Projects versus Portfolios: What are the Implications?
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Traditionally the focus of the technology innovation management literature is to evaluate and select projects. There are, however, substantial differences between project and portfolio selection. A portfolio of projects is optimal if it creates the best combination of possible outcomes. In most cases this will result in selecting a number of projects that on their own have a lower merit, than if considered as part of a group of projects. To achieve this requires a combination of qualitative and quantitative approaches. Current approaches and best practices from the technology innovation management literature and the opportunities and questions that still remain are identified.