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Portfolio planning (or portfolio management) is an activity for determining which products to work on, in what order, and for how long. Although portfolio planning is conceptually at a higher level than product planning (because it deals with a collection of products), one of its primary inputs is a newly envisioned product idea from product planning.
In 2006, the Scrum Alliance was a relatively new organization, and its portfolio contained only the ongoing development of its existing website. Once the initial envisioning of the new Scrum Alliance website was completed, the board of directors (the stakeholders of the Scrum Alliance portfolio backlog) approved the development of the first release of the new website.