ABSTRACT
This chapter explores the diversity of different types and settings of project portfolios. Project portfolios offer an established way of organizing and prioritizing projects, programmes and investment opportunities for both private and public sector organizations. While portfolios have traditionally been viewed in terms of a central enterprise resource, they can also be adopted within functional areas, domains or departments. K. A. Artto likewise emphasizes the need to share similar strategic objectives and shared resources among projects in a portfolio that are subject to similar sponsorship and management arrangements. However, execution requires bridging the execution gap, and therefore strategic initiatives are utilized to represent the how. Strategic initiatives are the collections of finite duration’s discretionary projects and programs, outside the organization's day-to-day operational activities, that are designed to help the organization achieve its targeted performance. Successful operation requires a balance between the different types of activities required for sustainable and effective performance.
