A portfolio is a grouping of projects that is designed to achieve a defined business objective or strategic benefit. The ultimate purpose of any portfolio of projects is to help materialize the long-term strategy defined by the organization.
From time to time, Portfolio Managers need to review the health of their portfolio to check if any projects need to be stopped or re-prioritized. Indeed, businesses must adapt to customer demands and new opportunities so it is essential to take a flexible approach to project portfolios.
Portfolio Managers need also visibility into programs, projects, and demands in their portfolio and actions that should be taken. That's why by using agreed goals and metrics, the review can be divided into strategic (overall portfolio results) and tactical (health and performance of individual projects) considerations.