I am running a small organisation with a big name ‘Project management research institute’ and a very good list of clients which include many good organisations who are good in their chosen field. Since our expenses are very low, we do make profits. Still in a market where we could have done two crore Indian rupees, we have done only one crore, and still it is profitable, because our expenses are low. This is our current project portfolio;
Project management training (Pmp, agile, scrum, I.T project management)
Project management consulting (implementing agile)
Performing agile project management (on site scrum master) for overseas clients who outsource projects to India.
Online project management training
Now, we want to improve our profitability, and are thinking about new streams of projects. The whole process of selection of the right projects, programs and other work which are in true alignment to the organisational strategy for growth and then continuously maintaining the alignment between the strategy, implementation and the enterprise environmental factors is known as project portfolio management.
If every apple, orange and other fruits in a fruit basket can be considered as a project, program or other work, then project portfolio management is more like maintaining a fruit basket, and the decisions about which fruits to be kept inside, which ones to be thrown out and when…the rotten ones must go out, and the good ones must get in…and that is a continuous process.