Project Portfolio Management
LO 3.4 Identify the elements in the project portfolio selection process and discuss how they work in a logical sequence to maximize a portfolio.
Project portfolio management is the systematic process of selecting, supporting, and managing a firm’s collection of projects. According to the Project Management Institute, a company’s project portfolio consists of its projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.20 Projects are managed concurrently under a single umbrella and may be either related or independent of one another. The key to portfolio management is realizing that a firm’s projects share a common strategic purpose and the same scarce resources.21 For ...
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