Unprecedented rates of environmental change complicate priority setting for conservation, restoration, and ecosystem management. Setting priorities, or considering the value of ecosystems and the cost and likely effectiveness of management actions required, is like deciding which paintings to save first if an art gallery catches fire: A few masterpieces, such as the Mona Lisa, or a wider selection of the gallery's collection? A portfolio approach is required that allows for a suite of goals ranging from the maintenance of existing high-value conservation assets (the Mona Lisas) to alternative management approaches in the altered parts of the landscape (the broader art collection). Management goals can be set on the basis of the relative values, services provided, and array of approaches available. Such an approach maintains aspirations to conserve relatively unaltered ecosystems as a priority but also recognizes the need to manage the overall landscape effectively.