Project Portfolio Management in the context of Strategic Management Theory
Keywords:
portfolio management, strategy, strategic management, project managementAbstract
The article discusses the problems of portfolio management in the context of changes in the contemporary organisation environment. It emphasizes the role of project portfolio management in the implementation of corporate strategy and describes major goals, areas and conditions of effective implementation of the principles of organisation portfolio management. The conclusions drawn from the literature review indicate that strategic management and project management developed historically as independent areas and there are few studies integrating both perspectives. However, at present it is important to build the organisational skill to discover new potentials and to make use of the existing possibilities of the organisation. Projects help in finding new potentials. Therefore, project management is especially important to build a competitive advantage and renew strategy. The portfolio management requires a special attention as it constitutes an element combining strategy and projects. The article works out a synthesis of portfolio management significance in the context of diverse strategic theories of management.
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References
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55. Thiry M., Program Management: a Strategic Decision Management Process, The Wiley Guide to Project, Program, and Portfolio Management, Wiley, New York 2004.
56. Thiry M., Deguire M., Recent Developments in Project-Based Organisations, „International Journal of Project Management” 2007, 25(7).
57. Thomas J., Mullaly M., Understanding the Value of Project Management: First Steps on an International Investigation in Search of Value, „Project Management Journal” 2007, 38(3).
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2. Ansoff I.H., Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion, McGraw-Hill, New York 1965.
3. Archer N.P., Ghasemzadeh F., An Integrated Framework for Project Portfolio Selection, „International Journal of Project Management” 1999, 17(4).
4. Artto K., Kujala J., Dietrich P., Martinsuo M., What is Project Strategy?, „International Journal of Project Management” 2008, 26(1).
5. Benaroch M., Managing Information Technology Investment Risk: A Real Options Perspective, „Journal of Management Information Systems” 2002, 19(2).
6. Carlopio J., Creating Strategy by Design, „Design Principles and Practices: An International Journal” 2009, 3(5).
7. Chandler A.D., Strategy and Structure, MIT Press, Cambridge 1962.
8. Chesbrough H.W., Open Innovation: The New Imperative for Creating and Profiting From Technology, Harvard Business Press, Boston 2006.
9. Cooper R.G., Stage-gate Systems: A New Tool for Managing New Products, „Business Horizons” 1990, 33(3).
10. Cooper R.G., What's Next?: After Stage-Gate, „Research-Technology Management” 2014, 57(1).
11. Cooper R.G., Edgett S.J., Best Practices in the Idea-To-Launch Process and its Governance, „Research-Technology Management” 2012, 55(2).
12. Cooper R.G., Edgett S.J., Kleinschmidt E.J., Portfolio Management for New Products, Basic Books, New York 2001.
13. Cooper R.G., Kleinschmidt E.J., New Product Processes at Leading Industrial Firms, „Industrial Marketing Management” 1991, 20(2).
14. Crawford L., Developing Organizational Project Management Capability: Theory and Practice, „Project Management Journal” 2006, 37(3).
15. De Geus A.P., Planning as Learning, „Harvard Business Review” 1988, March–April.
16. De Reyck B., Grushka-Cockayne Y., Lockett M., Calderini S.R., Moura M., Sloper A., The Impact of Project Portfolio Management on Information Technology Projects, „International Journal of Project Management” 2005, 23(7).
17. Eisenhardt K.M., Tabrizi B.N., Accelerating Adaptive Processes: Product Innovation in the Global Computer Industry, „Administrative Science Quarterly” 1995.
18. Florida R., The Rise of the Creative Class-Revisited: Revised and Expanded, Basic Books (AZ), New York 2014.
19. Jamieson A., Morris P.W., Moving From Corporate Strategy to Project Strategy, „The Wiley Guide to Managing Projects” 2004.
20. Jeffery M., Leliveld I., IT. Best Practices in IT Portfolio Management, „MIT Sloan Management Review” 2004, vol. 45 no. 3.
21. Kam G.M., Tak J., Fung S., The Relationship Between Project Management Process Characteristics and Performance Outcomes, „Management Research Review” 2014, vol. 37, iss. 11.
22. Kendall G., Rollins S., Advanced Project Portfolio Management and the PMO, J. Ross Publishing, Florida 2003.
23. Kiechel W., The Lords of Strategy: The Secret Intellectual History of the New Corporate World, Harvard Business Press, Boston 2010.
24. Killen C.P., Hunt R.A., Kleinschmidt E.J., Project Portfolio Management for Product Innovation, „International Journal of Quality&Reliability Management” 2008, 25(1).
25. Lawrie G., Metcalfe D., Hollaway E., Grading Service Automation Apps for Corporate IT, Forrester, Cambridge 2003.
26. Loch C., Tailoring Product Development to Strategy: Case of a European Technology Manufacturer, „European Management Journal” 2000, 18(3).
