Project and portfolio planning cycle Project-based management for the multiproject challenge

Abstract In a multiproject organization, the simultaneous management of the throughput times, resource allocations and costs of the projects is a complex process of balancing the (often conflicting) interests of multiple participants. Therefore, a new concept of portfolio management that is based on delegation and communication is required in the multiproject organization. The paper demonstrates how portfolio management can be put into practice by applying the planning and control cycle of individual projects to trade off the interests of project leaders and department heads in a team effort. By coupling the planning and control cycles for single projects and the portfolio of projects, an overall framework is built to meet the multiproject challenge. In this framework, the project-breakdown structure and organization-breakdown structure are linked. The paper concludes with the description of a practical application of the framework and the required supporting information system.