A conceptual model for improved project selection and prioritisation

Abstract

Project portfolio management processes are often designed and operated as a series of stages (or project phases) and gates. However, the flow of such a process is often slow, characterised by queues waiting for a gate decision and by repeated work from previous stages waiting for additional information or for re-processing. In this paper the authors propose a conceptual model that applies supply chain and constraint management principles to the project portfolio management process. An advantage of the proposed model is that it provides the ability to select and prioritise projects without undue changes to project schedules. This should result in faster flow through the system.

AFRIKAANS: Prosesse om portefeuljes van projekte te bestuur word normaalweg ontwerp en bedryf as ’n reeks fases en hekke. Die vloei deur so ’n proses is dikwels stadig en word gekenmerk deur toue wat wag vir besluite by die hekke en ook deur herwerk van vorige fases wat wag vir verdere inligting of vir herprosessering. In hierdie artikel word ‘n konseptuele model voorgestel. Die model berus op die beginsels van voorsieningskettings sowel as van beperkingsbestuur, en bied die voordeel dat projekte geselekteer en geprioritiseer kan word sonder onnodige veranderinge aan projekskedules. Dit behoort te lei tot versnelde vloei deur die stelsel.