If you have some idea of start and end dates—even wished-for start and end dates—you can start evaluating the projects. You’ll want both qualitative and quantitative evaluation.
Ask these questions for qualitative evaluation:
How does this project fit in with all the others?
What is the strategic reason for this project?
Is there a tactical gain from completing this project?
To make this project successful, are we ready to adequately fund it?
To make this project successful, are we ready to adequately staff it?
Do we know what success looks like for this project?
If you can’t determine an answer for all these questions, it’s time to ask whether the project should be in the portfolio. ...