Final answer:
Portfolio management also confirms that the **portfolio** is consistent with and aligned with organizational strategies.
Step-by-step explanation:
Portfolio management involves the selection, prioritization, and management of a collection of projects, programs, or investments that collectively make up a portfolio. The purpose of portfolio management is to ensure that the portfolio of projects or investments aligns with the strategic objectives and goals of the organization.
By confirming that the portfolio is consistent with and aligned with organizational strategies, portfolio management ensures that the projects or investments within the portfolio contribute to the overall strategic direction of the organization. This alignment helps the organization achieve its objectives, optimize resource allocation, and maximize the value delivered by the portfolio.
Portfolio management achieves this alignment by assessing the individual projects or investments within the portfolio and evaluating their strategic fit. It considers factors such as the goals, priorities, risks, and resource requirements of each project or investment, as well as their contribution to the overall strategic objectives.
Through effective portfolio management, organizations can make informed decisions about which projects or investments to include in the portfolio, how to prioritize and allocate resources, and how to monitor and control the portfolio's performance. This ensures that the portfolio remains aligned with the organization's strategies and enables the organization to adapt and respond to changes in the business environment.