An integrated framework for diversified project portfolio selection

This paper presents an integrated category-based project portfolio selection (PPS) framework for multi-project organisations. The purpose of this study is to help mitigate the gap outlined in the PPS literature, with regards the lack of integrated frameworks which recognise different project categories in the PPS approach. We review the literature of existing PPS methods and develop guidelines for using them in a comprehensive approach. Considering the objectives of an effective PPS framework revealed from the literature, we propose an integrated category-based PPS framework and structure it into distinct stages. Some relevant and well-founded techniques are integrated into our framework according to project categories at hand and decision-makers' preferences. Our approach helps build a well-balanced project portfolio, maximise the portfolio value and preserve its consistency with strategic priorities throughout the PPS process. A case study is conducted in the automotive industry to analyse the feasibility and usefulness of our model.