The purpose of this guide is to provide the knowledge and understanding necessary to design, implement, and operate effective and efficient governance arrangements for an organisation's portfolio of projects and programmes. It is a practitioner's guide and so takes a practical approach. The guide is principles-based thereby allowing organisations and practitioners the flexibility necessary to address their specific circumstances. The principles are grounded in logic and practice and the guide explains both how and why they are applied. It is applicable to all sectors including hard infrastructure, Information and Communications Technology (ICT), and business change. - Provides the knowledge and understanding necessary to design, implement, and operate effective and efficient project, programme, and portfolio governance arrangements. - Shows how governance can be adapted to the specific organizational and project/programme circumstances. - Applicable to all areas in both the public and private sectors. - Explains both the "how" and the "why". - Grounded in logic and practice. - Practical, pragmatic, principles-based approach. - Addresses both traditional and agile methods.