Many executives are unaware that virtually every organization whose goal is achieved through business initiatives needs to understand and adopt project portfolio management. Otherwise, they will be content with seeing large projects being executed in the dark and at high costs for the organization.
It is project portfolio management that provides all the clarity managers need to solve problems and more. As written in a publication by PMI (Delivering on Strategy – The Power of Project Portfolio Management), project portfolio management is a “method of connecting the execution of an organization’s projects to the fulfillment of its strategies. Creating that connection is a critical factor in the overall success of an organization.”