Abstract
Organisations are constantly under pressure to innovate and grow by successfully executing their business strategies. The ever-increasing rate of change in technology has implications for product lifecycles, cost pressures, expectations of higher quality, and a larger variety of products and services. These trends result in mounting pressures and a huge increase in complexity, as the drivers of technology must be managed to achieve a competitive advantage. Project portfolio management (PPM) is a solution for unravelling the complexities of multi-projects. In theory, PPM assists an organisation to achieve this competitive advantage through implementing its business strategy, balancing its portfolios, maximising value, and ensuring resource adequacy. There is, however, a lack of empirical evidence on the use and success of PPM approaches in South Africa. This article presents a framework that lays the foundation of an empirical study that will aim to explore the link between PPM implementation and company success in achieving strategic objectives. We base our framework on the factors of good practice in PPM, which include 1) single-project-level characteristics and activities; 2) multi-project- level characteristics and activities; 3) the link between projects and strategy process; and 4) availability and quality of project information.
Highlights
AND PROBLEM STATEMENTFirms continually face difficulties with implementing strategies, rather than with formulating them [1]; [2]
It has been suggested that the solution could lie in making use of project portfolio management (PPM) e.g. [5]; [6]; [7]
This article aims to lay the groundwork for a study that will address the lack of empirical evidence on PPM in the South African context by deductively constructing a framework from the literature
Summary
The ever-increasing rate of change in technology has implications for product lifecycles, cost pressures, expectations of higher quality, and a larger variety of products and services. These trends result in mounting pressures and a huge increase in complexity, as the drivers of technology must be managed to achieve a competitive advantage. Portefeulje projekbestuur isn oplossing om die kompleksiteit van multi-projekte te ontrafel en omn maatskappy te help om die besigheidstrategie te implementeer, die portefeulje te balanseer, maksimum waarde te behaal, as ook seker te maak daar is genoeg hulpbronne. Hierdie artikel ontwikkeln raamwerk wat as fondasie dien virn empiriese studie deur die verhouding, tussen portefeulje projekbestuurimplementering en maatskappy sukses faktore te ondersoek. Die basis van die raamwerk sal die volgende faktore van goeie praktyk bevat: 1) enkelprojek-vlak eienskappe en -aktiwiteite; 2) multi-projek-vlak eienskappe en -aktiwiteite; 3) verband tussen projekte en die strategieproses; 4) beskikbaarheid en kwaliteit van projek -informasie
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