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Project Management by Lewis R. Ireland, David L. Cleland

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CHAPTER 10PROJECT PORTFOLIO MANAGEMENT

Discovery consists of seeing what everybody has seen and thinking what nobody has thought.

ALBERT SZENT-GYOERGI

10.1 INTRODUCTION

Portfolio management has been in existence for many years and especially in the financial field where efforts are made to balance investments. The emerging literature on project portfolio management has given emphasis and interest in how organizations select and structure the management for dealing with projects. This new approach to dealing with projects in an organization is a strategic decision that has the promise of improved productivity and a better balance of the foundation for generating revenue.

In the past, many projects were selected based on subjective criteria and ...

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