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Portfolio management refers to the systematic practice of coordinating and aligning multiple projects, programs, and other work initiatives with an organization's business strategy. It involves selecting, prioritizing, and managing a collection of projects in order to optimize resources, maximize returns, and achieve strategic objectives. Portfolio management requires effective communication, collaboration, and integration across various functions and levels within the organization, as well as a deep understanding of the interdependencies between different projects and their impact on overall business performance. At its core, portfolio management is about making informed decisions about where to invest resources in order to create value for the organization and its stakeholders.