Portfolio Management (glossary)
The centralized organization and administration of one or more collections of projects, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives. (PMI 2008)
PMI. 2008. A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 4th ed. Newtown Square, PA, USA: Project Management Institute (PMI).