Portfolio management involves selecting, prioritizing, and controlling an organization's projects and programs to deliver strategic goals. It balances risk and reward, similar to financial portfolio management. Portfolio managers oversee a diverse range of projects to address various scenarios, integrating strategy development, project management, and change management. They must adapt resources and sometimes terminate projects that no longer serve the organization. A central portfolio management office supports this process, requiring high organizational maturity and effective governance. Ultimately, portfolio management ensures strategic implementation through resource allocation and project prioritization.

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