ABSTRACT
The stage lays the basis for all that follows deciding where to invest, managing the project portfolio in flight' and realising the benefits. Project Portfolio Management, Glen Mills, PA. report that the great majority of the top businesses use a formal portfolio management system'. These processes should cover the investment life cycle from project proposal and entry to the portfolio, preparing business cases, investment appraisal and portfolio prioritisation, releasing funds, and tracking performance through to project closure and evaluation. Attractiveness the Net Present Value (NPV), Internal Rate of Return (IRR), payback period, scale of strategic contribution and benefits summary by type and recipient. All projects funded by the Criminal Justice System Portfolio (CJS IT) ring-fence budget are subject to HM Treasury's Settlement Conditions and CJS IT governance arrangements. Revenue generation where selection and prioritisation should be on the basis of greatest financial bang' for the buck' most usually measured by NPV.
