After investigating the supply and demand, you have come up with some governance recommendations. What's the next step?

Updating the portfolio management plan is a downstream action that occurs after recommendations have been communicated, reviewed, and approved - not immediately after formulating them.

Updating the portfolio itself would only occur after governance recommendations are approved and acted upon, making this a later step.

Recording recommendations solely in the PMIS does not constitute the formal stakeholder communication step required to present governance recommendations for review and decision-making.

Portfolio reports are the formal communication vehicle for governance recommendations in portfolio management, ensuring they reach the appropriate decision-makers and governing bodies in a structured, traceable format. Writing recommendations in reports is the step that enables stakeholder review and subsequent action.