Strategic Project Portfolio Management

Strategic portfolio management differs greatly from “operational” portfolio management, basically concentrating on selecting the best projects to develop and prioritizing allocation of resources on producing the highest possible economic value throughout the development process. Decision making is complicated by risks and uncertainty around technical, timing, cost and commercialization. Stemming from decision analysis, coupled with the need to cope with the real world, processes and tools have steadily developed to support quality decision making around strategic portfolio management.