As part of the governance function, the governance board members are required to be present in the portfolio review meeting in order to know the status of the portfolio and be able to take decisions on pending points. When it comes to review meetings, which of the following is valid?

Portfolio governance review meetings are a formal and structured part of the governance function. They are held on a recurring basis (e.g., monthly, quarterly) to ensure continuous oversight, monitor performance against strategic objectives, and make timely decisions. This regular cadence allows the governance board to stay informed about the portfolio's status, address risks, and approve changes in a systematic manner, rather than reacting to issues as they arise. This structured approach is fundamental to effective portfolio governance.

B. While meetings are for decision-making, the "held when needed" contradicts the planned, recurring nature of formal governance oversight, which is proactive, not reactive.
C. Governance meetings are formal and recurring, not informal or non-recurring. Informality undermines the authority and documented nature required for portfolio decisions.
D. This is too specific. While financial points are discussed, governance meetings cover all aspects of the portfolio, not just financials, and involve more than just functional managers.

1. Project Management Institute. (2017). The Standard for Portfolio Management (4th ed.). Section 3.4.2, Portfolio Review, p. 41. "Portfolio reviews are recurring meetings held to review portfolio component performance and the overall portfolio health."

2. Project Management Institute. (2017). The Standard for Portfolio Management (4th ed.). Section 3.4, Portfolio Governance, p. 39. "Portfolio governance is the framework, functions, and processes that guide portfolio management activities to optimize investments and meet organizational strategic and operational goals."