TY - JOUR
T1 - Key attributes of effectiveness in managing project portfolio
AU - Patanakul, Peerasit
N1 - Funding Information:
The author would like to thank the Project Management Institute (PMI) for providing a two-year research grant to conduct this study. The author would also like to thank research team members (Dr. Audrey Curtis and Brian Koppel) for their contribution to this research. In addition, the author would like to thank the research participants and their organizations for giving the research team an access to their knowledge and practice.
Publisher Copyright:
© 2015 Elsevier Ltd and International Project Management Association.
PY - 2015/7/1
Y1 - 2015/7/1
N2 - While project portfolio management (PPM) has been practiced, the understanding of PPM effectiveness is still limited. The lack of such an understanding has practitioners continuing with a PPM approach that has not been measured as to its effectiveness and impact on business results. To promote a better understanding of PPM effectiveness, this study investigates PPM practices in real-life business settings to identify key attributes of PPM effectiveness. As a result, six attributes of PPM effectiveness were identified. The strategic attributes are 1) strategic alignment, 2) adaptability to internal and external changes, and 3) the expected value of the portfolio. The operational attributes are 1) project visibility, 2) transparency in portfolio decision making, and 3) predictability of project delivery. Based on these attributes, a definition of PPM effectiveness was purposed. This paper concludes with contributions and implications, including limitations and agenda for future research.
AB - While project portfolio management (PPM) has been practiced, the understanding of PPM effectiveness is still limited. The lack of such an understanding has practitioners continuing with a PPM approach that has not been measured as to its effectiveness and impact on business results. To promote a better understanding of PPM effectiveness, this study investigates PPM practices in real-life business settings to identify key attributes of PPM effectiveness. As a result, six attributes of PPM effectiveness were identified. The strategic attributes are 1) strategic alignment, 2) adaptability to internal and external changes, and 3) the expected value of the portfolio. The operational attributes are 1) project visibility, 2) transparency in portfolio decision making, and 3) predictability of project delivery. Based on these attributes, a definition of PPM effectiveness was purposed. This paper concludes with contributions and implications, including limitations and agenda for future research.
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U2 - 10.1016/j.ijproman.2015.01.004
DO - 10.1016/j.ijproman.2015.01.004
M3 - Article
AN - SCOPUS:84929304059
VL - 33
SP - 1084
EP - 1097
JO - International Journal of Project Management
JF - International Journal of Project Management
SN - 0263-7863
IS - 5
ER -