MoP

Management of Portfolios

A best practice framework developed by the UK government’s Cabinet Office. It provides guidance on the effective strategic management of an organization’s portfolio of programs, projects, and other related work to achieve strategic objectives. Key concepts in MoP:

1. Portfolio: A collection of programs, projects, and other related work that are managed together to achieve strategic objectives.
2. Portfolio Management: The coordinated management of the portfolio to achieve organizational goals, optimize resource allocation, and balance risk and return across the portfolio.
3. Portfolio Strategy: The overarching approach for managing the portfolio, including the portfolio’s goals, objectives, and priorities.
4. Portfolio Delivery: The process of delivering the portfolio’s programs, projects, and other related work to achieve the desired outcomes and benefits.
5. Portfolio Definition Cycle: A continuous cycle that ensures the portfolio remains aligned with the organization’s strategic objectives. It includes steps such as understanding, prioritizing, balancing, and planning.
6. Portfolio Delivery Cycle: A continuous cycle that ensures the successful delivery of the portfolio’s initiatives. It includes steps such as management control, benefits management, financial management, risk management, stakeholder engagement, organizational governance, and resource management.
7. Portfolio Office: A function or structure that provides support, guidance, and oversight for the management of the portfolio.

MoP is designed to be compatible with other best practice frameworks, such as PRINCE2 for project management, MSP for program management, and P3O for portfolio, program, and project offices. Benefits of implementing MoP:

• Aligns the portfolio with organizational strategy and objectives
• Optimizes the allocation of resources across the portfolio
• Maximizes the value and benefits realized from the portfolio
• Improves decision-making and prioritization of initiatives
• Facilitates effective risk management and balances risk and return
• Enhances transparency and accountability in portfolio management
• Supports the achievement of organizational goals and objectives

MoP certifications are available at Foundation and Practitioner levels for individuals who want to demonstrate their knowledge and understanding of the framework.

While the UK government developed MoP, it has been adopted by organizations in various sectors worldwide as a best practice approach to managing portfolios effectively and achieving strategic objectives.

• Abbreviation: MoP