Tailoring PMI and OGC Portfolio Frameworks

The strategy definition in organizations and its implementation by projects has been difficult to achieve. Project portfolio management processes provide the linkage between the organization’s strategic objectives and their programs and projects. It is worthless to have the latest technology and resources to develop projects, if there are no organized processes and focus on strategic interests. The organizations need to develop processes, tools, and techniques that support their business, to act at the required level, but keeping in mind that these processes and tools need to evolve over time. Therefore, for a better understanding of the processes and use of artefacts from ‘project portfolio management’, this paper aims to develop an information technology ‘project portfolio management’ framework based on ‘project portfolio management’ processes from PMI and artefacts from OGC (Axelos, until 2013). For a better understanding of the process, inputs and outputs artefacts, the framework is modelled using the BPMN-Business Process Modelling and is done a traceability map, of an example artefact, using UML State Machine Model.