ISO 21500:2021(E) Project, programme and portfolio management - Contextand concepts

ISO 21500:2021(E) Project, programme and portfolio management - Contextand concepts 1 Scope This document specifies the organizational context and underlying concepts for undertaking project,programme and portfolio management. lt also provides guidance for organizations to adopt or improveproject, programme and portfolio management using the standards prepared by ISo/TC 258. This document is applicable to most organizations, including public and private organizations and it isnot dependent on the size and type of the organization. lt is also applicable to any project, programmeand portfolio, regardless of complexity, size or duration. Further guidance on project, programme and portfolio management, and the governance thereof, isgiven in iso 21502,ISO 21503,IS0 21504 and lsO 21505. 2Normative references There are no normative references in this document. 3Terms and definitions For the purposes of this document, the following terms and definitions apply. ISO and IEC maintain terminological databases for use in standardization at the following addresses:-ISO online browsing platform: available at https:.//www.iso.org/obp; —IEC Electropedia: available at http://www.electropedia.orgL. 3.1 benefit created advantage, walue or other positive effect[SOURCE:ISO/TR 21506:2018,3.6] 3.2 business case documented justification to support decision making about the commitment to a project (3.15),programme (3.12) or porrfolio [3.9) [SOURCE:ISO/TR 21506:2018,3.8]