Your company got recently acquired by another company and the strategic directions which your portfolio is based on have been changed. Which document do you, as a portfolio manager, update to…

The Portfolio Strategic Plan defines the organizational strategic goals and objectives - it describes what the strategy is, not how it will be implemented through portfolio management processes.

The Portfolio Management Plan defines how the portfolio will be managed in alignment with organizational strategy, including governance approach, decision-making processes, and execution methods. When a new parent company changes the strategic direction, the Portfolio Management Plan is updated to reflect how those new strategic imperatives will be operationalized - it serves as the bridge between strategy and execution. This distinguishes it from the Strategic Plan (which defines direction) and the Roadmap (which shows timing).

The Portfolio Roadmap is a high-level timeline showing when components are expected to deliver strategic value, but it does not define the management approach for operationalizing a new strategy.

The Communication Management Plan governs how portfolio information is distributed to stakeholders; it does not address how strategic direction will be operationally implemented.