Portfolio, Portfolio, Wherefore Art Thou, Portfolio?

(I'm sticking with the Shakespearean title theme -- ere was ye motley dashboard of federal spending; this time, portfolios hearken forth my gibber.)

In addition to being a bit of a romantic, the Bard of Avon also had ghost issues. Perhaps Macbeth was first to utter, "I See Dead People." Not me. I see portfolios. They're everywhere and they speak to me (not out loud of course -- that would be weird; just voices in my head).

For example…

Do you happen to be reading this in your work area? If so, you probably only need to divert your gaze a scant few degrees before your eyes fall upon 'the unit.' Ah, behold the obligatory commercial office shelving. Maybe it is a tall, five-shelf wall rig or the more compact 42-inch variety. Perhaps yours is neutral beige, a more dramatic black or a really tony ersatz wood grain number. It is no doubt lined with books. And more books. And stuff.

Is your poor credenza so crammed with books and binders that prestigious awards, cute and colorful college memorabilia or photos of your pet are being crowded out? Are piles of literature stacked on the floor next to it? Well, whether you realize it or not, this constitutes a portfolio management opportunity; you have a specific issue or objective related to a group of demands and some capacity-based value judgments to make.

The opportunity is to present your shelfgoods in a functional and vaguely professional manner, or at least so as to avoid office embarrassment (or in my case, eliciting outright laughter or pitiful head shakes). Perhaps you just need to make more room for recent library additions, a prized gold and maroon stuffed gopher mascot, or new 5x7 portraits of each of your eight cats. Yes, the condition of your 'unit' speaks volumes to your colleagues -- out loud, I might add.

In terms of demand and capacity, the content of this particular portfolio constitutes all the various and sundry items that are fighting for limited shelf space. Each element in the portfolio is analyzed for its cost-benefit (really now, do you still regularly refer to that "Altair BASIC Programming for Dummies" guide?), and ultimately decisions are made. Some things go and some stay in order to achieve a Zen-like balance and sense of workplace tranquility.

I bet that if you take a moment to think about your organization, you will be able to identify several other situations with the potential to benefit from applying portfolios, no doubt with greater significant business consequences and in need of more analytical insight than our featured decorative reference dilemma. The issues you face when managing the products, services and assets of your organization are not that different.

In every case, you are trying to achieve some objective or result, often using a combination of existing and new portfolio elements. The management goal is to make the best possible selection decisions about these items, usually in terms of benefit, cost and risk. Once selections are executed and delivered, portfolios help to analyze whether the results fulfill expectations as well as identify when new situations brought about by change require further action.

Bottom line, portfolios are not just about projects; they are really more about the reason behind the projects. Everywhere you turn there are potential portfolios; of product families, target markets, service offerings, resources, suppliers, strategies, and investments. Portfolios can include applications, equipment and other assets (like books and knick-knacks).

All you have to do is look around and they will speak to you too.