27. Longman A., Mullins J., Project Management: Key Tool for Implementing Strategy, „Journal of Business Strategy” 2004, 25(5).
28. Management of Portfolios, TSO, Crown 2011.
29. March J.G., Exploration and Exploitation in Organizational Learning, „Organization Science” 1991, 2(1).
30. Markowitz H.M., Portfolio Selection, „The Journal of Finance” 1952, 7(1).
31. Martin R., The Opposable Mind, Harvard Business School Press, Boston 2007.
32. McFarlan F.W., Portfolio Approach to Information-Systems, „Harvard Business Review” 1981, 59(5).
33. McGrath R.G., MacMillan I.C., Assessing Technology Projects Using Real Options Reasoning, „Research-Technology Management” 2000, 43(4).
34. Mikkola J.H., Portfolio Management of R&D Projects: Implications for Innovation Management, „Technovation” 2001, 21(7).
35. Miles R.E., Snow C.C., Meyer A.D., Coleman H.J., Organizational Strategy, Structure, and Process, „Academy of Management Review” 1978, 3(3).
36. Mintzberg H., Patterns in Strategy Formation, „Management Science” 1978, 24(9), 934–948.
37. Mintzberg H., Waters J.A., Of Strategies, Deliberate and Emergent, „Strategic Management Journal” 1985, 6(3).
38. Mullaly M., Thomas J.L., Exploring the Dynamics of Value and Fit: Insights from Project Management, „Project Management Journal” 2009, 40(1).
39. O'Reilly C.A., Tushman M.L., Organizational Ambidexterity: Past, Present, and Future, „The Academy of Management Perspectives” 2013, 27(4).
40. Packendorff J., Lindgren M., Projectification and its Consequences: Narrow and Broad Conceptualisations, „South African Journal of Economic and Management Sciences” 2014, 17(1).
41. Patanakul P., Shenhar A.J., What Project Strategy Really is: The Fundamental Building Block in Strategic Project Management, „Project Management Journal” 2012, 43(1).
42. Porter M.E., Competitive Strategy: Techniques for Analyzing Industries and Competitors, Simon and Schuster, New York 2008.
43. Porter M.E., Przewaga konkurencyjna. Osiąganie i utrzymywanie lepszych wyników, Helion, Gliwice 2006.
44. Prahalad C.K., Hamel G., The Core Competence of the Corporation. In Strategische Unternehmungsplanung–Strategische Unternehmungsführung, Springer, Berlin, Heidelberg 2006.
45. Program Management 2010. A Study of Program Management in the US, Federal Government, Sponsored by Project Management Institute, June 2010.
46. Quinn J.B., Managing Strategic Change, „Sloan Management Review” 1980, 21(4).
47. Senge P.M., The Fifth Discipline Fieldbook: Strategies and Tools for Building a Learning Organization, Crown Business, New York 2014.
48. Senge P.M., Kleiner A., Roberts C., Ross R., Roth G., Smith B., Guman E.C., The Dance of Change: The Challenges to Sustaining Momentum in Learning Organizations, Willey Online, New York 1999.
49. Sharpe P., Keelin T., How SmithKline Beecham Makes Better Resource-Allocation Decisions, „Harvard Business Review” 1998, March-April.
50. Simon H.A., Models of Bounded Rationality: Empirically Grounded Economic Reason, vol. 3 MIT Press, Cambridge 1982.
51. Simons R., Levers of Control: How Managers Use Innovative Control Systems to Drive Strategic Renewal, Harvard Business Press, Boston 2013.
52. Spalek S., Does Investment in Project Management Pay off?, „Industrial Management&Data Systems” 2014, vol. 114, iss. 5.
53. Sull D.N., Strategy as Active Waiting, „Harvard Business Review” 2005, 83(9).
54. The Standard for Portfolio Management, 3rd edition, Project Management Institute, Newton Square, Pennsylvania 2013.
55. Thiry M., Program Management: a Strategic Decision Management Process, The Wiley Guide to Project, Program, and Portfolio Management, Wiley, New York 2004.
56. Thiry M., Deguire M., Recent Developments in Project-Based Organisations, „International Journal of Project Management” 2007, 25(7).
57. Thomas J., Mullaly M., Understanding the Value of Project Management: First Steps on an International Investigation in Search of Value, „Project Management Journal” 2007, 38(3).
58. Weill P., Ross J., IT Governance: How Top Performers Manage IT Decision Rights for Superior Results, Harvard Business School Publishing, Boston 2004.
59. Wernerfelt B., A Resource-Based View of the Firm, „Strategic Management Journal” 1984, 5(2)
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Published
2023-05-04
How to Cite
Sońta-Drączkowska, E. (2023). Project Portfolio Management in the context of Strategic Management Theory. Studies and Work of the Collegium of Management and Finance , (159), 127–145. Retrieved from https://econjournals.sgh.waw.pl/SiP/article/view/3422
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