Portfolios are a hierarchy object type. They are typically used to hold a collection of other portfolios or projects.
When would I use a Portfolio?
You would typically use a portfolio when you need to hold a collection of work that is larger than a typical project. For example, if you want to group all the initiatives for a given department you would use a portfolio.
What can I do with a Portfolio?
When you create a portfolio, it will allow you to aggregate information for all items within it. For example, if you create a portfolio with a number of projects which in turn have stories, features and tasks. The portfolio will allow you to run reports that show aggregate measures for all the work items under it.
To build up a portfolio you can add child work items. These will be either:
Child Portfolios or
You can also directly add Functional Objects to the portfolio. The functional objects you can add are as follows:
You can manage data against the portfolios using the following interfaces:
Element Board (if the portfolio has child projects)
You can get the following reporting on Portfolios
Risks and Issues