The first
issue often is to understand the size and shape of the total portfolio.
This may be quite easy in a single company but it can be extremely difficult
in a globally diverse business. However, to ensure that the right resources
are directed to the right investments it is always advisable to obtain
a proper, holistic view of the portfolio (figure 1). For completeness,
the inventory of projects should include not only the currently approved
projects but also, where possible, those that are intended by the business
that are not yet through the approval process. This will provide a more
comprehensive view of the likely need for resources and for management’s
ability to provide proper monitoring and governance.
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