Project portfolio risk management: a structured literature review with future directions for research

Micán, Camilo; Fernandes, Gabriela; Araújo, Maria Madalena Teixeira de

doi:10.12821/ijispm080304

Cited by 20 publications

(19 citation statements)

References 65 publications

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“…Documentation of design projects and traceability of decisions and revisions is of high importance [11] and is an example where social media use can be beneficial. In managing risks, a holistic approach is needed to probe the threats at both a project and an organizational level [12]. Hence, a comprehensive review of the benefits and risks of social media use in project management is imperative.…”

Section: Introductionmentioning

confidence: 99%

Social media in project management: A systematic narrative literature review

Daemi

Chugh

Kanagarajoo

2021

IJISPM

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Despite the adoption of social media in many business operations, evidence suggests that the usage of social media for project management activities is scarce. Through this literature review, the paper seeks to clarify the scope of the available knowledge, highlight the significance of new research agendas and address the principal reason for the limited use of social media in project management. A literature review was conducted to analyze the benefits of using social media in project management along with the areas in which it is used, the threats, barriers and enablers of social media adoption. Key areas where social media is used in project management include requirements management, communication management, policymaking, knowledge management and collaboration. Social media usage has shown to improve information sharing, engagement and relationships. Threats include a negative impact on reputation, employee productivity and information privacy. The reviewed literature highlights that the lack of a social media adoption strategy is the principal reason for the limited use of social media in project management. This studycontributes to both the project management practice and literature by introducing a model for social media adoption in project management.

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Section: Introductionmentioning

confidence: 99%

Social media in project management: A systematic narrative literature review

Daemi

Chugh

Kanagarajoo

2021

IJISPM

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“…According to the structured literature review conducted by Micán et al [21], risk factor categories based on risk factor sources could be synthesized into four categories:…”

Section: Risk Factors In Project Portfoliosmentioning

confidence: 99%

“…In this regard, the literature review on 'risk factors' from a portfolio perspective and 'project portfolio success' was used as background for the interview design. Thus, the four risk factor categories proposed by Micán et al [21] (see Section 2.2) were defined as initial themes regarding the construct 'risk factors', defining them as risk factor categories, and the five 'project portfolio success' dimensions described in Table 1 (see Section 2.3) were established as initial themes concerning the construct 'project portfolio success'.…”

Section: Data Collectionmentioning

confidence: 99%

Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios

2022

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Project portfolios aim to impact organizational strategic goals, influencing both the organization’s business model and its processes. Nonetheless, the actual impact is dependent on the portfolio’s success, which is affected by the materialization of risk factors. This study aims to examine the tacit conceptualization of project portfolio risk as a risk measure explicitly based on project portfolio success itself. In order to focus on the portfolios of organizational development projects, Social Representation Theory was adopted to analyze empirical evidence from twenty-eight semi-structured interviews conducted with project portfolio practitioners. Findings showed that strategic fit, future preparedness, and stakeholder satisfaction were dimensions of success within which project portfolio risk could be conceptualized. Additionally, results evidenced that risk factors influenced project portfolio success through systematic and non-systematic impacts on project portfolio outputs, and also had direct impacts on project portfolio outcomes. This paper provides empirical evidence to back up the conceptualization of project portfolio risk explicitly oriented to portfolio success as a multidimensional risk measure. It represents a new avenue for conducting portfolio risk analysis for both practitioners and academics, orienting the decision-making process based on the portfolio success rather than only on the success of each project.

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“…On this level, areas of concern are a loss of interim results when projects are stopped, negative side effects for other projects when focal projects are changed or stopped due to dependencies between projects, and the neglect of synergy and learning effects when planning new projects [15]. Recent investigations have produced comprehensive sets of risks to the success of a project portfolio, including sharing resources across and interdependencies between projects, affecting smooth communication flow as well as portfolio fragmentation [14,13,11]. These sources of complexity and interdependency present a particular challenge in tactical PPM.…”

Section: Strategic and Tactical Ppmmentioning

confidence: 99%

“…Challenges of PPM include efficiency gains through standardisation of work packages within and reuseability across the project boundaries [12]. Risks to the success of project portfolios have been studied and consolidated extensively in recent literature (for example [13,14]).…”

Section: Introductionmentioning

confidence: 99%

Can product modularization approaches help address challenges in technical project portfolio management? – Laying the foundations for a methodology transfer

Lammers

Guertler

Skirde

2022

IJISPM

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Formalized Project Portfolio Management (PPM) models struggle to provide comprehensive solutions to project selection, resource allocation and adaptability to dynamic technology project environments. In this article, we introduce a vision for a novel Modular Project Portfolio Management (MPPM) approach by drawing on well-established engineering methods for designing modular product architectures. We show how systems theory can be used to enable a transfer of methods from the area of engineering design and manufacturing to the area of PPM and how the concept of product modularity could help address challenges of existing PPM approaches. This lays the groundwork for the possible development of MPPM as a new and innovative methodology for managing complex technology and engineering project landscapes.

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Project portfolio risk management: a structured literature review with future directions for research

Cited by 20 publications

References 65 publications

Social media in project management: A systematic narrative literature review

Social media in project management: A systematic narrative literature review

Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios

Can product modularization approaches help address challenges in technical project portfolio management? – Laying the foundations for a methodology transfer

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