ABSTRACT
Professional services account for a large proportion of GDP, particularly in developed economies. Professional, scientific, and technical services accounted for 7.5% of GDP in the United States, for example, in 2010, while the real estate sector accounted for a further 12.7%. According to the industry experts, the organizations operating in the professional services sector should be aware regarding several key trends in the environment. Client sophistication—The clients are expected to get more aware about the services offered to them. The organizations in the professional services sector should be prepared to accept and deliver a large number of regulatory projects. This chapter focuses on project portfolio management models developed by three professional services organizations: a professional services department of a European software product development company, a European IT services organization, and an IT department of a global consulting firm. The strategy for the professional services division developed by the senior management was very simple and straightforward.
