Avenues to improving the effectiveness of project portfolio management in the construction industry

ABSTRACT

Although the role of project portfolio management (PPM) in evaluating, selecting, and prioritizing the right set of projects has been explored in previous research, the current literature still lacks a framework of factors affecting PPM effectiveness in the construction industry. This study aims to identify these factors and examine their importance from industry experts’ viewpoints. A literature review was followed by obtaining the viewpoints of industry experts through interviews and the Delphi method. The findings are presented in the form of a framework including 18 factors reflecting organizational, technological, human, and process aspects necessary for achieving an effective PPM mechanism. The current study is unique in terms of consolidating theoretical suggestions of previous studies, incorporating new factors, and evaluating their priority in achieving an effective PPM system. The findings revealed that organizational factors are of higher priority as the basis for technological, human, and process factors. The results open up new ways for researchers to undertake follow-up quantitative research on the relationships between determinants of PPM effectiveness.

KEYWORDS:

• Project portfolio management
• business strategy
• multi-project environment
• strategy implementation
• construction industry

Disclosure statement

No potential conflict of interest was reported by the authors.