Project Portfolio Management

CHAPTER 1

Introduction

Introduction

Project portfolio management is concerned with managing groups of projects, programs, and operational activities (hereafter referred to as portfolio components) that compete for scarce resources and that are conducted to achieve strategic business objectives. Earlier literature related to project portfolio management focused attention on the selection and prioritization of projects and programs; however, merely choosing the right portfolio components is not enough as decisions made during the management of the portfolio could negate the very effort in setting up the portfolio. Instead, the focus needs to shift toward finding ways to ensure that the right decisions are made with regard to terminating, accelerating, ...