The portfolio team

When developing new products, there is always a need for a common enterprise portfolio.

The portfolio is most of all responsible for the WHAT to do on the organizational level, as well as the money for doing the initiatives, where doing the right initiatives is strategically important, in order to be competitive and fast to market with the right products. This means that the portfolio is responsible for structuring the strategical and tactical planning, and prioritization of initiatives (projects) in the organization.

The plan forward of all initiatives are shown in the road map at the portfolio level, with rougher finishing times the more in the future the initiative is planned. The road map shall be transparent, preferably visible to everyone in the organization.

The line hierarchy is responsible for the portfolio and consists of a sponsorship function, and can be placed in a portfolio office or similar, and is mostly represented by higher level managers, taking the strategic decisions.

The portfolio office is also responsible for the overall way of working in the organization, the overall HOW, which includes the full product life cycle.  The ownership of the overall HOW is of utterly importance. This due to the fact that the deductions showed in System Collaboration points on the necessity of top-down planning, not only for products, but also for the way of working, in order to fulfil the organizational principles (science). The different parts within the organization are responsible for the details in the way of working for their own disciplines, still with the need of originating from the overall way of working, as well as fulfilling the organizational principles.

Please see this article for detailed information.