The Portfolio Board has the following responsibilities:
· Maintain oversight and approval authority of new business cases within the
agreed Policy and Budget Framework, ensuring allocation of resources, funds
and strategic vision are achieved.
· Active management of/creation of the correct programmes to deliver strategic
and delivery plan objectives
· Assure that the portfolio is consistently in line with corporate priorities and
strategic objectives and ensure communication
· Ensure benefits are realised in line with the business case, by holding
programme/project sponsors to account
· Ensure decisions are made to support the prioritisation of the pipeline by
considering resources, funding and member agendas.
· Monitor spending against the profiled budget – Return on investment, ensuring
that appropriate action is taken to mitigate overspends, and that when
underspends occur, timely action is taken to explore options and recommend
actions.
· Contribute, or seek to contribute enough towards closing the MTFP
· Monitor resource allocation in relation to scheduled pipeline plans to ensure
that appropriate action is taken to manage risks and challenges, as well as
actions to consider reallocating resources to other projects if necessary.
· Examine, monitor and mitigate and escalate portfolio risk, issues and
dependencies.
· Approve portfolio progress communications