What is program portfolio management?

Program portfolio management is the centralized process of managing and overseeing a collection of programs and projects within an organization. Its main goal is to align projects and programs with the organization's strategic objectives, optimize resource allocation, and maximize overall value. This discipline involves prioritizing initiatives, monitoring performance, and making informed decisions about which projects to start, continue, or stop. Effective portfolio management helps organizations adapt to changing business needs and ensures investment in the most impactful work.