Recognizing the importance of selecting and pursuing programs, projects, and operational work that add sustainable business value that benefits end users, the Project Management Institute (PMI^®) issued its first Standard on Portfolio Management in 2006. In 2014, it launched the Portfolio Management Professional (PfMP^®) credential—which several of the experts who contributed to this book earned—to recognize the advanced expertise required of practitioners in the field.

Presenting information that is current with The Standard for Portfolio Management, Third Edition (2013); Portfolio Management: A Strategic Approach supplies in-depth treatment of the five domains and identifies best practices to ensure the organization has a balanced portfolio management that is critical to success. Following PMI’s standard, the book is organized according to its five domains: strategic alignment, governance, portfolio performance management, portfolio risk management, and portfolio communications management.

Each chapter presents the insight of different thought leaders in academia and business. Contributors from around the world, including the Americas, Europe, the Middle East, Africa, and Australia, supply a global perspective as to why portfolio management is essential for all types of organizations. They provide guidelines, examples, and models to consider, along with discussion and analysis of relevant literature in the field. Most chapters reference PMI standards, complement their concepts, and expand on the concepts and issues that the standards mention in passing or not at all.

Overall, this is a must-have resource for anyone pursuing the PfMP^® credential from PMI. For executives and practitioners in the field, it provides the concepts you will need to address the ever-changing complexities that impact your work. This book is also suitable as a textbook for universities offering courses on portfolio management.