andManagementTeamheads whoare collectivelyaccountableforensuringthatthe Portfolio
deliversthe changes,outcomesandbenefits withinthe organisation’s strategicobjectives
 Makes proactive decisionsandprovidesoversight,directionandleadershipthatenergisesthe deliveryteamsandthe organisationtoachieve
the objectivesof the strategy
 Meetingsmaybe attendedbyadditional memberswhere required,includingthe PortfolioManagement,SeniorBusinessChange or Programme
ManagementRoles
 Accountable tothe Main Board (orits Change Sub-Group) forrealisationof strategicoutcomesfromthe Portfolio
The PDG hasthe followingassumedresponsibilities:
 Constantlymonitorthe environmentandmarketforimpactson the strategicdirectionof the Portfolio
 Ensuringthat the Portfolioremainsoncourse (ordirectionischanged) todeliverthe desiredstrategicbenefitsandoutcomes
 Overall ownership,oversightanddirectionof the Portfolio.Setthe strategicvisionforthe Portfolio
 SettingcriteriaforPortfolioinclusion
 Ultimate decisionbodyoncontentof the Portfolio–inclusion,removal,priorityof initiativesinthe Portfolioandthe strategicbalance
 Ensure that BAU and the Change Portfolioare alignedeffectivelytodeliverthe StrategicObjectives.
 Ensure that any conflictsbetweenthe PortfoliodeliveryandBusinessasUsual that cannot be resolvedbythe PPGare addressed.
 Delegate translationof strategicobjectivesintospecificprioritised,balancedandplanned Portfolioitemsandoversightof deliverytothe PPG
 Reviews the statusof the PortfolioregularlyviaManagementDashboards(focusingonprediction/forecastof achievementof strategic
outcomesandbenefitswithinthe mediumtolongtermenvironment/market
 ReviewrecommendationsandissuesfromPortfolio ProgressGroupandmake decisionsaccordingly
 Manage expectationsof strategicstakeholders

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Agenda & Dashboard – PDG
The processof arrivingat actionsanddecisionsforthe Portfolio
Directionis referredtohere asan “Agenda”,as we believe thatmuch
of the decisionmakingneedstobe concludedata meeting(oraseries
of cyclical meetings) where decisionsare captured,andactions
allocated.
The keyinformationthatthe PDG needstointerrogate toprovide
effectiveoversightissummarisedinthe Dashboardbelow:

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Progressand Status - Thissectionlooksbackwardsandpicksup
overall Portfolioprogress/performance/accomplishment,
escalationsandexceptions,reviewof cost/resource performance
Enablers - thissectioncoversa re-statementorreviewof the
overall strategicgoalsandimperativesstatedas
objectives/challenges(havethere beenanychangesinunderlying
drivers) andtheirstatus.Thissectionhighlightsnewideas,input
fromthe marketintermsof
satisfaction/threats/opportunities/trendsandthe trendinrisk
appetite,customerfeedback,andHealth/Safetymetrics.
Prediction- a lookforwardand predictionof outcomesand
confidence trendinthe achievementof those outcomes –the PDG
meetingwouldfocusheavilyonoutcomes(butwouldtake input
fromthe PPGon forecastoutputs). Thissectionof the dashboard
and meetingincludesreviewof forecaststrategicoutcomes,overall
costs,resource issues,reviewof risksandconfirmpriorities/balance
of finance/resourcescommitment.
Decisionswouldthenbe taken tocommence,slow/speedup/change/stopexistingPortfolioitems,andreviewresources/fundingposition.
A keyaspectto the PDG reviewisBenefits/Outcomerealisation. Whileitmaybe withinthe role of a Programme Boardto manage benefitrealisationata
programme level,the PDGtakesaccountabilityforoverall businesschange andbenefitrealisationachievementintheir Portfolio/sub-Portfolio.However,
some Portfoliosgoacrossthe business,whichmeanthatManagementTeamLeaderswhoare notPPG leaderswilldeliver(atleastpartof) some change
projectsandtheirrelatedbenefits.Benefitsare alsotherefore includedwithinourManagementTeamReviewexample,especiallybearinginminda
Managementteammayalso become accountable forongoingbenefitsonce aprogramme anda its related Portfoliohasdisbanded.

