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This document gives guidance on the principles of project and programme portfolio management. This document is relevant to any type of organization including public or private and any size organization or sector. The guidance presented in this document is intended to be adapted to suit the specific environment of each project and programme portfolio. This document does not provide guidance on project management, programme management, or other specific types of portfolio management (such as financial portfolio management). This standard is the translation of International Standard ISO 21504:2015, which has been prepared by Technical Committee ISO/TC 258 "Project, programme and portfolio management". The responsible German standardization committee is NA 147-00-04 AA "Projektmanagement" ("Project management") at DIN Standards Committee Quality Management, Statistics and Certification (NQSZ).