Final answer:
New initiatives are proposed and analyzed during the portfolio review process, forming the basis for new projects and programs in an organization. Initiatives are plans to achieve specific goals, and their selection is strategic to ensure alignment with organizational objectives and optimal resource use.
Step-by-step explanation:
New initiatives that have the potential for contributing to the overall forward progress and success of the organization are proposed and analyzed during the portfolio review process and create the starting point for new projects, portfolio components, and programs. In the context of project management and organizational development, initiatives refer to new plans or strategies that are intended to achieve a particular set of goals or improvements. These may include different types of projects or programs that involve innovation, the advancement of infrastructure, and efforts to improve labor productivity.
Initiatives are typically analyzed for their alignment with organizational goals, expected outcomes, and strategic importance. They are chosen to optimize the use of resources and to maximize the potential benefits they bring to the organization. This process is crucial in ensuring that new endeavors are in line with the organization's direction and assist in fostering growth and efficiency.