Name: Portfolios/Strategies

Reference: Runge MC, JF Cochrane, SJ Converse, JA Szymanski, DR Smith, JE Lyons, MJ Eaton, A Matz, P Barrett, JD Nichols, and MJ Parkin. 2009. Course notes for an overview of structured decision making, pilot edition. U.S. Fish and Wildlife Service, National Conservation Training Center, Shepherdstown, West Virginia, USA. 

Conservation planning step(s) when this would be used: This is used during the Plan Actions step to establish a set of possible actions.

Description of tool use: A tool for considering sets of actions together. This tool is designed to facilitate development of a good array of potential management actions. Portfolios are composed of like sets of actions, for example: various sets of land parcels represent different portfolios.  Strategies are composed of different kinds of actions, frequently linked thematically; for example, ex situ conservation and translocations combined with ongoing habitat management may be grouped into a “management intensive” strategy for conservation of a threatened species.  

Experience and expertise required to use the tool: The tool requires specialist expertise and prior experience for effective application.

Data requirements: The tool is suitable for data poor situations.

Cost: The tool itself is free though the requisite expertise may need to be resourced.  

Strengths and weaknesses, when to use and interpret with caution: Applying portfolio- or strategy-type alternatives is frequently likely to result in a larger number of alternatives to consider than when individual actions are considered alone. Furthermore, when predicting the impact of these alternatives on management objectives, it is not necessarily adequate to simply sum across the impacts of the individual management actions. Therefore, more extensive analysis may be required when using portfolios or strategies.

Case study: Szymanski, J.A., Runge, M.C., Parkin, M.J. and M. Armstrong (2009) White-nose Syndrome Management: Report on Structured Decision-making Initiative (2009). US Fish and Wildlife Service and State Natural Resource Agency Report.

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Contributor(s): Sarah Converse            
Affiliation: USGS Patuxent Wildlife Research Center
Email: sconverse@usgs.gov                        
Date: 7 February 2012