Objective
The master class helps participants identify and tackle shortcomings in existing capital expenditure/public investment portfolios. These include poor or outdated project rationales/viability, cost and time overruns, and exposure of climate change risks. Portfolio rationalization is often required in the context of fiscal consolidation, low public investment efficiency, and strategic program prioritization. Rationalization applies the same Project Readiness and cost-benefit tests to projects already in the portfolio.
At a Glance
Format
3–4 Hours
Audience
Task Teams, Senior Officials, development partners
Level
Foundational — overview
Tools
pim-pam.net Portfolio Doctor, Project Readiness Gate, eCBA, AI tooling for Data Wrangling
Agenda
08:45 – 09:00
Welcome & Framing
Course objectives and link to the four technical Master Classes that follow.
Chair
09:00 – 09:20
1. Key Concepts & Outcomes
Define criteria by which public investment portfolio could be rationalized and more proactively managed for better public investment outcomes
WBG Lead
09:20 – 09:35
2. Development Challenge
How poor investment management impairs growth, structural change, fiscal space, and jobs creation. Existing public investment portfolios are often overcommitted with projects that are running over time and cost, without adequate clarity of expected development outcomes
WBG Economist
09:35 – 09:50
3. The Who of PIM Portfolio Rationalization
Central finance, planning & economy support/challenge function; roles of national MDAs, Sub-National Governments, and State-Owned Enterprises.
WBG + Partner
09:50 – 10:00
4. Criteria for Program-Projects-Procurements Contract Rationalization
Measures of time and cost overruns, procurement/contract commitments, ex post assessments of project rationales and viability under imperfect information, re-testing committed projects against Project Readiness criteria and eCBA results.
WBG Lead
10:00 – 10:25
The Project Cycle: Strong Preparation to Better Outcomes
What are the methodologies/tools used during project rationalization according to the proportionality concept (inc. size, economic analysis, climate risk analysis, etc,)
10:25 – 10:40
Coffee Break
Networking and informal Q&A.
10:40 – 11:05
5. Digitalization for PIM-PAM
How digitalization supports better outcomes and what information is required for portfolio rationalization and further sustained proactive management. How to conduct required data wrangling for different data readiness/Financial-Public Information Management (PIMIS) contexts
Knowledge Partner
11:05 – 11:45
6. pim-pam.net Resources
Data analytics & visualization platforms; Model Portfolio Doctor, the Project Readiness Gate and eCBA, AI tools for data wrangling
WBG + Partner
11:45 – 12:15
7. PIM Rationalization Operations
Using the Portfolio Rationalization Approach in DPO, IPF, and PforR operations. Measuring benefits-value for money
External Expert
12:15 – 12:35
8. Further Resources
Roadmap Awareness / Application / Adoption digital decision-support engagements, leadership and ownership assessments of rationalization reforms
Chair
12:35 – 12:45
Synthesis & Q&A
Key takeaways and next steps for participants.
Chair
Participants Will Leave Able To
- Frame PIM-PAM as a driver of growth, fiscal space, and jobs
- Develop and measure criteria for PIM portfolio rationalization
- Navigate pim-pam.net tools, and prioritize and sequence PIM Portfolio with the support of digital decision support deployments
Delivered By
World Bank Group staff, in collaboration with external experts and knowledge partners.
Geospatial Planning and Budget (GPB) Technical Master Classes (200 Series)
The Public Investment Management (PIM)/Public Asset Management (PAM) pim-pam.net Geospatial Planning and Budgeting (GPB) tools provide learning resources and implementation tools that can be replicated and scaled across different country contexts. The Master Classes are intended to assist Bank colleagues, country counterparts, and other development partners in advancing a journey of awareness, application to adoption of open-source methods and tools.
Selected References
- World Bank. (2026b). Infrastructure Governance Assessment Framework: A Modular Approach for Better Outcomes (InfraGov 2.0). Washington, DC: Prosperity Vertical Governance Practice, April, pp. 52 + Summary.
- Moon, Samuel, Kim, Jay-Hyung, Mroczka, Fabienne, & Fallov, Jonas Arp. (2026). Public Investment Portfolio Rationalization: Guidelines for overcommitted, Climate-exposed, and Emergency-Affected Portfolios. Washington, DC: World Bank Prosperity Insight Series, InfraGov 2.0 Application Guidance (forthcoming), May, pp. 53.