All too often, strategy is viewed as difficult. Complex. Sometimes ethereal. And frequently completely disconnected from reality. One of the inherent challenges in many organizations is that strategy is considered to be–at the same time–conceptual, abstract and elusive. It is something that happens “up there” and “out there”, and that tangibly seems difficult to grasp. It does not have to be that way. It shouldn’t be that way. But for some reason, for too many organizations–public and private sector alike–we make it that way. And to be clear, yes, I am suggesting that this is a deliberate choice. Or at least, it is a failure to not be any clearer regarding the strategy of our organizations.

Portfolio management has begun to be considered as ubiquitous in some organizations as project management itself. The assumption that portfolio management does–or should–exist as a universal capability, however, doesn’t square up with reality for a number of organizations. Where portfolios play a role… and where they might not.

In the history of organizations trying to implement and get some value from project management, there has been a string of buzzwords that have captured the hearts, minds and budget approvals of senior executives. Why hasn’t portfolio management lived up to the hype?

How projects relate to strategy, and how portfolios relate to either, is often misunderstood. Reconsidering these terms and how they provide useful perspectives of portfolio management.

Portfolio management is one of those things that, on the face of it, organizations should naturally want to embrace. We are trying to manage complex changes with limited funding, scarce resources and tight deadlines. So why is making choices about projects so hard?

The last column in this series explored the consequences of not having a formal prioritization process. But what happens when the opposite occurs? What are the implications of having a formal project initiation process in place? If having a formal approach to project initiation is so great, why do so few organizations have one?

Most organizations blur the lines between project success and investment success. This is a dangerous practice, and this article explores why.

While the practice of project management may continue to advance, overall project results will not significantly improve until better decisions are made through the full lifecycle of an idea. This article explores the stages that exist, and the responsibilities that should exist at each stage.

As organizations develop more effective approaches to managing their projects, attention typically begins to shift from how projects are being conducted to what projects the organization is choosing to conduct. This article explores the consequences of not having an effective project initiation process.

The rationale by which project decisions get made varies widely from organization to organization, and is for the vast majority of organizations largely a subjective process. PMOs are starting to play a more direct role in this process. This article explores whether this is a good idea, and what it should look like if it were to occur.