Project Portfolio Management is a process that should support your organization to react to change in a speed that is necessary for your organization to thrive. It helps you doing the right projects and doing projects right.
Project Portfolio Management does not involve making project-by-project choices based on fixed acceptance criteria. Instead, decisions to add or subtract projects from the portfolio are based on the four goals of Project Portfolio Management:
1) Maximize the value of the portfolio
2) Seek the right balance of projects, thus achieving a balanced portfolio
3) Create a strong link to strategy, thus the need to build strategy into the portfolio
4) Doing the right number of projects
This book offers you two tools to help you with these challenges:
> The Project Valuation Model ™
> A Simple Project Portfolio Management Framework
The Project Valuation Model ™ is a conceptual model that will help you to determine the value of your project. Project valuation is essential for any project portfolio management process. It is described in the first part of this book.
This section also contains some additional important concepts about project valuation like Cost of Delay and Opportunity Cost.
The Simple Project Portfolio Management Framework described in this book is designed for managing large and complex project portfolios. The second part of this book contains the definition of the framework which consists of its roles, events, artifacts, and the rules that bind them together.
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