Search results

To maintain and enhance the efficiency of a property portfolio the portfolio manager should select those property investment propositions which promise the maximum improvement of portfolio return and reduction of portfolio risk. To cope with this difficult task the portfolio manager needs appropriate decision criteria. This paper discusses some of the selection criteria evolved through the developments in capital market theory in order to assess their usefulness in property asset selection procedures. The use of the ‘reward‐to‐volatility’ criterion to select appropriate property portfolio projects is explored through a worked example. The reliability of such selection procedure depends on the availability of reliable historic record of the performance of the property market and of the property portfolio together with the portfolio manager's ability to perceive expected returns in different ‘states of the world’.

Here's how top firms are using portfolio management processes to maximize their projects‘ fit, utility, and balance.

Portfolios of temporary organisations, particularly portfolios of R&D projects with different project partners, are a common yet understudied phenomenon. We know that these portfolios suffer from tensions inherent in project portfolio ambidexterity (e.g. portfolios balancing R&D projects with new and recurrent partners), yet our understanding of what might lessen these tensions remains limited. This study introduces the idea of project portfolio maturity and theorises how it can mitigate the negative effects of ambidextrous project portfolios. We test our hypotheses by combining proprietary survey and archival data on 136 R&D project portfolios in the German biotechnology industry covering project partnerships with both new and recurrent partners. Our results show that ambidextrous project portfolios hamper firm performance and that portfolio maturity mitigates these negative effects. By introducing a new perspective on project portfolios that accounts for overlooked temporal dimensions, this study provides a new contingency that has the potential to ease the tensions that result from projects with new and recurrent partners. We thereby add to the literatures on temporary organising, project portfolios, and ambidexterity.

Organizations have always faced the possibility of disruptions. Traditional approaches, such as shifting risks through insurance or improving organizational resiliency, view disruptions as threats. This study aims to propose a new perspective where disruptions can also be opportunities. By adopting project portfolio management (PPM), organizations can develop proactive capabilities to manage uncertainty and prepare to exploit future disruptions.

Drawing on publicly available research reports, company reports, professional standards and press reports, this study describes key features of PPM and provides detailed practical guidance on how to apply PPM in daily operations, especially in preparation for the next disruption.

The key steps in applying PPM in daily operations are: align portfolios and projects with strategic goals and objectives; establish a robust governance framework; optimize resource capability and capacity; build and implement appropriate implementation methodologies; continuously monitor, review and optimize the project portfolio; and develop a culture that embraces risks, innovation and adaptability.

This research has several limitations and implications. On limitations, the study was constrained by publicly available data, an in-depth interview with a consulting firm and a survey based on convenient sampling. These limitations will impact the generalizability of the findings. On implications, this paper shows how organizations can prepare for future disruptions by applying PPM. There are other ways to prepare for the unpredictable future, and further research is needed to explore other methods.

The results of this study have important practical implications for all organizations and in all sectors. Major disruptions are matters of “when,” not “how,” and responsible organizations need to pay attention. Based on the PPM discipline, this research provides an approach for business executives and project management practitioners to tackle this challenge. Furthermore, portfolio managers should use this information to promote and advocate for more disciplined planning to confront the uncertain future.

The findings of this paper carry important social implications. As the recent events showed the vastness of disruptions, from extreme heat to fires in Maui, sitting idly and waiting passively for an unpredictable future is not an option. This paper advocates the need for more awareness and preparation for future disruption by applying PPM. Furthermore, this research provides concrete guidelines for organizations and practitioners to consider as they confront the unknown. Additional research should investigate other effective strategies to meet the challenges of an uncertain and volatile future.

This study offers practical steps on how organizations may manage not only to survive but also to thrive in an uncertain and volatile world.

The consideration of the substitution phenomenon in the project portfolio selection problem can improve the robustness of project portfolio selection and help enterprises better achieve their strategic objectives. However, the existence of inter-project risk propagation will have a negative impact on project substitution. This paper proposes a new framework for project portfolio selection and constructs a risk propagation model based on strategic objectives to study the impact of risk propagation on substitution in the project portfolio.

The authors first construct a risk propagation model based on strategic objectives to describe the risk propagation between projects. Then the project substitution phenomenon based on risk propagation is put forward, and the calculation method of substitution loss is given. Finally, a robust project portfolio selection framework based on strategic objectives considering risk propagation is constructed.

The analysis of a case study demonstrates that (1) With the increase of risk intensity, the strategic loss of the same project portfolio increases linearly, and under the same risk intensity, the more projects in the portfolio, the stronger the robustness. (2) Considering risk propagation, the effect of project substitution is significantly weakened, and the strategic loss rate of the project portfolio is significantly increased compared with that of a direct attack.

This study is the first to take the project substitution into account in the project portfolio selection process. Moreover, the authors describe inter-project risk propagation and analyze the impact of risk propagation on the project substitution phenomenon. Finally, the authors extend the evaluation index of robustness. This paper puts forward a new way to solve the problem of project portfolio selection.

This study aims to develop a new integrated decision-making framework specifically designed to address complexity and uncertainty for project portfolio management. It particularly focuses on managing portfolios in a post-merger context. The paper portrays a normative and prescriptive approach to effectively creating a well-balanced project portfolio in a post-merger scenario.

