Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with BSB Business Services Training Package Version 7.0. |
Application
This unit describes the skills and knowledge required to lead the portfolio. It covers provision of effective leadership and management within the portfolio, and ensuring a vision is developed and communicated.
A portfolio is the centralised management of one or more portfolios of projects, which includes identifying, prioritising, authorising, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives.
The unit applies to individuals who operate at the strategic level within the organisation. Unlike projects or programs, a portfolio does not have a finite life, instead it is a continuous process and requires regular tending to ensure the portfolio remains in balance and is consistent with the strategic objectives of the organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Business Competence – Project Management
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Lead the portfolio team |
1.1 Champion portfolio management within the organisation 1.2 Justify portfolio management resourcing at prescribed intervals according to task requirements 1.3 Quantify and communicate the associated value provided to the business 1.4 Brief and support project and program sponsors throughout the project/program lifecycles according to task requirements 1.5 Assess performance of portfolio management staff and provide feedback according to task requirements 1.6 Communicate and negotiate with internal and external stakeholders according to task requirements |
2. Make strategic decisions |
2.1 Establish a portfolio vision 2.2 Communicate the portfolio vision to stakeholders according to organisational requirements |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
SKILL |
DESCRIPTION |
Reading |
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Writing |
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Oral Communication |
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Numeracy |
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Self-management |
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Teamwork |
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Planning and organising |
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Unit Mapping Information
Supersedes and is equivalent to BSBPMG805 Lead the portfolio.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10