This Guest paper was submitted for publication and is Copyright Harvey A. Levine © 2005.
It is based on material in his latest book: Project Portfolio Management, A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits, Jossey-Bass, July 2005.
Published here November 2005.

Introduction | Not Any More | The Emergence of Project Portfolio Management
Bridging the Gap Between Operations Management and Projects Management
The Traditional Organization 
Bridging the Gap Between Portfolio Planning and Portfolio Management
The Role of the Governance Council | The Project Portfolio Life Span
Project Portfolio Management as a HUB | The Last Word

Bridging the Gap Between Operations Management and Projects Management

Project Portfolio Management is a bridge between traditional operations management and project management. For organizations that will be depending on project success for success of the overall enterprise, a well-structured bridge, built on a good foundation, is the preferred way to overcome the traditional gap between operations and projects management.

In Project Portfolio Management, it is assumed that the enterprise, via the selection and execution of projects, positions itself for increased strength and profitability as well as assuring that the firm continues to thrive in a world of constant change and the threat of competition.

The basic elements of Project Portfolio Management are not new. Nor is the environment in which it is applied. However, before the emergence of Project Portfolio Management, as a defined discipline, these elements were the responsibility of two distinct groups: Operations Management and Projects Management. Each group had its specific role, as noted in the table, below.

Operations Management

Projects Management




Project Cost

Business Performance

Project Performance

Stockholder Satisfaction

Stakeholder Satisfaction

Project Selection and Mix

Scope/Change Control

Resource Availability

Resource Utilization

Cash Flow/Income

Cash Usage

The Emergence of Project Portfolio Management  The Emergence of Project Portfolio Management

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