Enterprise Project Management (EPM) and Portfolio Management are two of the newer management practices shaping the view of project management in action. Project Portfolio Management is an organizational level methodology that caters to the enterprise-wide collection of projects, while EPM is less well described, but essentially deals more with the overall organizational processes utilized in executing projects. EPM provides a big-picture perspective for all project assets, such as enterprise goals, staff, equipment, and budget; it allows projects to be aligned across departmental boundaries and containing key strategic organizational initiatives. The various EPM functional decision processes collectively serve as a basis for selecting projects that have a high degree of both strategic and operational fit to the enterprise goals. Project management should be viewed as a set of techniques, theories, and tools that collectively help organizations effectively execute designated projects.