This study introduces hyper-project portfolio frame as a prospective methodology for evaluating post-merger portfolios. The proposed method especially addresses the challenges associated with integration following a merger.

Hyper-project portfolio frame provides fundamental leaps in post-merger project portfolios. The frame gives opportunities to check consistency with policy, organizational scalability, flexibility and product diversity. It also underpins achieving the strategic objectives of mergers and acquisitions (M&As).

The literature synthesis is approached from an interpretative standpoint. The research incorporates discussions and comparative studies from the relevant literature and introduces a novel approach. Additionally, new descriptive studies can expand the proposed process-oriented decision-making. Moreover, this research does not consider hostile takeovers.

Nested in content and process-oriented fashion, the frame provides suitable prequalification analysis for portfolios in a post-merger under the concepts of complexity, uncertainty, risk and value.

New business practices and the globalization of markets force firms to take innovation as the fundamental pillar of their competitive strategy. Research and Development (R&D) plays a vital role in innovation. As technology advances and product life cycles become shorter, firms rely on R&D as a strategy to invigorate innovation. R&D project portfolio selection is a complex and challenging task. Despite the management's efforts to implement the best project portfolio selection practices, many projects continue to fail or miss their target. The problem is that selecting R&D projects requires a deep understanding of strategic vision and technical capabilities. However, many decision-makers lack technological insight or strategic vision. This article aims to provide a method to capitalize on the expertise of R&D professionals to assist managers in making informed and effective decisions. It also provides a framework for aligning the portfolio of R&D projects with the organizational vision and mission.

This article proposes a new strategic approach for R&D project portfolio selection using efficiency-uncertainty maps.

The proposed strategy plane helps decision-makers align R&D project portfolios with their strategies to combine a strategic view and numerical analysis in this research. The proposed strategy plane consists of four areas: Exploitation Zone, Challenge Zone, Desperation Zone and Discretion Zone. Mapping the project into this strategic plane would help decision-makers align their project portfolio according to the corporate perspectives.

The new approach combines the efficiency and uncertainty dimensions in portfolio selection into an integrated framework that: (i) provides a complete representation of the stochastic decision-making processes, (ii) models the endogenous uncertainty inherent in the project selection process and (iii) proposes a computationally practical and visually unique solution procedure for classifying desirable and undesirable R&D projects.

The purpose of this paper is to address the difficulties faced by manufacturing enterprises by providing a project portfolio management approach supporting the selection and prioritization of various Industry 4.0 projects where business process analysis is used to ensure the strategic alignment and value of the project portfolio.

The design research methodology, a mixed applied research methodology, was used to develop and test the proposed approach.

Despite the growing interest of the scientific and industrial communities in I4.0, it seems that there is no method by which manufacturing companies can select a large number of improvement projects. Moreover, studies tend to focus on the evaluation and implementation of a single technology, while the transformation of an intelligent plant requires the consolidation and coordination of many initiatives to achieve a global objective.

The proposed project portfolio management model offers support to enterprises during their digital transformation and improves their processes by integrating technology levers through consistent and achievable selection of I4.0 initiatives while meeting strategic goals and objectives.

The purpose of this paper is to demonstrate that there is not just a single project portfolio operating within an organisation, but instead there are multiple portfolios.

This paper follows a case study methodology, utilising secondary sources in the form of publically available reports.

The authors offer a definition of whole of enterprise portfolio management and suggest that this conceptual tool will allow an organisation to control programs and portfolios, particularly, where organizations adapt to emergent situations.

This paper is supported through a single case study using secondary data only. Whilst this provides an illustrated example to support a theoretical model, further empirical research is required to determine its applicability in other sectors and organisational contexts.

This paper provides a whole of enterprise portfolio model in the utilities sector and can be applied to many organisations. It also provides a basis for further research.

This paper provides a new perspective on portfolio management, suggesting that the organisation consists of many portfolios that need to be managed in an integrative manner, rather than just the project portfolio be examined and managed in isolation.

The purpose of this paper is to analyze the impacts of Portfolio size effect due to scaling issues in the outcome obtained in a project portfolio selection for an electricity company in Brazil, focusing on improving business strategic performance.

The study uses a web-based decision support system (DSS), in which scaling issues are considered, incorporating results of previous work. The study evaluates 32 projects from the electricity company and compared the possible results when considering different scales. Additionally, a sensitivity analysis was conducted to analyze the robustness of the case, using the web-based DSS.

The results for an interval scale context showed a portfolio with 21 projects, contrasting with the correct solution of a portfolio containing 23 projects. The latter is related to a ratio scale context, with the proper transformation of weights, which was found to be robust with a sensitivity analysis using Monte Carlo simulation. This demonstrates that only appropriate models for selecting projects can improve the contribution to the company’s permanent strategies of increasing productivity, considering its constraints to achieve optimal results.

Additive value functions approach imposes certain requirements on the measurement scales used for the items in a portfolio that should not be ignored, once they have significant impact on the general portfolio results, which are directly related to the business strategic performance and the facilities of doing that with a web-based DSS.