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MI Implication
To populate the dashboardand carry out the Agenda,we have impliedthe followingManagementInformation (MI) needs:
Progressand Status

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Enablers

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Prediction– Mid/Long Term

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Resources
Thissectioncontainslinkstodetailedpresentation/backupmaterial tothe narrative above – available uponrequest:
 Developmentof MeetingAgendas
 Full detailsof the mappingof PortfolioAgendaImplications,MIExamplesGathered

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Portfolio Progress Group
Assumptions
The followingmaterial isderivedfromManagementof Portfolios®,andoffersasetof assumptionsunderlyingthe businessof the PortfolioProgressGroup
(PPG) forthismodel andprovidesguidance:
 Accountable tothe PDG
 Oversee,understandandcategorise Portfolioitemsthroughprioritisation,balanceandplanning,tothe pointof handovertotheir
programme/projectboards
 MonitorPortfolioprogress/resolveissuesforthe PortfolioStrategyanddeliveryplan(outputs,benefitsandstrategyoutcomes)
 Deliverycycle process(change authority) andoperationchecking - ensure initiativescomplywithdeliverystandards
 Approve communicationson Portfolioprogressandsuccesses
The PPG has the followingassumedresponsibilities:
 Orchestrate the identificationanddefinitionof programmes,startupand initiationof projectstothe pointof handovertotheir
programme/projectboards
 Ensure that PDG strategic/prioritiesare reflectedin the Portfoliodeliveryplan
 MonitorPortfoliooutputdeliveryprogress/status/resolve deliveryissues:
• Programme/projectprogress,exceptionsandescalations
• Deliverablesachievement
• DependenciesandInter-Dependenciesalignmentandinterlocksagreedandon-track
• Spendandaction onoverspend/underspend(reallocate) andtimescales
• Review Portfolioissues,escalate asappropriate toPDG
• Overviewof risks/dependencies
• Resourcesandallocationoversight
• Reforecastof benefitsandalignmenttostrategicobjectives
• Approve minorchangesto Portfolioandconstituentprogrammesandprojects
• Recommendmajorchangesto PortfoliotoPDG includingtermination andnew projects
• Make Terminationrecommendationsof programmestoPDG
 Ensuresthat deliveryplansare agreedwithBAUto cause minimumdisruption
 Approve communicationson Portfoliostatusandprogress

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 Periodicdeliveryeffectivenessreviewof bothprocessandindividual sponsorandprojectmanagerperformance –actionwhere appropriate
Agenda & Dashboard - PPG
The processof arrivingat actionsanddecisionsforthe Portfolio Progressis referredto
here as an “Agenda”,aswe believe thatmuchof the decisionsneedstobe concluded
at a meeting(oraseries) where decisionsare captured,andactionsallocated.

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The keyinformationthatthe PPGneedsto interrogate toprovide effectiveoversightissummarisedinthe AgendaDashboardbelow:
Progressand Status. Thissectionlooksbackwardsand focuseson
historical trendandlastperioddelivery performance/issues.Overall
accomplishment,escalationsandexceptions,reviewof
cost/resource performance,reviewof additional/frontdoor
proposalsforpotential inclusioninthe Portfolio,reviewof
assurance escalations.
Enablers – thissectioncoversreviewof Objectives(have therebeen
any changesinunderlyingdrivers),keypeople performancereview
(e.g.Sponsors,Programme Managereffectiveness),Efficiencyand
Effectivenesstrendreview,lessonslearnedrealisation,culture and
ethicsimplicationsreview,satisfactionreviews(staff,customers)
and reviewof currentPortfoliobalance.
Prediction– lookingforwardsandreview riskandconfidence –in
delivery/outputs/outcomes,cost/resourcesestimatestoconfirm
priorities/balance of finance/resourcescommitmentandenable
Portfolioitemstocommence,take escalations,wrapup
decisions/actionsandcommunications.

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MI Implication
To populate the Dashboardand carry outthe Agenda,we have impliedthe followingManagementInformationneeds:
Progressand Status

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Enablers

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Prediction– Mid/Long Term

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Resources
Thissectioncontainslinkstodetailedpresentation/backupmaterial tothe narrative above – whichcan be provideduponrequest:
 Developmentof MeetingAgendas
 Full detailsof the mappingof PortfolioAgendaImplications,MIExamplesGathered