Organizational strategy describes the way of achieving its vision. Portfolio management is the means by which an organization implements a defined strategy by directing the limited resources of the organization to the portfolio components that most support the strategy realization. Portfolio stakeholders are the individuals, organizations, or groups that can be affected by a decision, activity, or outcome of a portfolio. In addition, individuals, organizations, or groups that could affect the organization’s ability to achieve its objectives (positively or negatively) should also be treated as stakeholders. A large number of individuals and groups could be considered stakeholders, being somehow directly or indirectly affected by portfolio activities. When it comes to engaging and communicating with them, the question is on whom to focus and how to condense the long list of potential stakeholders. The stakeholder list at the portfolio level is significantly different from the list at the portfolio component level. The difference is not only related to the stakeholder level but is also related to the level of interest of the involved stakeholders .
Portfolio Stakeholder Engagement: It deals primarily with delivering strategies and allocating resources
Programs Management: This deals primarily with benefits management
Projects Management: Projects deal with delivering scope in terms of quality, time, and cost
These different interests mean that different roles will be considered for the stakeholders of a portfolio versus the stakeholders of a component.
Three main stakeholder groups can be identified as affected by the portfolio execution:
- Company Executive leaders and managers of an organization
- Individuals from Internal or external organizations working for a portfolio
- Internal or external users and customers of the portfolio components
- The Standard of Portfolio Management, Pages 63 – 64