New portfolio standard supports complex work processes
Portfolios often sit alongside projects and programmes. The work involved, which serves diverse organizational and strategic goals, is difficult to assess.
Who does all the work in one or more portfolios? Which organization is responsible for it? An International Standard could help to comply with "best practice", says Miles Shepherd, chairman of ISO/TC 258, which is responsible for drafting the standard. If an organization is struggling to manage and coordinate the volume of work, or is just looking for a good overview of all the activities of sub-organizations and their purposes, ISO 21504 could be just the thing. Along with ISO 21500 for project management and ISO 21503 (not yet published) for program management, ISO 21504 is part of a new family of standards for project, program and portfolio managers. (Source: ISO News)
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