An empirical investigation on how portfolio risk management influences project portfolio success

Teller, Juliane; Kock, Alexander

doi:10.1016/j.ijproman.2012.11.012

Cited by 170 publications

(185 citation statements)

References 50 publications

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“…Currently, project portfolio management is receiving increased attention both in practice and as a field of academic research [13,14,17,30,31]. The portfolio management concept originates from studies conducted by Markowitz [8], which had the realities of capital investment as their theoretical background.…”

Section: Project Portfolio Managementmentioning

confidence: 99%

“…Teller presents an extensive empirical study demonstrating the impact of formalisation and quality of risk management on the success of the portfolio [13,14,22,23]. In addition, McFarlan indicates the usefulness of a complex approach to portfolio risk in the decision-making process [54].…”

Section: Project Portfolio Risk Managementmentioning

confidence: 99%

“…The particular project portfolio risks were selected and named through the course of the literature review [5][6][7]9,13,14,[16][17][18]23,30,33,[40][41][42]56,[58][59][60][61][62][63][64][65][66][67][68]. Every identified risk was defined, described, and placed into one of the component, structural, or overall risk categories.…”

Section: Hypothesis Developmentmentioning

confidence: 99%

“…This is a result of the occurrence of a new risk, which is a derivative of interdependencies and relationships between projects completed within the portfolio [12] (p. 85). Risk identifications for projects initiated and completed within the portfolio may be conducted simultaneously, thus positively affecting the efficiency of these actions [13][14][15]. Therefore, properly conducted project portfolio risk management allows for the minimisation of the likelihood of mistakes and failures, which consequently has a positive impact on portfolio success [16].…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Shedding New Light on Project Portfolio Risk Management

2017

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This paper constitutes an innovative attempt to analyse the risks and negative phenomena dependencies within a project portfolio. Based on the available literature, the risks and negative phenomena (that is, the problems with the availability of resources, interpersonal conflicts, irregularities in the portfolio balance, etc.) specific to a project portfolio were identified. Theoretical constructs were then used to connect the identified risks with the negative phenomena. Structural equations were used to confirm the existence and quality of these constructs, as well as models describing connections between phenomena. The determination of the structural equations also provided a setting in which statistical methods (χ 2 , RMSEA and CFI) could be used to investigate the level of fit of the constructs and models to the empirical data.

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Section: Project Portfolio Managementmentioning

confidence: 99%

Section: Project Portfolio Risk Managementmentioning

confidence: 99%

Section: Hypothesis Developmentmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Shedding New Light on Project Portfolio Risk Management

2017

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“…Literature review suggests that the project portfolio management serves as an important and effective tool for strategy implementation. Moreover, all the project portfolio management process must be subordinated to the strategy of the organization (Archer and Ghasemzadeh, 1999;Martinsuo and Lehtonen, 2007;Voss and Kock, 2012;Teller and Kock, 2013). Meskendahl (2010) examined the interference of the strategy, project portfolio management, and the success to draw together strategy formulation and implementation.…”

Section: Strategic Criteria (Sti)mentioning

confidence: 99%

Ranking Projects in Multi-Criteria Environment

Sebestyén¹,

Tóth²

2015

OTMCJ

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In the construction industry, the way the company manages its projects is a fundamental issue. IT tools supporting project portfolio management have become widely available and widely used, however, some of their processes still significantly need to be refined and made more accurate. Choosing the right project is a vital element of their way to success or failure. This also means that when a building project becomes value-destroying, it has to be suspended, or even stopped. Making such decisions is vitally important for the company. The paper presents an integrated project prioritization model, which includes both financial and non-financial criteria. The conceptual idea is to integrate the financial element with the most widely used non-financial points of view that are already applied, tested and published in the relevant literature separately. The authors go over the steps of PPM one by one and in addition to the ranking of the outlined projects, also briefly summarize the basics of monitoring.

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Risk Management in Project Portfolios is More than Managing Project Risks: A Contingency Perspective on Risk Management

Teller

Kock

Gemünden

2014

Project Management Journal

Self Cite

108

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■ Project risk management aims at reducing the likelihood of project failure. To manage risk in project portfolios, research suggests adopting a perspective that is wider than the individual project risk. The results from a hierarchical multiple regression analysis on a sample of 177 project portfolios suggest that formal risk management at the project level and integration of risk information at the portfolio level are positively associated with overall project portfolio success. Simultaneous risk management at both levels increases this positive effect. Furthermore, risk management at the project level is more important for R&D-dominated project portfolios, whereas the integration of risk information is more important with high levels of turbulence and portfolio dynamics. KEYWORDS: project portfolio management; portfolio risk management; project risk management

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An empirical investigation on how portfolio risk management influences project portfolio success

Cited by 170 publications

References 50 publications

Shedding New Light on Project Portfolio Risk Management

Shedding New Light on Project Portfolio Risk Management

Ranking Projects in Multi-Criteria Environment

Risk Management in Project Portfolios is More than Managing Project Risks: A Contingency Perspective on Risk Management

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