Portfolio management involves changes to the future plans and current deployments.When to add new capabilities? When and where to change operations or change resources?. When to retire legacy resources, or re-purpose them?
Overall “score” for alternative portfolio configuration is extent to which Outcomes are achieved for the enterprise as a whole. Possibilities for change come from identified Opportunities and their associated Risks. Also these come from identified new/modified Capabilities and their associated Effects.
Portfolio is normally divided into Portfolio Segments
-Could be divided by timeframe (eg, “epochs” such as near, mid, far term)
-Could be divided by “color of money” (eg, R&D, acquisition, operations)
-Could be divided by mission area
Currently using Whole Life Configuration as the Portfolio elements in EA model. WLC is a “set of Versioned Elements”. But would be more convenient to have a different model element for “Portfolio”.
-Alternative Portfolios would be examined for most cost-effective combinations
-Each Portfolio option is a provisional “set of Versioned Elements”
-Then the selected combination gets promoted to a new Whole Life Configuration (becoming the new “baseline” for program planning and scheduling)
Portfolio (kind of) Project does not have the necessary semantics with the features and relationships enumerated below.
WLC element only gives part of the picture of what is in the Portfolio.
-Acts as a “collection” of things with an associated Gantt chart for deployment timelines
-Does not tell us who “owns” that collection of things in the Management Accountability sense
-A Portfolio can consist of multiple Whole Life Configurations
Portfolio needs to have the following features:
-Things it is delivering (eg, in its Whole Life Configurations)
-Who runs it (ie, the Actual Organization)
-Particular programs within it (eg, actual Projects or project elements)
-Alignment with budget elements, assigned Opportunities and Risks, etc
-Assigned responsibility for execution of particular Enduring Tasks (and associated Capabilities)
-Accountability towards achieving Effects (eg, MOE target levels) for a given time period
-Can be assigned responsibility for certain Missions, Enterprise Goals and Enterprise Phases
-Can be jointly managed with another Enterprise for shared Operations and Resources
Might be that Portfolio could be a kind of Whole Life Enterprise (ie subtype) that has the features and relationships noted above