An integrated framework for project portfolio selection

The task of selecting project portfolios is an important and recurring activity in many organizations. There are many techniques available to assist in this process, but no integrated framework for carrying it out. This paper simplifies the project portfolio selection process by developing a framework which separates the work into distinct stages. Each stage accomplishes a particular objective and creates inputs to the next stage. At the same time, users are free to choose the techniques they find the most suitable for each stage, or in some cases to omit or modify a stage if this will simplify and expedite the process. The framework may be implemented in the form of a decision support system, and a prototype system is described which supports many of the related decision making activities.