Project portfolio management is the allocation of resources to select projects that align with the strategies of the firm, in particular the large-scale tier one main contractor.
At the level of project selection, project portfolio management is conducted with established routines for decision making and a governance process.
Portfolio resources for programme management that coordinates organizational capabilities and related inputs at the project level is frequently weak or absent, which constrains options for project selection and effective delivery.
Prof. Hedley Smyth comments:
"Project portfolio management in construction has been a neglected area of research within the project domain. It was great to work with colleagues at the University of Technology Sydney, who have led work in other project sectors. Project portfolio management is largely conducted on a project-by-project basis and there is scope to develop much stronger links through programme management and firms’ portfolio management to support transformation in construction. It was particularly interesting to examine this topic in privately owned contractors, who arguably have some lessons for others to follow.
It is good to see this published online – it has a longer time coming than most research because of gaining access to case companies at the outset of the first Covid lockdown proved a challenge."
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Our research
Our management of project enterprises research theme covers how organisations that manage projects manage their business and how those organisations support project delivery.
Contact the author
Prof. Hedley Smyth
Emeritus Professor of Project Enterprises
The Bartlett School of Construction and Project Management
h.smyth@ucl.ac.uk