Contemporary project portfolio management: Reflections on the development of an Australian competency standard for project portfolio management

Michael Young, Kieran Conboy

    Research output: Contribution to journalArticle

    26 Citations (Scopus)

    Abstract

    Project portfolio management is an emerging aspect of business management that focuses on how projects are selected, prioritised, integrated, managed and controlled in the multi-project context that exists in modern organisations. Competency standards have been developed by professional bodies for project managers. However, to date there has been no attempt to develop a competency standard at the portfolio management level. This paper examines the process for development of the first performance-based competency standard for project portfolio management and identifies how this contributes to the body of knowledge in both project portfolio management and project management more broadly. The intent is to use the Standard to improve project portfolio management capability and practice in organisations, which in turn promotes efficient resource use and more profitable project outcomes. Specific issues regarding Australian practice are described, along with implications for how this may impact Australian practice in the future.

    Original languageEnglish
    Pages (from-to)1089-1100
    Number of pages12
    JournalInternational Journal of Project Management
    Volume31
    Issue number8
    DOIs
    Publication statusPublished - Nov 2013

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