Inhibitors to optimal project portfolio selection

Wheeler, Doug & Trigunarsyah, Bambang (2010) Inhibitors to optimal project portfolio selection. In PMOZ: 7th Annual Project Management Australia Conference Incorporating the PMI Australia National Conference August 2010, Eventcorp Pty Ltd, Brisbane, pp. 166-175.

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The selection of projects and programs of work is a key function of both public and private sector organisations. Ideally, projects and programs that are selected to be undertaken are consistent with strategic objectives for the organisation; will provide value for money and return on investment; will be adequately resourced and prioritised; will not compete with general operations for resources and not restrict the ability of operations to provide income to the organisation; will match the capacity and capability of the organisation to deliver; and will produce outputs that are willingly accepted by end users and customers. Unfortunately,this is not always the case. Possible inhibitors to optimal project portfolio selection include: processes that are inconsistent with the needs of the organisation; reluctance to use an approach that may not produce predetermined preferences; loss of control and perceived decision making power; reliance on quantitative methods rather than qualitative methods for justification; ineffective project and program sponsorship; unclear project governance, processes and linkage to business strategies; ignorance, taboos and perceived effectiveness; inadequate education and training about the processes and their importance.

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ID Code: 38891
Item Type: Conference Paper
Refereed: Yes
Keywords: project selection, project portfolio, inhibitors
ISBN: 9780980768022
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Building Construction Management and Project Planning (120201)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Copyright Owner: Copyright 2010 Eventcorp Pty Ltd.
Deposited On: 29 Nov 2010 03:29
Last Modified: 29 Jun 2017 14:41

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