Answer: Process
Explanation:
The portfolio selection process is defined as the portfolio management of the different types of assets and implementing various types of integrated steps for achieving the specific goals in an organization.
The main objective of the portfolio selection process is that it helps in reducing the risk by selecting the securities.
In the portfolio selection, the process phases plays an important role in the project analysis process, adjusting the portfolio and the pre-screening process.
Therefore, Process phase is the correct answer.
