Project Portfolio Management: Best Practices for Strategic Alignment
DOI:
https://doi.org/10.36676/irt.v8.i4.1476Keywords:
Project Portfolio Management, Strategic Alignment, Resource Optimization, Risk Management, Performance Measurement, Stakeholder EngagementAbstract
This research paper covers the most current strategic alignment best practices in Project Portfolio Management. The paper will, therefore, look into how PPM interacts with strategic alignment, whereby a deep analysis of theoretical approaches, methodologies, and practical applications will be provided. This paper, based on literature review and empirical analysis on large scales, outlines main strategies for ensuring effective portfolio selection, resource allocation, risk management, and performance measurement. The challenges organizations face in strategic alignment is also investigated, along with the remedies to surmount such challenges. The research contributes to theoretical understanding and practical implementation of PPM for improved organizational performance and strategic goal attainment.
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