The influence of stakeholder power, proximity and urgency on the selection and prioritization of projects within IT project portfolio management
IT investments constitute a major portion of the capital budgets of many organizations. It can be challenging to select the right projects that fit the corporate strategy to maximize value for the organization. In the past, senior executives focused on projects that met three criteria, namely being on-time, on budget and in scope. However, a shift has occurred as a result of the fact that senior executives are more concerned about the right mix of projects that will best utilise the organization's resources and deliver long-range growth. Some of the benefits of IT Project Portfolio Management (IT PPM) are to provide executives with the ability to monitor projects ensure business alignment and identify risks quickly. It is argued that maintaining a balanced portfolio of diverse projects can reduce the risk of an individual project and can produce a higher rate of return.
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