Robust project portfolio management: Capability evolution and maturity

Publisher:
Emerald Group Publishing Limited
Publication Type:
Journal Article
Citation:
International Journal of Managing Projects in Business, 2013, 1st, 6 (1), pp. 131 - 151
Issue Date:
2013-01
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Purpose The purpose of this paper is to increase understanding of project portfolio management (PPM) capability evolution, in order to guide the implementation and ongoing development of robust capabilities. Design/methodology/approach This research adopts a dynamic capabilities perspective and draws on organizational learning theory to investigate the path-dependent nature of PPM implementation and development. It employs a multiple-case study of six organizations. Findings Each of the case organizations reported a high level of evolution and change within their PPM capabilities, both purposeful and unintended. Potential fragilities are identified, such as the emergence of a success trap that inhibits explorative innovation and difficulties in stopping poor projects to reallocate resources. Based on findings from the literature and the multiple-case study, a capability maturity model is proposed to assist in the development of robust PPM capabilities that will continue to evolve and stay relevant in dynamic environments.
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