Three Types of Portfolios

Three Types of PortfoliosThere are three main types of portfolios - long term, short term and growth portfolios. Long term portfolios focus on individual research work, while short term and growth portfolios are based on the company or business you are working for. The long term portfolio is an extension of your current job. As your responsibilities grow, it will reflect this by changing your portfolio as well.With a long-term portfolio, you may find yourself having to look at portfolio plans that span three to five years, as well as your corporate profile and financial information. Typically, these reports are as long as one page and may cover business units. You can update them over time as you continue to increase in authority within the organization. There are many benefits to using long-term programs and it allows you to specialize your research without being overwhelmed by too much information. Long term portfolios also have a much longer shelf life.Growth portfolios are meant to open up a new career or area of expertise, as well as helping to build an excellent relationship with your supervisor. They allow you to continue to build and deepen your network of contacts, which can prove extremely beneficial when networking. You may find yourself in charge of one of two areas: either a particular project or a particular department within the company. Often you will begin with a particular project or department that you are interested in. When you complete a portfolio, it is reviewed by your peers and your current supervisor. If you are in line for a promotion or gain another role within the company, the plan allows you to take advantage of your new role and enhance your portfolio.With a short-term portfolio, you may only be looking at doing some work. For example, you may be working on getting a raise or promotion and are currently focused on your current job. Your short term plan is a must for you to get work done as quickly as possible, which often includes doing as much work as possible and moving on with your current job after a certain period of time has passed.Growth portfolios are focused on new roles within your company. Usually you will look at jobs that could add significantly to your skillset. This can be done on an assignment basis or you may choose to dedicate time to each project, such as learning the ropes of a new position. Some companies set up a growth program that all new hires go through. A more traditional portfolio focuses on a single project, such as going to the clinic and being evaluated on how you handle the patients and how well you have the experience to offer. As the years go by, you may be required to be involved in many more projects, as well as jobs that you have done in the past, to show the company how capable you are of handling the project and how much your skill set has improved since you joined the company.You should always spend time working on your portfolios. Whether you have time after the fact to complete them or not, you will still need to plan them ahead of time. Make sure you put in time and effort into their content and include a comprehensive plan. Most people just create portfolios based on their skills and knowledge. If you want to be successful, you should include a strategy for how you will show your prospective employer how smart and qualified you are for the job. If you are to succeed in your career, your portfolio needs to reflect your expertise and passion for the field.In the end, long term, short term and growth portfolios are all about presenting yourself as a professional who is focused on developing your career. It can be as simple as creating a plan and putting in the effort to build the needed results.