“Portfolio management allows organizations to apply real world constraints—such as human and financial resources and their tolerance for risk—and identify those investments that will return the highest strategic value given the current situation, be they projects, programmes or other initiatives”—Butler (2010).
As enterprises mature in the project management discipline they recognize that projects, like all investments, must be managed on a portfolio basis.
Program management is a step in the right direction, but more formalized project portfolio management goes beyond traditional program management.
The key differences between portfolio and multiple project management are shown in Table 4.1.
Projects and ...
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