Project portfolio selection model, a realistic approach

Today, more and more companies are moving towards a project-oriented way of managing their businesses. It sets certain challenges to companies. How to make sure that the selected projects are implementing the strategy of the company? Are the scarce resources (financial, human capital) allocated to the right projects? Which projects to select, which projects to pursue and which to kill? Project portfolio management tackles these problems and has become an important topic in recent years. Nevertheless, different empirical studies highlighted the fact that these models are not used in practice. We propose an approach based on the generation of efficient portfolios by the metaheuristic SSPMO1 and on an objective analysis of these portfolios in order to make good recommendation to the portfolio committee or the decision makers.