Which activity is part of the Project Portfolio Management Process?

The activity that is part of the Project Portfolio Management Process is the initiation of the project. This phase is critical as it involves evaluating the alignment of the project with organizational goals and priorities, determining its feasibility, and obtaining the necessary authorizations to proceed. During initiation, projects are assessed as part of a larger portfolio to ensure that resource allocation aligns with strategic objectives.

In the context of Project Portfolio Management, initiating a project helps organizations decide which projects to pursue, which contributes to optimizing the overall portfolio. The focus is not only on the individual project but also on how it fits within the broader scope of existing and potential projects.

The other activities mentioned, while important in the overall project management lifecycle, do not specifically fall under the Project Portfolio Management Process. Conducting training sessions, for instance, is more related to project implementation and team development rather than selecting and prioritizing projects within a portfolio. Similarly, developing marketing strategies is outside the scope of project portfolio management, which focuses on selection and optimization rather than execution strategies. Lastly, the acquisition of resources typically happens after a project has been initiated and approved, making it part of project execution rather than the portfolio management process itself.