The status of project portfolio management practices adoption and awareness in Gulf Cooperation Counties: an empirical study

Project portfolio management (PPM) is a set of tools that help in aligning projects, funding and resources with the organisational objectives. A sound PPM practice is expected to minimise project delays, assist in risk mitigation and enable the best utilisation of organisation resources. Many countries in Gulf Cooperation Council (GCC) region are experiencing high volume of projects carried in all of sectors. Delegates to the first Euro money Global Infrastructure Finance Conference held in Dubai, in association with HSBC, reported that the expected total GCC expenditure on infrastructure for the next decade is $1.5 trillion (Middle East: daily newspaper, Tuesday, 29 January 2009). With this immense increase in the number of projects, an efficient framework such as PPM is inevitable for the organisations operating in the GCC region. This study aims to report the status of PPM awareness and adoption in the organisations from GCC countries. A conceptual model based on structural equation modelling approach is proposed using a survey carried out among the GCC organisations. The model explores the status of PPM adoption, awareness and its impact on GCC organisations in improving their risk management and budget controls. The statistical analysis of the conceptual model supported that PPM practices in the GCC organisations have improved risk management and budget controls as well as helped achieving their strategic goals.